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 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

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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  1. 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 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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