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 6,530 Accounts Receivable 12 2,100 Prepaid Expenses 13 700 Equipment 18 13,700 Accumulated Depreciation 19 1,100 Accounts Payable 21 1,900 Notes Payable 22 4,300 Bob Steely, Capital 31 12,940 Bob Steely, Drawing 32 790 Fees Earned 41 9,250 Wages Expense 51 2,500 Rent Expense 52 1,960 Utilities Expense 53 775 Depreciation Expense 54 250 Miscellaneous Expense 59 185 Totals 29,490 29,490 Use the adjusted trial balance for Stockton Company. Determine the current assets. a.$9,330 b.$21,930 c.$8,630 d.$23,030
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 6,530 Accounts Receivable 12 2,100 Prepaid Expenses 13 700 Equipment 18 13,700 Accumulated Depreciation 19 1,100 Accounts Payable 21 1,900 Notes Payable 22 4,300 Bob Steely, Capital 31 12,940 Bob Steely, Drawing 32 790 Fees Earned 41 9,250 Wages Expense 51 2,500 Rent Expense 52 1,960 Utilities Expense 53 775 Depreciation Expense 54 250 Miscellaneous Expense 59 185 Totals 29,490 29,490 Use the adjusted trial balance for Stockton Company. Determine the current assets. a.$9,330 b.$21,930 c.$8,630 d.$23,030
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the adjusted trial balance for Stockton Company to answer the question that follows.
Use the adjusted trial balance for Stockton Company. Determine the current assets.
| Stockton Company | |||
| Adjusted Trial Balance | |||
| December 31 | |||
| Account No. | Debit Balances | Credit Balances | |
| Cash | 11 | 6,530 | |
| 12 | 2,100 | ||
| Prepaid Expenses | 13 | 700 | |
| Equipment | 18 | 13,700 | |
| 19 | 1,100 | ||
| Accounts Payable | 21 | 1,900 | |
| Notes Payable | 22 | 4,300 | |
| Bob Steely, Capital | 31 | 12,940 | |
| Bob Steely, Drawing | 32 | 790 | |
| Fees Earned | 41 | 9,250 | |
| Wages Expense | 51 | 2,500 | |
| Rent Expense | 52 | 1,960 | |
| Utilities Expense | 53 | 775 | |
| Depreciation Expense | 54 | 250 | |
| Miscellaneous Expense | 59 | 185 | |
| Totals | 29,490 | 29,490 |
Use the adjusted trial balance for Stockton Company. Determine the current assets.
a.$9,330
b.$21,930
c.$8,630
d.$23,030
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