Limited access

Upgrade to access all content for this subject

The unadjusted trial balance for Copter Inc. for the most recent year is shown below.

Unadjusted Trial Balance DEBIT CREDIT
Cash \$100,000
Accounts Receivable \$40,000
Prepaid Rent \$10,000
Equipment, net \$300,000
Accounts Payable \$40,000
Note Payable \$100,000
Common Stock \$10,000
Retained Earnings --?--
Service Revenues \$600,000
Cost of Goods Sold \$150,000
Rent Expense \$50,000
Salaries & Wages Expense \$100,000
Other Operating Expenses \$40,000
Interest Expense \$10,000

What is the amount of profit or loss before adjusting entries are booked for the period?

Select an assignment template