Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton Company Adjusted Trial Balance December 31 Cash 6,794 Accounts Receivable 2,730 Prepaid Expenses 792 Equipment 13,043 Accumulated Depreciation 1,480 Accounts Payable 1,629 Notes Payable 4,364 Common Stock 1,000 Retained Earnings 11,996 Dividends 641 Fees Earned 7,100 Wages Expense 2,175 Rent Expense 702 Utilities Expense 363 Depreciation Expense 236 Miscellaneous Expense 93 27,569 27,569 Determine the net income (loss) for the period.

The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.

Companies under market structures are independent