Use the adjusted trial balance for Stockton Company to answer the question that follow.

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 total assets.

a.$23,030

b.$8,630

c.$9,330

d.$21,930

Expert Solution

Total assets for Stockton Company

Total assets for Stockton Company = Cash + Accounts receivables + Prepaid expenses + Equipment - Accumulated Depreciation

= $6,530 + $2,100 + $700 + $13,700 - $1,100

= $21,930

“Hence, the Total assets for Stockton Company will be (d). $21,930”

ekkarill92 answered 2 years ago

Use the adjusted trial balance for Stockton Company to answer the question that follow. Stockton Company...

Use the adjusted trial balance for Stockton Company to answer the question that follow. Stockton Company Adjusted Trial Balance December 31 Account No. Debit Balances Credit Balances Cash 11 5,007 Accounts Receivable 12 2,631 Prepaid Expenses 13 767 Equipment 18 14,380 Accumulated Depreciation 19 1,268 Accounts Payable 21 1,492 Notes Payable 22 5,433 Bob Steely, Capital 31 12,689 Bob Steely, Drawing 32 969 Fees Earned 41 7,484 Wages Expense 51 2,906 Rent Expense 52 868 Utilities Expense 53 496 Depreciation...

1)Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton...

1)Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton Company Adjusted Trial Balance December 31 Cash 7,530 Accounts Receivable 2,100 Prepaid Expenses 700 Equipment 13,700 Accumulated Depreciation 1,100 Accounts Payable 1,900 Notes Payable 4,300 Common Stock 1,000 Retained Earnings 12,940 Dividends 790 Fees Earned 9,250 Wages Expense 2,500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 Totals 30,490 30,490 Determine the net income...

Use the adjusted trial balance for Stockton Company to answer the questions that follow. (19-23) Stockton...

Use the adjusted trial balance for Stockton Company to answer the questions that follow. (19-23) Stockton Company Adjusted Trial Balance December 31 Cash 6,530 Accounts Receivable 2,100 Prepaid Expenses 700 Equipment 13,700 Accumulated Depreciation 1,100 Accounts Payable 1,900 Notes Payable 4,300 Bob Steely, Capital 12,940 Bob Steely, Withdrawals 790 Fees Earned 9,250 Wages Expense 2,500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 Totals 29,490 29,490 Determine the owner’s equity...

The following is the adjusted trial balance for Stockton Company.

The following is the adjusted trial balance for Stockton Company.Stockton CompanyAdjusted Trial BalanceDecember 31Cash5,705Accounts Receivable2,671Prepaid Expenses720Equipment14,234Accumulated Depreciation2,180Accounts Payable1,720Notes Payable4,710Common Stock1,000Retained Earnings9,735Dividends934Fees Earned8,641Wages Expense2,143Rent Expense850Utilities Expense402Depreciation Expense249Miscellaneous Expense78Totals27,98627,986Determine the retained earnings ending balance.a.$13,720b.$4,919c.$10,735d.$27,986

Use the information in the adjusted trial balance to prepare the closing entries for Stockton Company....

Use the information in the adjusted trial balance to prepare the closing entries for Stockton Company. Stockton Company Adjusted Trial Balance For the Year Ended December 31, 2019 Debit Credit Cash $ 6,030 Accounts Receivable 2,100 Prepaid Expenses 700 Equipment 13,700 Accumulated Depreciation $ 1,100 Accounts Payable 1,900 Notes Payable 4,200 Capital Stock 2,000 Retained Earnings 10,940 Dividends 790 Fees Earned 8,750 Wages Expense 2,500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 85 Totals $28,890...

This is a partial adjusted trial balance of Sunland Company. SUNLAND COMPANY Adjusted Trial Balance January...

This is a partial adjusted trial balance of Sunland Company. SUNLAND COMPANY Adjusted Trial Balance January 31, 2017 Debit Credit Supplies $770 Prepaid Insurance 1,470 Salaries and Wages Payable $1,040 Unearned Service Revenue 720 Supplies Expense 800 Insurance Expense 490 Salaries and Wages Expense 1,890 Service Revenue 4,330 Prepare the closing entries at January 31, 2017.

The following is the adjusted trial balance for Nadia Company. Nadia Company Adjusted Trial Balance December...

The following is the adjusted trial balance for Nadia Company. Nadia Company Adjusted Trial Balance December 31 Account No. Debit Balances Credit Balances Cash 11 5,130 Accounts Receivable 12 3,300 Prepaid Expenses 13 420 Equipment 18 12,400 Accumulated Depreciation 19 2,200 Accounts Payable 21 700 Notes Payable (due on June 30) 22 3,070 Nadia Porter, Capital 31 13,000 Nadia Porter, Drawing 32 700 Fees Earned 41 10,930 Wages Expense 51 2,450 Rent Expense 52 1,900 Utilities Expense 53 1,475 Depreciation...

Stockton Company Adjusted Trial Balance December 31 Cash 5,069 Accounts Receivable 2,127 Prepaid Expenses 670 Equipment...

Stockton Company Adjusted Trial Balance December 31 Cash 5,069 Accounts Receivable 2,127 Prepaid Expenses 670 Equipment 14,334 Accumulated Depreciation 2,046 Accounts Payable 1,548 Notes Payable 4,392 Common Stock 1,000 Retained Earnings 10,316 Dividends 717 Fees Earned 7,216 Wages Expense 2,185 Rent Expense 849 Utilities Expense 321 Depreciation Expense 172 Miscellaneous Expense 74 Totals 26,518 26,518 Determine the total assets. $26,518 $20,154 $22,200 $11,316

The following is the Alpha Dog Company adjusted Trial Balance. Alpha Dog Company Adjusted Trial Balance...

The following is the Alpha Dog Company adjusted Trial Balance. Alpha Dog Company Adjusted Trial Balance December 31, 2016 Account Title Debit Credit Cash $42,650 Accounts Receivable 165,700 Supplies Inventory 30,255 Prepaid rent 15,900 Equipment 395,285 Accumulated Depreciation $245,760 Accounts Payable 76,055 Wages Payable 13,000 Capital Stock 200,000 Retained Earnings 105,145 Service Revenue 716,705 Interest Income 1,500 Rent Expense 63,500 Wages Expense 439,260 Supplies Expense 46,520 Depreciation Expense 154,095 Dividends 5,000 _________ Totals $1,358,165 $1,358,165 Prepare only the Asset section...

Sunland Company had the following adjusted trial balance. Sunland Company Adjusted Trial Balance For the Month...

Sunland Company had the following adjusted trial balance. Sunland Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,740 Accounts Receivable 3,770 Supplies 430 Accounts Payable $2,000 Unearned Service Revenue 200 Owner’s Capital 4,840 Owner’s Drawings 580 Service Revenue 5,100 Salaries and Wages Expense 1,500 Miscellaneous Expense 280 Supplies Expense 2,460 Salaries and Wages Payable 620 $12,760 $12,760 Prepare closing entries at June 30, 2020. (Credit account titles are automatically...

Question