The following list of accounts is from the adjusted trial balance for Monty Corporation: Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Advertising expenses Buildings Cash Common shares Cost of goods sold Deferred revenue Depreciation expense $128,640 179,520 94,080 217,920 107,520 410.880 68.160 220,800 1.069.440 30.720 180.480 Equipment Income tax expense Insurance expense Inventory $907,200 58,560 112,320 222,720 Land 1,056,000 Loan payable (due in 2 years) 1,872,000 Prepaid expenses 27,840 Property tax payable 17,280 Refund liability Salaries expense Salaries payable Sales 20,160 744.960 24.960 2.519,040

The following list of accounts is from the adjusted trial balance for Monty Corporation: Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Advertising expenses Buildings Cash Common shares Cost of goods sold Deferred revenue Depreciation expense $128,640 179,520 94,080 217,920 107,520 410.880 68.160 220,800 1.069.440 30.720 180.480 Equipment Income tax expense Insurance expense Inventory $907,200 58,560 112,320 222,720 Land 1,056,000 Loan payable (due in 2 years) 1,872,000 Prepaid expenses 27,840 Property tax payable 17,280 Refund liability Salaries expense Salaries payable Sales 20,160 744.960 24.960 2.519,040

Name: The following list of accounts is from the adjusted trial balance for
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Description: The following list of accounts is from the adjusted trial balance for Monty Corporation:Accounts payableAccounts receivableAccumulated depreciation-buildingsAccumulated depreciation-equipmentAdvertising expensesBuildingsCashommon sharesCost of goods

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 AccountNo. DebitBalances CreditBalances Cash 11 5,074 Accounts Receivable 12 2,877 Prepaid Expenses 13 777 Equipment 18 15,351 Accumulated Depreciation 19 1,484 Accounts Payable 21 1,534 Notes Payable 22 4,111 Bob Steely, Capital 31 15,228 Bob Steely, Drawing 32 602 Fees Earned 41 6,592 Wages Expense 51 2,786 Rent Expense 52 790 Utilities Expense 53 359 Depreciation Expense 54 267 Miscellaneous Expense 59 66 Totals 28,949 28,949 Use the adjusted trial balance for Stockton Company. Determine the total assets. a.$25,613 b.$24,079 c.$23,302 d.$22,595
Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 AccountNo. DebitBalances CreditBalances Cash 11 6,044 Accounts Receivable 12 2,136 Prepaid Expenses 13 643 Equipment 18 14,501 Accumulated Depreciation 19 1,337 Accounts Payable 21 1,468 Notes Payable 22 5,923 Bob Steely, Capital 31 13,850 Bob Steely, Drawing 32 949 Fees Earned 41 6,418 Wages Expense 51 3,195 Rent Expense 52 765 Utilities Expense 53 449 Depreciation Expense 54 246 Miscellaneous Expense 59 68 Totals 28,996 28,996 Use the adjusted trial balance for Stockton Company. Determine the owner's equity ending balance for the period. a.$14,596 b.$18,240 c.$17,791 d.$19,005
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Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 AccountNo. DebitBalances CreditBalances Cash 11 5,015 Accounts Receivable 12 2,673 Prepaid Expenses 13 699 Equipment 18 13,450 Accumulated Depreciation 19 1,295 Accounts Payable 21 1,482 Notes Payable 22 5,876 Bob Steely, Capital 31 9,051 Bob Steely, Drawing 32 898 Fees Earned 41 8,971 Wages Expense 51 2,454 Rent Expense 52 713 Utilities Expense 53 482 Depreciation Expense 54 191 Miscellaneous Expense 59 100 Totals 26,675 26,675 Use the adjusted trial balance for Stockton Company. Determine the net income (loss) for the period. a.Net income is $26,675. b.Net loss is $7,967. c.Net loss is $5,031. d.Net income is $5,031.
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Based on the accounts shown below in the Partial Adjusted Trial Balance dated 12/31/20xx, what is the total dollar ($) amount of the Debits? Normal Account Balance Account Name Cash $15,000 Inventory $9,000 Equipment $90,738 Accumulated Depreciation $1,396 Deferred Revenue $4,000 Common Stock $75,267 Revenue $40,000 Sales Return $3,858 Cost of Goods Sold $3,000 Interest Expense $15,000 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 ASUS