Jenning Co -Refer to the Trial Balance for Jenning Co

question 161

Multiple Choice

Jenning Co.
Jenning Co.adjusts its books each month but closes its books at the end of the year.The trial balance at July 31 before adjustments is as follows:
$\begin{array}{lr}&\text { Debit }&\text {Credit }\\\text { Cash } & \$ 12,920 \\\text { Accounts Receivable } & 9,620 \\\text { Supplies } & 1,400 \\\text { Prepaid Insurance } & 3,120 \\\text { Equipment } & 26,000\\\text { Accumulated Depreciation-Equipment } && \$ 10,400 \\\text { Unearned Service Revenue } && 6,500 \\\text { Capital Stock } && 7,190 \\\text { Retained Earnings } && 23,500\\\text { Dividends } & 1,560 \\\text { Service Revenue } &&16,510 \\\text { Wages and Salaries Expense } & 7,800 \\\text { Utilities Expense } & 380 \\\text { Rent Expense } & \underline{1,300} \\& \underline{\$ 64,100}& \underline{\$64,000} \\\end{array}$
-Refer to the trial balance for Jenning Co. According to contracts,$4,810 of Unearned Service Revenue has been earned in July.Which of the following is the correct amount of Service Revenue to be reported in the July income statement?

• A)$20,410
• B)$11,700
• C)$21,320
• D)$16,510

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