Stockton Company Adjusted Trial Balance December 31 Cash 6,373 Accounts Receivable 2,824 Prepaid Expenses 727 Equipment...
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Stockton Company
Adjusted Trial Balance
December 31Cash 6,373 Accounts Receivable 2,824 Prepaid Expenses 727 Equipment 13,608 Accumulated Depreciation 4,676 Accounts Payable 1,412 Notes Payable 5,081 Common Stock 1,000 Retained Earnings 10,166 Dividends 872 Fees Earned 6,130 Wages Expense 2,642 Rent Expense 755 Utilities Expense 390 Depreciation Expense 182 Miscellaneous Expense 92 Totals 28,465 28,465 Determine the retained earnings ending balance.
a.$11,166
b.$2,069
c.$11,363
d.$28,465
Homework Answers
Retained earnings opening balance = $10,166
Income earned
= Fees earned - Wages earned - Rent expense - Utilities expense - Depreciation expense - Miscellaneous expense
= 6,130 - 2,642 - 755 - 390 - 182 - 92
= $2,069
Retained earnings closing balance
= Opening balance + Income earned - Dividend paid
= 10,166 + 2,069 - 872
= $11,363
Therefore the correct option is C
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Stockton Company
Adjusted Trial Balance
December 31
Cash
6,373
Accounts Receivable
2,824
Prepaid Expenses
727
Equipment...
Stockton Company Adjusted Trial Balance December 31 Cash 5,847 Accounts Receivable 2,572 Prepaid Expenses 703 Equipment...
Stockton Company Adjusted Trial Balance December 31 Cash 5,847 Accounts Receivable 2,572 Prepaid Expenses 703 Equipment 13,888 Accumulated Depreciation 8,034 Accounts Payable 1,792 Notes Payable 4,726 Common Stock 1,000 Retained Earnings 3,608 Dividends 764 Fees Earned 8,471 Wages Expense 2,378 814 Rent Expense Utilities Expense 431 Depreciation Expense 157 Miscellaneous Expense 77 Totals 27,631 27,631 Determine the retained earnings ending balance. $7,458 $4,608 $27,631 $4,614
Stockton Company Adjusted Trial Balance December 31 Cash 5,486 Accounts Receivable 2,180 612 Prepaid Expenses Equipment...
Stockton Company Adjusted Trial Balance December 31 Cash 5,486 Accounts Receivable 2,180 612 Prepaid Expenses Equipment 15,311 Accumulated Depreciation 2,423 Accounts Payable 1,482 4,334 1,000 12,606 940 Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 7,302 3,115 815 435 199 54 Totals 29,147 29,147 Determine the total liabilities for the period. $8,239
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable 5,538 2,319 718 13,753 8,084 1,417 Notes Payable 5,701 1,000 Common Stock Retained Earnings Dividends 3,254 960 Fees Earned 8,397 Wages Expense Rent Expense 3,185 797 342 Utilities Expense Depreciation Expense Miscellaneous Expense 174 67 Totals 27,853 27,853 Determine the retained earnings ending balance. a. $27,853 b. $6,126 c. $3,832 d. $4,254
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,412 Accounts Receivable 2,853 Prepaid Expenses 686 15,128 Equipment Accumulated Depreciation 4,731 Accounts Payable 1,663 Notes Payable 4,663 Common Stock 1,000 Retained Earnings 12,297 Dividends 740 Fees Earned 6,030 Wages Expense 3,001 Rent Expense 878 Utilities Expense 358 208 Depreciation Expense Miscellaneous Expense 120 Totals 30.384 30.384 Totals 30,384 30,384 Determine the retained earnings ending balance. Oa. $1,465 Ob. $13,297 Oc. $30,384...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,095 Accounts Receivable 2,947 Prepaid Expenses 734 Equipment 14,809 Accumulated Depreciation 8,323 Accounts Payable 1,403 Notes Payable 4,681 Common Stock 1,000 Retained Earnings 7,339 Dividends 679 Fees Earned 7,413 Wages Expense 3,322 Rent Expense 845 Utilities Expense 412 Depreciation Expense 207 Miscellaneous Expense 109 Totals 30,159 30,159 Determine the total assets. a.$30,159 b.$16,262 c.$24,585 d.$8,339
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,930 Accounts Receivable 2,888 Prepaid Expenses 714 Equipment 13,149 Accumulated Depreciation 10,672 Accounts Payable 1,685 Notes Payable 5,436 Common Stock 1,000 Retained Earnings 2,557 Dividends 783 Fees Earned 7,449 Wages Expense 2,782 Rent Expense 874 Utilities Expense 345 Depreciation Expense 258 Miscellaneous Expense 76 Totals 28,799 28,799 Determine the current assets. a.$3,557 b.$28,799 c.$10,532 d.$13,009
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,997 Accounts Receivable 2,292 771 15,829 2,700 1,559 5,170 1,000 11,350 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 Totals 822 8,552 2,987 842 445 235 111 30,331 30,331 Determine the total assets. Oa. $30,331 Ob. $24,889 Oc. $22,189 Od. $12,350
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,765 Accounts Receivable 2,829 Prepaid Expenses 744 Equipment 15,548 Accumulated Depreciation 6,376 Accounts Payable 1,565 Notes Payable 4,189 Common Stock 1,000 Retained Earnings 7,695 Dividends 815 Fees Earned 8,543 Wages Expense 2,243 Rent Expense 702 Utilities Expense 478 Depreciation Expense 185 Miscellaneous Expense 59 Totals 29,368 29,368 Determine the net income (loss) for the period. a.Net income $4,061 b.Net loss $4,061 c.Net...
