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