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(a) Determine the net income for the quarter April 1 to June 30. Net income $ Wildhorse Company was organized on April 1, 2022. The
(a) Determine the net income for the quarter April 1 to June 30. Net income $ Wildhorse Company was organized on April 1, 2022. The company prepares quarterly financial statements. The adjusted trial balance at June 30 is shown here. Debit Credit Cash $6,000 Accumulated Depreciation-Equipment $700 Accounts Receivable 480 Notes Payable 4,800 Prepaid Rent 1,000 Accounts Payable 700 Supplies 800 Salaries and Wages Payable 300 Equipment Owner's Drawings 12.900 Interest Payable 80 500 Unearned Rent Revenue 400 Salaries and Wages Expense 7,300 Owner's Capital 11,980 Rent Expense 1,400 Service Revenue 11.400 Depreciation Expense 700 Rent Revenue 1,300 Supplies Expense 200 $31,660 Utilities Expense 300 Interest Expense 80 $31,660
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