Oriole Company was organized on April 1, 2019. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below. Debit Credit Cash $ 6,400 Accumulated Depreciation-Equipment $ 800 Accounts Receivable 580 Notes Payable 3,300 Prepaid Rent 600 Accounts Payable 900 Supplies 800 Salaries and Wages Payable 400 Equipment 11,900 Interest Payable 80 Dividends 500 Unearned Rent Revenue 300 Salaries and Wages Expense 8,000 Common Stock 12,980 Rent Expense 1,900 Service Revenue 12,000 Depreciation Expense 800 Rent Revenue 1,300 Supplies Expense 100 $32,060 Utilities Expense 400 Interest Expense 80 $32,060 v (a) X Your answer is incorrect. Try again. Determine the net income for the quarter April 1 to June 30. Net income

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Oriole Company was organized on April 1, 2019. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.
Debit
Credit
$ 6,400
Accumulated Depreciation-Equipment
Notes Payable
Cash
$ 800
Accounts Receivable
580
3,300
Prepaid Rent
600 Accounts Payable
900
Supplies
800 Salaries and Wages Payable
400
Equipment
11,900 Interest Payable
80
Dividends
500 Unearned Rent Revenue
300
Salaries and Wages Expense
8,000 Common Stock
12,980
Rent Expense
1,900 Service Revenue
12,000
Depreciation Expense
800 Rent Revenue
1,300
Supplies Expense
100
$32,060
Utilities Expense
400
Interest Expense
80
$32,060
(a)
X Your answer is incorrect. Try again.
Determine the net income for the quarter April 1 to June 30.
Net income
Cy Policy LO 2000
Transcribed Image Text:Oriole Company was organized on April 1, 2019. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below. Debit Credit $ 6,400 Accumulated Depreciation-Equipment Notes Payable Cash $ 800 Accounts Receivable 580 3,300 Prepaid Rent 600 Accounts Payable 900 Supplies 800 Salaries and Wages Payable 400 Equipment 11,900 Interest Payable 80 Dividends 500 Unearned Rent Revenue 300 Salaries and Wages Expense 8,000 Common Stock 12,980 Rent Expense 1,900 Service Revenue 12,000 Depreciation Expense 800 Rent Revenue 1,300 Supplies Expense 100 $32,060 Utilities Expense 400 Interest Expense 80 $32,060 (a) X Your answer is incorrect. Try again. Determine the net income for the quarter April 1 to June 30. Net income Cy Policy LO 2000
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