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The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,670   Accounts Receivable 2,755   Prepaid Expenses 800   Equipment 14,706   Accumulated Depreciation   11,123 Accounts Payable   1,770 Notes Payable   5,375 Common Stock   1,000 Retained Earnings   3,701 Dividends 986   Fees Earned   6,601 Wages Expense 3,157   Rent Expense 754   Utilities Expense 496   Depreciation Expense 158   Miscellaneous Expense 88   Totals 29,570 29,570 Determine the retained earnings ending balance. $1,948 $4,701 $29,570 $4,663

The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,670   Accounts Receivable 2,755   Prepaid Expenses 800   Equipment 14,706   Accumulated Depreciation   11,123 Accounts Payable   1,770 Notes Payable   5,375 Common Stock   1,000 Retained Earnings   3,701 Dividends 986   Fees Earned   6,601 Wages Expense 3,157   Rent Expense 754   Utilities Expense 496   Depreciation Expense 158   Miscellaneous Expense 88   Totals 29,570 29,570 Determine the retained earnings ending balance. $1,948 $4,701 $29,570 $4,663

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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  1. The following is the adjusted trial balance for Stockton Company.

    Stockton Company
    Adjusted Trial Balance
    December 31
    Cash 5,670  
    Accounts Receivable 2,755  
    Prepaid Expenses 800  
    Equipment 14,706  
    Accumulated Depreciation   11,123
    Accounts Payable   1,770
    Notes Payable   5,375
    Common Stock   1,000
    Retained Earnings   3,701
    Dividends 986  
    Fees Earned   6,601
    Wages Expense 3,157  
    Rent Expense 754  
    Utilities Expense 496  
    Depreciation Expense 158  
    Miscellaneous Expense 88  
    Totals 29,570 29,570

    Determine the retained earnings ending balance.

    $1,948
    $4,701
    $29,570
    $4,663
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