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The following is the adjusted trial balance for Steely Company.
Steely Company
Adjusted Trial Balance
For the Year ended December 31, 2008
Cash 6,130
Accounts Receivable 2,300
Prepaid Expenses 750
Equipment 13,400
Accumulated Depreciation 1,200
Accounts Payable 1,700
Notes Payable 5,000
Capital Stock 12,000
Dividends 870
Fees Earned 6,600
Wages Expense 1,450
Rent Expense 900
Utilities Expense 475
Depreciation Expense 150
Miscellaneous Expense 75
Totals 26,500 26,500
Question 1: Determine the net income (loss) for the period.
Question 2: Determine the stockholders' equity ending balance for the period.
Question 3: Determine total assets.
Question 4: Determine the current assets.
Question 5: Determine the total liabilities for the period.
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