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Category > Business & Finance Posted 02 Aug 2017 My Price 12.00

The following is the adjusted trial balance for Steely Company. Steely Company

The following is the adjusted trial balance for Steely Company.
Steely Company
Adjusted Trial Balance
For the Year ended December 31, 2008

Cash6,130 
Accounts Receivable2,300 
Prepaid Expenses 750 
Equipment13,400 
Accumulated Depreciation 1,200
Accounts Payable 1,700
Notes Payable 5,000
Bob Steely, Capital 12,000
Bob Steely, Withdrawals870 
Fees Earned 6,600
Wages Expense1,450 
Rent Expense900 
Utilities Expense475 
Depreciation Expense150 
Miscellaneous Expense75 
Totals26,50026,500

Determine the net income (loss) for the period. (Points: 4)
1. Net Income 26,500 
2. Net Loss 870 
3. Net Loss 3,550 
4. Net Income 3,550

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Status NEW Posted 02 Aug 2017 06:08 PM My Price 12.00

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