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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 | 2,135 | ||||||
Accounts receivable | 1,160 | 1,035 | |||||
Prepaid insurance | 1,760 | 810 | |||||
Supplies | 490 | 275 | |||||
Equipment | 8,480 | ||||||
Accumulated depreciationequipment | 880 | 350 | |||||
Accounts payable | 1,300 | ||||||
Owner, Capital | 10,070 | ||||||
Owner, Withdrawals | 1,210 | ||||||
Fees earned | 7,410 | 1,035 | |||||
Rent expense | 1,460 | ||||||
Salaries expense | 2,460 | ||||||
Utilities expense | 505 | ||||||
Insurance expense | 810 | ||||||
Supplies expense | 275 | ||||||
Depreciation expenseequipment | 350 | ||||||
Totals | 19,660 | 19,660 | 2,470 | 2,470 | |||
Multiple Choice
$2,985.
$2,585.
$1,550.
$4,020.
$1,900.
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