Able Industries Has the Following Information Is Related to Its $\bullet$

question 49

Essay

Able Industries has the following information is related to its adjusting entries at the end of December.
$\bullet$ Services have been performed for customers that have not yet been billed or paid totaling $100.
$\bullet$ The office equipment computation for 2010 depreciation amounts to $480.
What is the net effect that the necessary adjusting entries for this information have on net income for Able?
a. $380 increase.
b. $380 decrease.
c. $580 increase.
d. $580 decrease.

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Definitions:

Sample Employees

A group of employees selected from a larger population for the purpose of conducting a study or statistical analysis.

Hispanics

A term referring to people originating from Spanish-speaking countries, especially those in Latin America, used in demographic and cultural studies.

Consumer Panel

A group of selected individuals who agree to provide feedback over time on a variety of products or services.

Fast Food Restaurants

Eateries that offer quick service and a limited menu of convenience foods that are typically prepared and served rapidly.