The following accounts were taken from the Adjusted Trial Balance columns of the work sheet: Accumulated Depreciation - $2,557 Fees Earned - 15,975 Depreciation Expense - 995 Insurance Expense - 489 Prepaid Insurance - 4,587 Supplies - 1,324 Supplies Expense - 3,776 Net income for the period is a. $10,715 b. $8,158 c. $5,260 d. $21,235

The following accounts were taken from the Adjusted Trial Balance columns of the work sheet: Accumulated Depreciation - $2,557 Fees Earned - 15,975 Depreciation Expense - 995 Insurance Expense - 489 Prepaid Insurance - 4,587 Supplies - 1,324 Supplies Expense - 3,776 Net income for the period is a. $10,715 b. $8,158 c. $5,260 d. $21,235

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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how to find the book value for december 31 and accumulated depreciation