Acompany had calculated net income to be $77,750 based on the unadjusted trial balance. the following adjusting entries were then made for: 1. salaries and wages owed but not yet recorded or aid of $810 2. interest earned but not recorded or received from investments of $770 3. prepaid insurance premiums amounting to $570 have expired 4. unearned revenue in the amount of $770 has now been earned. required: determine the amount of net income (loss) that will be reported after the adjustments are recorded.

The amount of net income (loss) that will be reported after the adjustments are recorded is $77,910

Explanation:

The computation of the adjusted net income is shown below:

= Unadjusted net income balance - salaries unpaid + interest earned - expired prepaid insurance + unearned revenue

= $77,750 - $810 + $770 - $570 + $770

= $77,910

As it includes two expenses and two incomes so we adjust it accordingly as in the income statement, the total revenues and the total expenses are recorded.

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