### Question: Determine the Total Liabilities for the PeriodPlease select the correct option that represents the total liabilities for the specified period:- ○ $11,876- ○ $19,894- ○ $7,357- ○ $3,843**Instructions:**Examine the financial data provided and choose the appropriate amount that reflects the total liabilities within the given time frame. **Stockton Company Adjusted Trial Balance****December 31**- **Assets:** - Cash: $6,033 - Accounts Receivable: $2,968 - Prepaid Expenses: $686 - Equipment: $14,726- **Liabilities:** - Accumulated Depreciation: $12,537 - Accounts Payable: $1,748 - Notes Payable: $5,609- **Equity:** - Common Stock: $1,000 - Retained Earnings: $2,843 - Dividends: $948- **Revenues:** - Fees Earned: $6,469- **Expenses:** - Wages Expense: $3,405 - Rent Expense: $750 - Utilities Expense: $750 - Depreciation Expense: $356 - Miscellaneous Expense: $246 - Additional Expense: $88**Totals:**- Debits: $30,206- Credits: $30,206*Determine the total liabilities for the period.*This adjusted trial balance provides an overview of Stockton Company's financial position as of December 31. The balance confirms that debits and credits are equal, highlighting accurate financial reporting. *Note: This transcription and analysis is intended for educational purposes.*

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Description: ### Question: Determine the Total Liabilities for the PeriodPlease select the correct option that represents the total liabilities for the specified period:- ○ $11,876- ○ $19,894- ○ $7,357- ○ $3,843**Instructions:**Examine the financial data provide

The total liabilities for the period will be total of Accounts Payable and Notes Payable.

Business

Accounting

The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,033 Accounts Receivable 2,968 Prepaid Expenses 686 Equipment 14,726 Accumulated Depreciation 12,537 Accounts Payable 1,748 Notes Payable 5,609 Common Stock 1,000 Retained Earnings 2,843 Dividends 948 Fees Earned 6,469 Wages Expense 3,405 Rent Expense 750 Utilities Expense 356 Depreciation Expense 246 Miscellaneous Expense 88 Totals 30,206 30,206 Determine the total liabilities for the period.

The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,033 Accounts Receivable 2,968 Prepaid Expenses 686 Equipment 14,726 Accumulated Depreciation 12,537 Accounts Payable 1,748 Notes Payable 5,609 Common Stock 1,000 Retained Earnings 2,843 Dividends 948 Fees Earned 6,469 Wages Expense 3,405 Rent Expense 750 Utilities Expense 356 Depreciation Expense 246 Miscellaneous Expense 88 Totals 30,206 30,206 Determine the total liabilities for the period.

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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