18000
11000
28000
21000
15000
102000
14000
12000
3000
70000
6000
17000
32000
133000
4000
6000
210000
The following items are taken from the financial statements of Dinkel Company for the year ending December 31, 2010:
Accounts payable
Accounts receivable
Accumulated depreciation – equipment
Advertising expense
Cash 15,000
Dinkel, Capital (1/1/10)
Dinkel, Drawing
Depreciation expense
Insurance expense
Note payable, due 6/30/11
Prepaid insurance (12-month policy)
Rent expense
Salaries expense
Service revenue
Supplies
Supplies expense
Equipment
What is the compa
18000
11000
28000
21000
15000
102000
14000
12000
3000
70000
6000
17000
32000
133000
4000
6000
210000
The following items are taken from the financial statements of Dinkel Company for the year ending December 31, 2010:
Accounts payable
Accounts receivable
Accumulated depreciation – equipment
Advertising expense
Cash 15,000
Dinkel, Capital (1/1/10)
Dinkel, Drawing
Depreciation expense
Insurance expense
Note payable, due 6/30/11
Prepaid insurance (12-month policy)
Rent expense
Salaries expense
Service revenue
Supplies
Supplies expense
Equipment
What is the company’s net income for the year ending December 31, 2010? Plese show how you came up with answer.
a. $133,000
b. $42,000
c. $28,000
d. $12,000
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