Below is the adjusted trial balance for Bannon Company: Adjusted Trial Balance December 31 Cash Accounts...

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Below is the adjusted trial balance for Bannon Company: Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals Determine the net income (loss) for the period. O a. net loss of $5,670 O b. net income of $9,250 Oc. net income of $3,580 O d. no net income or net loss Debit 6,404 2,272 1,574 14,574 790 3,374 2,834 1,649 1,124 1,059 35,654 Credit 1,974 2,774 5,174 1,874 13,814 10,040 35,654 Below is the adjusted trial balance for Bannon Company: Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals Determine the net income (loss) for the period. O a. net loss of $5,670 O b. net income of $9,250 Oc. net income of $3,580 O d. no net income or net loss Debit 6,404 2,272 1,574 14,574 790 3,374 2,834 1,649 1,124 1,059 35,654 Credit 1,974 2,774 5,174 1,874 13,814 10,040 35,654

Answer rating: 100% (QA)

To determine the net income loss for the period we must calculate the difference between revenues an... View the full answer