A company's December 31 work sheet for the current period appears below. Based on the information provided, what is net income for the current period?CashAccounts receivablePrepaid insuranceSuppliesEquipmentAccumulated depreciation-equipmentAccounts payableSalaries payableUnearned revenueRetained earningsDividendsServices revenueRent expenseSalaries expenseUtilities expenseInsurance expenseSupplies expenseDepreciation expense-equipmentTotalsUnadjusted TrialBalanceDebit1,0454,30025012,4202,3502,2002,80041525,780Credit1,8405,20010,5808,160AdjustmentsDebit Credit37044538522014026025,780 1,8202201402603858151,820

The financial statements of the business are prepared using the adjusted trial balance. The net…

Answered: Unadjusted Trial Balance Debit 1,045…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 9BE

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Unadjusted Trial Balance Debit 1,045 4,300 250 12,420 2,350 2,200 2,800 415 25,780 Credit 1,840 5,200 10,580 8,160 Adjustments Debit 370 445 385 Credit 220 140 260 385 815 220 140 260 25,780 1,820 1,820