Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals Stockton Company Adjusted Trial Balance December 31 Determine the net income (loss) for the period. 7,530 2,100 700 13,700 790 2,500 1,960 775 250 185 30,490 1,100 1,900 4,300 1,000 12,940 9,250 30,490 2

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Use the adjusted trial balance for Stockton Company below to answer the questions that follow.
Cash
Accounts Receivable
Prepaid Expenses
Equipment
Accumulated Depreciation
Accounts Payable
Notes Payable
Common Stock
Retained Earnings
Dividends
Fees Earned
Wages Expense
Rent Expense
Utilities Expense
Depreciation Expense
Miscellaneous Expense
Totals
Stockton Company
Adjusted Trial Balance
December 31
Determine the net income (loss) for the period.
7,530
2,100
700
13,700
790
2,500
1,960
775
250
185
30,490
1,100
1,900
4,300
1,000
12,940
9,250
30,490
2
Transcribed Image Text:Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals Stockton Company Adjusted Trial Balance December 31 Determine the net income (loss) for the period. 7,530 2,100 700 13,700 790 2,500 1,960 775 250 185 30,490 1,100 1,900 4,300 1,000 12,940 9,250 30,490 2
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