Stockton Company Adjusted Trial Balance For the Year ended December 31, 2010 Cash $ 9,030 2,100...

 

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Stockton Company Adjusted Trial Balance For the Year ended December 31, 2010 Cash $ 9,030 2,100 Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation 700 13,700 $ 1,100 Accounts Payable Notes Payable Bob Steely, Capital Bob Steely, Withdrawals 1,900 4,200 12,940 790 Fees Earned 13,750 Wages Expense Rent Expense 4,500 1,960 Utilities Expense 775 Depreciation Expense Miscellaneous Expense 250 85 Totals $33,890 $33,890 Determine the net income (loss) for the period. O Net Income $2,570 O Net Loss $6,180 O Net Loss $2,570 O Net Income $6,180 Stockton Company Adjusted Trial Balance For the Year ended December 31, 2010 Cash $ 9,030 2,100 Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation 700 13,700 $ 1,100 Accounts Payable Notes Payable Bob Steely, Capital Bob Steely, Withdrawals 1,900 4,200 12,940 790 Fees Earned 13,750 Wages Expense Rent Expense 4,500 1,960 Utilities Expense 775 Depreciation Expense Miscellaneous Expense 250 85 Totals $33,890 $33,890 Determine the net income (loss) for the period. O Net Income $2,570 O Net Loss $6,180 O Net Loss $2,570 O Net Income $6,180 Stockton Company Adjusted Trial Balance For the Year ended December 31, 2010 Cash $ 9,030 2,100 Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation 700 13,700 $ 1,100 Accounts Payable Notes Payable Bob Steely, Capital Bob Steely, Withdrawals 1,900 4,200 12,940 790 Fees Earned 13,750 Wages Expense Rent Expense 4,500 1,960 Utilities Expense 775 Depreciation Expense Miscellaneous Expense 250 85 Totals $33,890 $33,890 Determine the net income (loss) for the period. O Net Income $2,570 O Net Loss $6,180 O Net Loss $2,570 O Net Income $6,180

Answer rating: 100% (QA)

Answer Net income 6180 Explanation Net income ... View the full answer