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 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Use the adjusted
| Stockton Company Adjusted Trial Balance December 31 |
|||
| Account No. |
Debit Balances |
Credit Balances |
|
| Cash | 11 | 5,074 | |
| 12 | 2,877 | ||
| Prepaid Expenses | 13 | 777 | |
| Equipment | 18 | 15,351 | |
| 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
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