Question
The following items are taken from the financial statements of the Oriole Service for the year ending December 31, 2020 Accounts payable $ 18000 Accounts
The following items are taken from the financial statements of the Oriole Service for the year ending December 31, 2020
| Accounts payable | $ 18000 |
| Accounts receivable | 11000 |
| Accumulated depreciation equipment | 28600 |
| Advertising expense | 20900 |
| Cash | 14800 |
| Owners capital (1/1/20) | 98600 |
| Owner's drawings | 13800 |
| Depreciation expense | 12000 |
| Insurance expense | 2900 |
| Note payable, due 6/30/21 | 68900 |
| Prepaid insurance (12-month policy) | 5800 |
| Rent expense | 17100 |
| Salaries and wages expense | 31800 |
| Service revenue | 135100 |
| Supplies | 4000 |
| Supplies expense | 6000 |
| Equipment | 209100 |
What is the companys net income for the year ending December 31, 2020?
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Introduction To Managerial Accounting
Authors: Peter Brewer, Ray Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan
6th Canadian Edition
1260060411, 9781260060416
