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4. Determine the net income or net loss for October. Connie Young, an architect, opened an office on October 1, 2019. During the month, she

"4. Determine the net income or net loss for October."

Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice:

  1. Transferred cash from a personal bank account to an account to be used for the business, $36,000.
  2. Paid October rent for office and workroom, $2,400.
  3. Purchased used automobile for $32,800, paying $7,800 cash and giving a note payable for the remainder.
  4. Purchased office and computer equipment on account, $9,000.
  5. Paid cash for supplies, $2,150.
  6. Paid cash for annual insurance policies, $4,000.
  7. Received cash from client for plans delivered, $12,200.
  8. Paid cash for miscellaneous expenses, $815.
  9. Paid cash to creditors on account, $4,500.
  10. Paid $5,000 on note payable.
  11. Received invoice for blueprint service, due in November, $2,890.
  12. Recorded fees earned on plans delivered, payment to be received in November, $18,300.
  13. Paid salary of assistants, $6,450.
  14. Paid gas, oil, and repairs on automobile for October, $1,020.

I need help with question 4. I have already created a T chart and did an unadjusted trial balance sheet but I need help finding the net income or net loss. image text in transcribed

"4. Determine the net income or net loss for October."

Ullaujusceu illal Dalalice October 31, 2019 Debit Balances 14,065 Credit Balances Cash Accounts Receivable 18,300 Supplies 2,150 Prepaid Insurance 4,000 Automobiles 32,800 Equipment 9,000 Accounts Payable 7,390 20,000 Notes Payable Connie Young, Capital 36,000 Professional Fees 30,500 Salary Expense 6,450 Blueprint Expense 2,890 Rent Expense 2,400 Automobile Expense 1,020 Miscellaneous Expense 815

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