Jackson Consulting Had the Following Accounts and Balances at December

question 125

Multiple Choice

Jackson Consulting had the following accounts and balances at December 31: $\begin{array}{|l|c|c|}\hline \text { Account } & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 20,000 & \\\hline \text { Accounts Receivable } & 6,000 & \\\hline \text { Prepaid Insurance } & 1,500 & \\\hline \text { Supplies } & 5,000 & \\\hline \text { Accounts Payable } & & \$ 500 \\\hline \text { R. Jackson, Capital } & & 16,200 \\\hline \text { R. Jackson, Withdrawals } & 1,000 & \\\hline \text { Service Revenue } & & 20,000 \\\hline \text { Utilities Expense } & 2,000 & \\\hline \text { Salaries Expense } & 1,200 & \\\hline \text { Totals } & \$ 36,700 & \$ 36,700 \\\hline\end{array}$
Using the information in the table, calculate Jackson Consulting's reported net income for the period.

• A) $16,800
• B) $15,800.
• C) $23,200
• D) $10,300.
• E) $15,300

---

Definitions:

Alcoholism

A chronic disease characterized by uncontrolled drinking and obsession with alcohol, often leading to health problems and impaired social functioning.

Obesity

A medical condition characterized by excessive body fat that presents a risk to health, typically measured by body mass index (BMI).

Smoking

The act of inhaling and exhaling the smoke of burning plant material, such as tobacco, often associated with addiction and health risks.

Stress-inoculation Therapy

A psychological technique designed to help individuals build resilience by preparing them to cope with upcoming stressful events.