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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?
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? |
Unadjusted | ||||
Trial Balance | Adjustments | |||
Debit | Credit | Debit | Credit | |
Cash | 2,165 | |||
Accounts receivable | 1,190 | 1,065 | ||
Prepaid insurance | 1,790 | 840 | ||
Supplies | 520 | 305 | ||
Equipment | 8,510 | |||
Accumulated depreciationequipment | 910 | 380 | ||
Accounts payable | 1,330 | |||
Common stock | 10,250 | |||
Dividends | 1,240 | |||
Fees earned | 7,440 | 1,065 | ||
Rent expense | 1,490 | |||
Salaries expense | 2,490 | |||
Utilities expense | 535 | |||
Insurance expense | 840 | |||
Supplies expense | 305 | |||
Depreciation expenseequipment | 380 | |||
Totals | 19,930 | 19,930 | 2,590 | 2,590 |
$2,925.
$3,990.
$1,400.
$1,780.
$2,465.
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