Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 Line Item Description Amount Amount Cash 6,616 Accounts Receivable 2,752 Prepaid Expenses 744 Equipment 14,898 Accumulated Depreciation 9,632 Accounts Payable 1,420 Notes Payable 4,773 Common Stock 1,000 Retained Earnings 5,496 Dividends 675 Fees Earned 7,067 Wages Expense 2,008 Rent Expense 839 Utilities Expense 498 Depreciation Expense 273 Miscellaneous Expense 85 Total 29,388 29,388 Determine the total liabilities for the period. a. $15,378 b. $6,193 c. $6,496 d. $15,825

Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 Line Item Description Amount Amount Cash 6,616 Accounts Receivable 2,752 Prepaid Expenses 744 Equipment 14,898 Accumulated Depreciation 9,632 Accounts Payable 1,420 Notes Payable 4,773 Common Stock 1,000 Retained Earnings 5,496 Dividends 675 Fees Earned 7,067 Wages Expense 2,008 Rent Expense 839 Utilities Expense 498 Depreciation Expense 273 Miscellaneous Expense 85 Total 29,388 29,388 Determine the total liabilities for the period. a. $15,378 b. $6,193 c. $6,496 d. $15,825

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Line Item Description	Amount	Amount
Cash	6,616
Accounts Receivable	2,752
Prepaid Expenses	744
Equipment	14,898
Accumulated Depreciation		9,632
Accounts Payable		1,420
Notes Payable		4,773
Common Stock		1,000
Retained Earnings		5,496
Dividends	675
Fees Earned		7,067
Wages Expense	2,008
Rent Expense	839
Utilities Expense	498
Depreciation Expense	273
Miscellaneous Expense	85
Total	29,388	29,388

Similar questions

Hanshaben
create a balance sheet for the following: Adjusted Trial Balance Account Titles Dr Cr Cash 26,143 Equity securities portolio 47,521 Fair value adjustment 3,585 Accounts receivable 284,171 Allowance for doubtful accounts 14,209 Inventory 623,636 Prepaid insurance 11,080 Land 414,518 Buildings 1,455,667 Accumulated depreciation-bldg 490,534 Equipment 1,041,038 Accumulated depreciation-equip 337,259 Deferred tax asset 6,000 Patent 17,970 Accounts payable 205,799 Income taxes payable 108,659 Note payable 42,000 Bonds payable 300,000 Premium on bonds payable 16,038 Preferred stock (5%, $100 par) 200,000 Common stock ($10 par value) 400,000 Paid-In capital in excess of par 471,999 Retained earnings 934,729 Dividends 90,000 Sales revenue 4,634,536 Cost of goods sold 3,172,647 Salaries and wages expense 580,593 Advertising expense 65,641 Depreciation expense 161,167…
Please help
Please do not give solution in image format
Question Content Area The following is the adjusted trial balance for Stockton Company. Stockton CompanyAdjusted Trial BalanceDecember 31 Cash 6,656 Accounts Receivable 2,514 Prepaid Expenses 601 Equipment 13,610 Accumulated Depreciation 8,613 Accounts Payable 1,506 Notes Payable 5,552 Common Stock 1,000 Retained Earnings 2,397 Dividends 875 Fees Earned 8,848 Wages Expense 2,125 Rent Expense 893 Utilities Expense 317 Depreciation Expense 238 Miscellaneous Expense 87 Totals 27,916 27,916 Determine the total liabilities for the period.
6
Prepare a Trial Balance The following balances were taken from the general ledger of Howser Corporation as of December 31. All balances are normal. Cash $6,000 Accounts receivable Accounts payable 6,000 Common stock Equipment 30,000 Dividends Utilities expense 2,000 Administrative expense Sales revenue 17,200 $10,800 36,000 2,400 8,000
Provide journal entry for the following transaction: The following is taken from Adjusted Trial Balance of Company. Provide journal entry to close related revenue accounts. Accounts Debit Credit Sales Revenues 160,000 Sales Return 4,000 5,000 80,000 40,000 Interest Expense Cost of Goods Sold Salaries and Wages Expense Losses due to fire 8,000 10,000 Dividends
The adjusted trial balance of Ryan Financial Planners appears below. RYAN FINANCIAL PLANNERSAdjusted Trial BalanceDecember 31, 2022 Debit Credit Cash € 5,200 Accounts Receivable 2,200 Supplies 1,800 Equipment 15,000 Accumulated Depreciation—Equipment € 4,000 Accounts Payable 3,800 Unearned Service Revenue 5,000 Share Capital–Ordinary 10,000 Retained Earnings 4,400 Dividends 2,500 Service Revenue 4,500 Supplies Expense 600 Depreciation Expense 2,500 Rent Expense 1,900 €31,700 €31,700 Using the information from the adjusted trial balance, you are to prepare for the month ending December 31: RYAN FINANCIAL PLANNERSIncome Statementchoose the accounting period…
Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Stockton Company Adjusted Trial Balance December 31 Determine the retained earnings ending balance. Oa. $31,896 Ob. $1,577 Oc. $12,793 Od. $13,088 6,827 2,410 706 16,000 872 3,473 823 483 224 78 31,896 4,532 1,761 5,857 1,000 12,088 6,658 31,896
Question: Prepare Income Statement and Retained Earnings Statement for SwiftStock Retail Services using the Account Balances provided. The statements must be complete with the company name and period covered.