Jenning Co -Refer to the Trial Balance for Jenning Co

question 194

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. ?
Employees are owed $750 for services since the last payday in July,to be paid the first week in August.The amount to be reported in the July income statement for salaries expense is

• A)$750.
• B)$8,550.
• C)$7,050.
• D)$7,800.

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Definitions:

Vending Machines

Automated machines that dispense products or services when money is inserted.

Marketing Concern

An issue or area needing attention within the realm of marketing, such as consumer satisfaction, product visibility, or market competition.

Equipment-based Services

Services that require the use of specialized equipment or machinery to fulfill customer needs.

Intangibility

The characteristic of a service or good that cannot be physically touched or seen.