The following is the adjusted trial balance for Stockton Company.Stockton CompanyAdjusted Trial BalanceDecember 31Cash5,047Accounts Receivable2,331Prepaid Expenses702Equipment15,735Accumulated Depreciation10,181Accounts Payable1,725Notes Payable4,555Common Stock1,000Retained Earnings3,324Dividends885Fees Earned7,575Wages Expense2,271Rent Expense729Utilities Expense355Depreciation Expense186Miscellaneous Expense119Totals28,36028,360Determine the retained earnings ending balance.Oa. $6,354Time Remaining: 1:48:17All work saved.MacBook Preesc80000D00F1F2F3F4F5F6%24# 3 Determine the retained earnings ending balance.Oa. $6,354Ob. $4,324Oc. $28,360Od. $3,915

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Determine the retained earnings ending balance. Oa. $6,354 Ob. $4,324 C. $28,360 Od. $3,915

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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Question

The following is the adjusted trial balance for Stockton Company.
Stockton Company
Adjusted Trial Balance
December 31
Cash
5,047
Accounts Receivable
2,331
Prepaid Expenses
702
Equipment
15,735
Accumulated Depreciation
10,181
Accounts Payable
1,725
Notes Payable
4,555
Common Stock
1,000
Retained Earnings
3,324
Dividends
885
Fees Earned
7,575
Wages Expense
2,271
Rent Expense
729
Utilities Expense
355
Depreciation Expense
186
Miscellaneous Expense
119
Totals
28,360
28,360
Determine the retained earnings ending balance.
Oa. $6,354
Time Remaining: 1:48:17
All work saved.
MacBook Pre
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D00
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F2
F3
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# 3

Determine the retained earnings ending balance.
Oa. $6,354
Ob. $4,324
Oc. $28,360
Od. $3,915

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