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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 | 2,085 | |||
Accounts receivable | 1,110 | 985 | ||
Prepaid insurance | 1,710 | 760 | ||
Supplies | 440 | 225 | ||
Equipment | 8,430 | |||
Accumulated depreciationequipment | 830 | 300 | ||
Accounts payable | 1,250 | |||
Owner, Capital | 9,770 | |||
Owner, Withdrawals | 1,160 | |||
Services revenue | 7,360 | 985 | ||
Rent expense | 1,410 | |||
Salaries expense | 2,410 | |||
Utilities expense | 455 | |||
Insurance expense | 760 | |||
Supplies expense | 225 | |||
Depreciation expenseequipment | 300 | |||
Totals | 19,210 | 19,210 | 2,270 | 2,270 |
Multiple Choice
$2,785.
$2,100.
$4,070.
$3,085.
$1,800.
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