Before month end adjustments are made, the January 31, trail balance of Pacific Tours contains revenue of $ 27,900 and expenses of $ 17,340. · Portion of prepaid rent applicable to January $ 2,700. · Depreciation for January $ 1,440. · Portion of fees collected in advance earned in January $ 3,300. · Fees earned in January, not yet billed to customers $ 1,950. Net income in pacific tour’s January Income Statement
Before month end adjustments are made, the January 31, trail balance of Pacific Tours contains revenue of $ 27,900 and expenses of $ 17,340. · Portion of prepaid rent applicable to January $ 2,700. · Depreciation for January $ 1,440. · Portion of fees collected in advance earned in January $ 3,300. · Fees earned in January, not yet billed to customers $ 1,950. Net income in pacific tour’s January Income Statement
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12: Financial Statements, Closing Entries, And Reversing Entries
Section: Chapter Questions
Problem 4PB: The following accounts appear in the ledger of Sheldon Company on January 31, the end of this fiscal...
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Before month end adjustments are made, the January 31, trail balance of Pacific Tours contains revenue of $ 27,900 and expenses of $ 17,340.
· Portion of prepaid rent applicable to January $ 2,700.
·
· Portion of fees collected in advance earned in January $ 3,300.
· Fees earned in January, not yet billed to customers $ 1,950.
Net income in pacific tour’s January Income Statement
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