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Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton Company Adjusted Trial Balance December 31     Account No. Debit Balances Credit Balances Cash 11 5,672     Accounts Receivable 12 2,895     Prepaid Expenses 13 787     Equipment 18 15,108     Accumulated Depreciation 19     1,279 Accounts Payable 21     1,406 Notes Payable 22     5,764 Bob Steely, Capital 31     15,329 Bob Steely, Drawing 32 972     Fees Earned 41     6,188 Wages Expense 51 3,033     Rent Expense 52 789     Utilities Expense 53 358     Depreciation Expense 54 265     Miscellaneous Expense 59 87     Totals     29,966 29,966 Determine the total assets. a.$23,675 b.$23,183 c.$25,868 d.$24,462

Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton Company Adjusted Trial Balance December 31     Account No. Debit Balances Credit Balances Cash 11 5,672     Accounts Receivable 12 2,895     Prepaid Expenses 13 787     Equipment 18 15,108     Accumulated Depreciation 19     1,279 Accounts Payable 21     1,406 Notes Payable 22     5,764 Bob Steely, Capital 31     15,329 Bob Steely, Drawing 32 972     Fees Earned 41     6,188 Wages Expense 51 3,033     Rent Expense 52 789     Utilities Expense 53 358     Depreciation Expense 54 265     Miscellaneous Expense 59 87     Totals     29,966 29,966 Determine the total assets. a.$23,675 b.$23,183 c.$25,868 d.$24,462

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Use the adjusted trial balance for Stockton Company to answer the question that follows.

Stockton Company
Adjusted Trial Balance
December 31
    Account
No.		 Debit
Balances		 Credit
Balances
Cash 11 5,672    
Accounts Receivable 12 2,895    
Prepaid Expenses 13 787    
Equipment 18 15,108    
Accumulated Depreciation 19     1,279
Accounts Payable 21     1,406
Notes Payable 22     5,764
Bob Steely, Capital 31     15,329
Bob Steely, Drawing 32 972    
Fees Earned 41     6,188
Wages Expense 51 3,033    
Rent Expense 52 789    
Utilities Expense 53 358    
Depreciation Expense 54 265    
Miscellaneous Expense 59 87    
Totals     29,966 29,966

Determine the total assets.

a.$23,675
b.$23,183
c.$25,868
d.$24,462
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