Answer:
Net income is $6,100.
Net book value of Equipment is $21,200
Current assets is $25,400
Current liabilities is $9,900
Working capital will therefore be $15,500
Net Assets is $36,700
Capital Less owners drawings is $30,600
Retained earnings is $6,100
Total owners fund is therefore is $36,700
Explanation:
Adjusted trial balance
Fees income (cr) $24,600
Sales and expense (Dr.) $13,800
Rent expense (Dr.) $1,600
Suppliers expense (Dr.) $900
Depreciation (Dr.) $2,200
Equipment (Dr.) $32,000
Accumulated depreciation (cr.) $10,800
Cash (Dr.) $8,900
Accounts receivable (Dr.) $11,800
Supplier (Dr.) $4,700
Accounts payable (Cr.) $9,900
Capital (Cr.) $34,000
Drawings (Dr.) $6,100
Total debit $79,300
Total credit $79,300
