A trial balance does not prove that all transactions have been recorded or that the ledger is correct. True False A Company had the following account balances at December 31. 2012: Building $680, 000 Accumulated Depreciation-Bldg $52, 000 Cash $20, 000 Common Stock $300, 000 Supplies $2, 000 Retained Earnings $190, 000 During 2013. the following transactions occurred: On March 1. purchased a one-year malpractice insurance policy for $12, 000 cash, On July 1. borrowed $40.0CC cash from First American Bank for one year. The annual Interest rate on the borrowed amount is 10%. Employee salaries in the amount of $23, 000 were paid in cash during the year. At the end of the year. $1, 000 of the supplies remained on hand. Provided $100, 000 in consulting services during 2013 The entire amount was collected in cash from customers. At December 31, $20, 000 in employee salaries were owed (but not yet paid) to employees. On December 31. received S10.000 in cash representing advance payment for services to be provided in January 2014. Annual depreciation on the building Is $24, 000. After you post all transactions and adjusting journal entries for 2013. what is the net income (loss) for the year ending December 31, 2013? (Note: Format your answer as follows: $000, 000, 000) The revenue recognition principle dictates that revenue be recognized in the accounting period in which the revenue is earned. True False Financial information that Is capable of making a difference in a decision is none of these are correct, faithfully representative, generally accepted, relevant, convergent