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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 6,507     Accounts Receivable 12 2,836     Prepaid Expenses 13 767     Equipment 18 14,507     Accumulated Depreciation 19     1,376 Accounts Payable 21     1,688 Notes Payable 22     4,961 Bob Steely, Capital 31     15,159 Bob Steely, Drawing 32 675     Fees Earned 41     6,224 Wages Expense 51 2,547     Rent Expense 52 818     Utilities Expense 53 491     Depreciation Expense 54 190     Miscellaneous Expense 59 70     Totals     29,408 29,408 Determine the current assets. a.$9,343 b.$10,110 c.$23,241 d.$29,408

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 6,507     Accounts Receivable 12 2,836     Prepaid Expenses 13 767     Equipment 18 14,507     Accumulated Depreciation 19     1,376 Accounts Payable 21     1,688 Notes Payable 22     4,961 Bob Steely, Capital 31     15,159 Bob Steely, Drawing 32 675     Fees Earned 41     6,224 Wages Expense 51 2,547     Rent Expense 52 818     Utilities Expense 53 491     Depreciation Expense 54 190     Miscellaneous Expense 59 70     Totals     29,408 29,408 Determine the current assets. a.$9,343 b.$10,110 c.$23,241 d.$29,408

FINANCIAL ACCOUNTING
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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  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 6,507    
    Accounts Receivable 12 2,836    
    Prepaid Expenses 13 767    
    Equipment 18 14,507    
    Accumulated Depreciation 19     1,376
    Accounts Payable 21     1,688
    Notes Payable 22     4,961
    Bob Steely, Capital 31     15,159
    Bob Steely, Drawing 32 675    
    Fees Earned 41     6,224
    Wages Expense 51 2,547    
    Rent Expense 52 818    
    Utilities Expense 53 491    
    Depreciation Expense 54 190    
    Miscellaneous Expense 59 70    
    Totals     29,408 29,408

    Determine the current assets.

    a.$9,343
    b.$10,110
    c.$23,241
    d.$29,408
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