Solution-Determine the net income for the quarter april

Determine the net income for the quarter april

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Reference no: EM131786802

Question - Danks Co. was organized on April 1, 2010.The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.

	Debits		Credits
Cash	$ 5,345	Accumulated Depreciation-Equipment	$ 731
Accounts Receivable	491	Notes Payable	4,039
Prepaid Rent	767	Accounts Payable	1,287
Supplies	774	Salaries Payable	276
Equipment	11,640	Interest Payable	46
John Danks, Drawing	508	Unearned Rent	352
Salaries Expense	7,553	John Danks, Capital	11,239
Rent Expense	1,210	Commission revenue	10,844
Depreciation Expense	657	Rent revenue	739
Supplies Expense	149
Utilities Expense	407
Interest Expense	52
Total debits	$29,553	Total credits	$29,553

Determine the net income for the quarter April 1 to June 30. $

Determine the total assets at June 30, 2010 for Danks Company. $

Determine the total liabilities at June 30, 2010 for Danks Company. $

Determine the amount that appears for John Danks, Capital at June 30, 2010. $

Reference no: EM131786802

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Determine the net income for the quarter april

Reference no: EM131786802

Reference no: EM131786802

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