Unadjusted Trial Balance Debit 1,045 4,300 250 12,420 2,350 2,200 2,800 415 25,780 Credit 1,840 5,200 10,580 8,160 Adjustments Debit 370 445 385 Credit 220 140 260 385 815 220 140 260 25,780 1,820 1,820
Unadjusted Trial Balance Debit 1,045 4,300 250 12,420 2,350 2,200 2,800 415 25,780 Credit 1,840 5,200 10,580 8,160 Adjustments Debit 370 445 385 Credit 220 140 260 385 815 220 140 260 25,780 1,820 1,820
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 9BE
Related questions
Question
![A company's December 31 work sheet for the current period appears below. Based on the information provided, what is net income for the current period?
Cash
Accounts receivable
Prepaid insurance
Supplies
Equipment
Accumulated depreciation-equipment
Accounts payable
Salaries payable
Unearned revenue
Retained earnings
Dividends
Services revenue
Rent expense
Salaries expense
Utilities expense
Insurance expense
Supplies expense
Depreciation expense-equipment
Totals
Unadjusted Trial
Balance
Debit
1,045
4,300
250
12,420
2,350
2,200
2,800
415
25,780
Credit
1,840
5,200
10,580
8,160
Adjustments
Debit Credit
370
445
385
220
140
260
25,780 1,820
220
140
260
385
815
1,820](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3f60daed-365a-4b62-9ab9-5177e000f9a7%2F3495b89a-03d6-4fbc-8125-5857d2debfeb%2Fwcw06aa_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A company's December 31 work sheet for the current period appears below. Based on the information provided, what is net income for the current period?
Cash
Accounts receivable
Prepaid insurance
Supplies
Equipment
Accumulated depreciation-equipment
Accounts payable
Salaries payable
Unearned revenue
Retained earnings
Dividends
Services revenue
Rent expense
Salaries expense
Utilities expense
Insurance expense
Supplies expense
Depreciation expense-equipment
Totals
Unadjusted Trial
Balance
Debit
1,045
4,300
250
12,420
2,350
2,200
2,800
415
25,780
Credit
1,840
5,200
10,580
8,160
Adjustments
Debit Credit
370
445
385
220
140
260
25,780 1,820
220
140
260
385
815
1,820
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