Question
Compute Yeti Financial Advisors's net income for the year ended December 31, 2020, using the provided adjusted trial balance. LOADING... (Click the icon to view
Compute Yeti Financial Advisors's net income for the year ended December 31, 2020,
using the provided adjusted trial balance.
LOADING...
(Click the icon to view the adjusted trial balance.)
Complete the income statement below to calculate net income. (Use parentheses or a minus sign for a net loss.)
Adjusted trial balance
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Yeti Financial Advisors | ||||
Adjusted Trial Balance | ||||
December 31, 2020 | ||||
| Account Title | Debit | Credit |
|
| Cash | $590 |
|
|
| Office supplies | 380 |
|
|
| Equipment | 20,600 |
|
|
| Accumulated amortizationequipment |
| $1,200 |
|
| Accounts payable |
| 540 |
|
| Interest payable |
| 700 |
|
| Note payable |
| 3,100 |
|
| Y. Benoit, capital |
| 4,300 |
|
| Service revenue |
| 17,650 |
|
| Rent expense | 3,050 |
|
|
| Interest expense | 1,450 |
|
|
| Amortization expenseequipment | 760 |
|
|
| Supplies expense | 660 |
|
|
| Total | $27,490 | $27,490 |
|
Complete the income statement below to calculate net income
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