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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 | 1,155 | ||||||
Accounts receivable | 480 | ||||||
Prepaid insurance | 5,400 | 330 | |||||
Supplies | 360 | 250 | |||||
Equipment | 15,720 | ||||||
Accumulated depreciationequipment | 370 | ||||||
Accounts payable | 2,940 | ||||||
Salaries payable | 495 | ||||||
Unearned fees | 6,300 | 555 | |||||
Retained earnings | 12,780 | ||||||
Dividends | 3,450 | ||||||
Fees earned | 11,790 | 555 | |||||
480 | |||||||
Rent expense | 3,300 | ||||||
Salaries expense | 3,900 | 495 | |||||
Utilities expense | 525 | ||||||
Insurance expense | 330 | ||||||
Supplies expense | 250 | ||||||
Depreciation expenseequipment | 370 | ||||||
Totals | 33,810 | 33,810 | 2,480 | 2,480 | |||
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