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

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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