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Question Content Area Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 Line Item Description Amount Amount Cash 6,935   Accounts Receivable 2,932   Prepaid Expenses 653   Equipment 13,922   Accumulated Depreciation   9,697 Accounts Payable   1,447 Notes Payable   4,813 Common Stock   1,000 Retained Earnings   5,042 Dividends 671   Fees Earned   7,683 Wages Expense 3,191   Rent Expense 733   Utilities Expense 348   Depreciation Expense 176   Miscellaneous Expense 121   Total 29,682 29,682 Determine the current assets. a. $6,042 b. $14,745 c. $10,520 d. $29,682

Question Content Area Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 Line Item Description Amount Amount Cash 6,935   Accounts Receivable 2,932   Prepaid Expenses 653   Equipment 13,922   Accumulated Depreciation   9,697 Accounts Payable   1,447 Notes Payable   4,813 Common Stock   1,000 Retained Earnings   5,042 Dividends 671   Fees Earned   7,683 Wages Expense 3,191   Rent Expense 733   Utilities Expense 348   Depreciation Expense 176   Miscellaneous Expense 121   Total 29,682 29,682 Determine the current assets. a. $6,042 b. $14,745 c. $10,520 d. $29,682

FINANCIAL ACCOUNTING
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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    Use the adjusted trial balance for Stockton Company to answer the question that follows.

    Stockton CompanyAdjusted Trial BalanceDecember 31
    Line Item Description Amount Amount
    Cash 6,935  
    Accounts Receivable 2,932  
    Prepaid Expenses 653  
    Equipment 13,922  
    Accumulated Depreciation   9,697
    Accounts Payable   1,447
    Notes Payable   4,813
    Common Stock   1,000
    Retained Earnings   5,042
    Dividends 671  
    Fees Earned   7,683
    Wages Expense 3,191  
    Rent Expense 733  
    Utilities Expense 348  
    Depreciation Expense 176  
    Miscellaneous Expense 121  
    Total 29,682 29,682

    Determine the current assets.

    a. $6,042
    b. $14,745
    c. $10,520
    d. $29,682
     
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