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

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The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,

Totals 30,384 30,384 Determine the retained earnings ending balance. Oa. $1,465 Ob. $13,297 Oc. $30,384 Od. $13,022

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Answer 1

Answer #1


Income Statement
Revenues
Fees earned	6,030
Total revenue		6,030
Expeneses
Wages expense	-3,001
Rent expense	-878
utilities expense	-358
Depreciation expense	-208
Micsellaneous expense	-120
Total expenses		-4,565
Net profit		$1,465



Statement of Retained Earnings
Beginning retained earnings		12,297
Add: Net profit	1,465
Less:Dividends	-740
		725
Retained earnings, Ending		$13,022

Retained earning ending balance = $13,022

Correct option is (d)

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Answer 2

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