The Unadjusted Net Income on the Income Statement Was $23,760

question 21

Multiple Choice

The unadjusted net income on the income statement was $23,760. After journalizing and posting the adjusting entries for the $1,620 of supplies used and $3,700 of depreciation on the company's equipment for the year, the adjusted net income is:

• A)$25,840.
• B)$18,440.
• C)$21,680.
• D)$29,080.

---

Definitions:

Business-Specific Risk

The risk associated with the particular operations, industry, or market of a specific company, apart from the general market risks.

Small Investor

An individual investor who makes relatively small amounts of investments for personal financial goals, not typically professional or institutional.

Higher Returns

Higher Returns denote the increased earnings or gains achieved from an investment, surpassing the original amount invested.

Higher Risk

Higher risk denotes investments or actions that have a greater chance of loss or volatility, often associated with potentially higher returns.