Question
Required information [The following information applies to the questions displayed below.] Shown below is a trial balance for Novelty Toys, Inc., on December 31,after adjusting
Required information [The following information applies to the questions displayed below.] Shown below is a trial balance for Novelty Toys, Inc., on December 31,after adjusting entries: Novelty Toys, Inc. Trial Balance December 31 Cash $ 15,600 Accounts Receivable 12,800 Office Equipment Accumulated Depreciation Accounts Payable Capital Stock 22,700 $ 6,100 7,800 22,600 Retained Earnings -0- Dividends Fees Earned 7,600 46,000 Salaries Expense 16, 200 Advertising Expense 3.300 Depreciation Expense 4,300 $ 82,500 $ 82.500 Net income for the period equals
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