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Do it! Skolnick Co. was organized on April 1,2012.The company prepares quarterly finan- cial statements. The adjusted trial balance amounts at June 30 are shown

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Do it! Skolnick Co. was organized on April 1,2012.The company prepares quarterly finan- cial statements. The adjusted trial balance amounts at June 30 are shown below. Trial Balance Debits Credits Cash Accounts Receivable Prepaid Rent Supplies Equipment Owner's Drawings Salaries and Wages Expense Rent Expense $ 6.700 Accumulated Depreciation-Equipment 850 5,000 1,510 400 50 500 14,000 14.200 800 600 Notes Payable 900 Accounts Payable Salaries and Wages Payable Interest Payable Unearned Rent Revenue Owner's Capital 1,000 15,000 600 9,400 1.500 Service Revenue Depreciation Expense Supplies Expense Utilities Expense Interest Expense Total debits 850 Rent Revenue 200 510 50 $37,310 Total credits $37,310 (a) Determine the net income for the quarter April 1 to June 30 (b) Determine the total assets and total liabilities at June 30. 2012. for Skolnick Co. (c) Determine the amount that appears for Owner's Capital at June 30. 2012

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