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Windsor Conpany was organized on April 1, 2020. The conpang prepares quarterly financial statement. The adjusted trual balance amounts at June 30 are shown below.
Windsor Conpany was organized on April 1, 2020. The conpang prepares quarterly financial statement. The adjusted trual balance amounts at June 30 are shown below.
\begin{tabular}{lrllr} & Debit & & Credit \\ Cash & $6,500 & Accumulated Depreciation-Equipment & $700 \\ Accounts Receivable & 380 & Notes Payable & 3,500 \\ Prepaid Rent & 600 & Accounts Payable & 800 \\ Supplies & 800 & Salaries and Wages Payable & 300 \\ Equipment & 12,900 & Interest Payable & 50 \\ Dividends & 600 & Unearned Rent Revenue & 400 \\ Salaries and Wages Expense & 7,900 & Common Stock & 14,280 \\ Rent Expense & 1,300 & Service Revenue & 11,300 \\ Depreciation Expense & 700 & Rent Revenue & 1,100 \\ Supplies Expense & 200 & & $32,430 \\ \hline Utilities Expense & 500 & & \\ Interest Expense & 50 & & & \end{tabular} Determine the net income for the quarter April 1 to June 30. Net income Step by Step Solution
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