Calculator December 31 6,255 2,779 633 14,739 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts...
Calculator December 31 6,255 2,779 633 14,739 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 9,207 1,466 4,449 1,000 4,958 790 8,202 2,543 798 458 182 105 29,282 Totals 29,282 Determine the net income (loss) for the period. Oa. Net income $3,326 Ob. Net loss $3,326 Oc. Net loss $4,116 Od. Net income $4,116 Next > Email Instructor Submit...
Calculator Adjusted Trial Balance December 31 Cash 6,901 Accounts Receivable 2,109 668 Prepaid Expenses Equipment Accumulated...
Calculator Adjusted Trial Balance December 31 Cash 6,901 Accounts Receivable 2,109 668 Prepaid Expenses Equipment Accumulated Depreciation 14,901 2,329 1,426 Accounts Payable Notes Payable 5,050 Common Stock 1,000 Retained Earnings 13,181 Dividends 899 Fees Earned 6,903 Wages Expense 2,865 Rent Expense 730 Utilities Expense 500 Depreciation Expense 203 Miscellaneous Expense 113 Totals 29,889 29,889 Determine the total assets. O
Stockton Company Adjusted Trial Balance December 31 Cash 5,847 Accounts Receivable 2,572 Prepaid Expenses 703 Equipment 13,888 Accumulated Depreciation 8,034 Accounts Payable 1,792 Notes Payable 4,726 Common Stock 1,000 Retained Earnings 3,608 Dividends 764 Fees Earned 8,471 Wages Expense 2,378 814 Rent Expense Utilities Expense 431 Depreciation Expense 157 Miscellaneous Expense 77 Totals 27,631 27,631 Determine the retained earnings ending balance. $7,458 $4,608 $27,631 $4,614
Stockton Company Adjusted Trial Balance December 31 Cash 5,486 Accounts Receivable 2,180 612 Prepaid Expenses Equipment 15,311 Accumulated Depreciation 2,423 Accounts Payable 1,482 4,334 1,000 12,606 940 Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 7,302 3,115 815 435 199 54 Totals 29,147 29,147 Determine the total liabilities for the period. $8,239
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable 5,538 2,319 718 13,753 8,084 1,417 Notes Payable 5,701 1,000 Common Stock Retained Earnings Dividends 3,254 960 Fees Earned 8,397 Wages Expense Rent Expense 3,185 797 342 Utilities Expense Depreciation Expense Miscellaneous Expense 174 67 Totals 27,853 27,853 Determine the retained earnings ending balance. a. $27,853 b. $6,126 c. $3,832 d. $4,254
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,412 Accounts Receivable 2,853 Prepaid Expenses 686 15,128 Equipment Accumulated Depreciation 4,731 Accounts Payable 1,663 Notes Payable 4,663 Common Stock 1,000 Retained Earnings 12,297 Dividends 740 Fees Earned 6,030 Wages Expense 3,001 Rent Expense 878 Utilities Expense 358 208 Depreciation Expense Miscellaneous Expense 120 Totals 30.384 30.384 Totals 30,384 30,384 Determine the retained earnings ending balance. Oa. $1,465 Ob. $13,297 Oc. $30,384...
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,997 Accounts Receivable 2,292 771 15,829 2,700 1,559 5,170 1,000 11,350 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 Totals 822 8,552 2,987 842 445 235 111 30,331 30,331 Determine the total assets. Oa. $30,331 Ob. $24,889 Oc. $22,189 Od. $12,350
Calculator December 31 6,255 2,779 633 14,739 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 9,207 1,466 4,449 1,000 4,958 790 8,202 2,543 798 458 182 105 29,282 Totals 29,282 Determine the net income (loss) for the period. Oa. Net income $3,326 Ob. Net loss $3,326 Oc. Net loss $4,116 Od. Net income $4,116 Next > Email Instructor Submit...
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