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 5,367 Accounts Receivable 2,667 Prepaid Expenses 723 Equipment 15,391 Accumulated Depreciation 3,900 Accounts Payable 1,739 Notes Payable 5,136 Common Stock 1,000 Retained Earnings 9,948 Dividends 767 Fees Earned 7,796 Wages Expense 3,167 Rent Expense 774 Utilities Expense 334 Depreciation Expense 204 Miscellaneous Expense 125 Total 29,519 29,519 Determine the total liabilities for the period. a. $6,875 b. $20,248 c. $10,948 d. $10,775
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 5,367 Accounts Receivable 2,667 Prepaid Expenses 723 Equipment 15,391 Accumulated Depreciation 3,900 Accounts Payable 1,739 Notes Payable 5,136 Common Stock 1,000 Retained Earnings 9,948 Dividends 767 Fees Earned 7,796 Wages Expense 3,167 Rent Expense 774 Utilities Expense 334 Depreciation Expense 204 Miscellaneous Expense 125 Total 29,519 29,519 Determine the total liabilities for the period. a. $6,875 b. $20,248 c. $10,948 d. $10,775
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 5E: Multiple-Step and Single-Step In coin Statements The following items were derived from Gold...
Related questions
Question
Use the adjusted
Line Item Description | Amount | Amount |
---|---|---|
Cash | 5,367 | |
2,667 | ||
Prepaid Expenses | 723 | |
Equipment | 15,391 | |
3,900 | ||
Accounts Payable | 1,739 | |
Notes Payable | 5,136 | |
Common Stock | 1,000 | |
9,948 | ||
Dividends | 767 | |
Fees Earned | 7,796 | |
Wages Expense | 3,167 | |
Rent Expense | 774 | |
Utilities Expense | 334 | |
Depreciation Expense | 204 | |
Miscellaneous Expense | 125 | |
Total | 29,519 | 29,519 |
Determine the total liabilities for the period.
a. $6,875
b. $20,248
c. $10,948
d. $10,775
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