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Referring to the adjusted trial balance below, what is the amount of net income? Woods Company Adjusted Trial Balance For the Year Ended December 31,
Referring to the adjusted trial balance below, what is the amount of net income? Woods Company Adjusted Trial Balance For the Year Ended December 31, 2019 Cash $55,000 Accounts receivable 50,000 Inventory 151,000 Equipment 150,000 Accumulated depreciation, equipment $20,000 Unearned service revenue 10,000 Accounts payable 56,000 Notes payable 50,000 Common Stock 181,000 Retained Earnings 20,000 Dividends 36,000 Service revenue 195,000 Salary expense 52,000 Insurance expense 9,000 Utilities expense 19,000 Depreciation expense 10,000 Total $532,000 $532,000 $105,000 $115,000 $134,000 $98,000
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