Use the adjusted trial balance for Stockton Company. Determine the current asset. Stockton Company Adjusted Trial...
Use the adjusted trial balance for Stockton Company. Determine the current asset.
|
Stockton Company |
|||
|
Adjusted Trial Balance |
|||
|
December 31 |
|||
|
Account No. |
Debit Balances |
Credit Balances |
|
|
Cash |
11 |
6,000 |
|
|
Accounts Receivable |
12 |
2,500 |
|
|
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 |
|
|
$12,150 |
||
|
$15,730 |
||
|
$7,630 |
||
|
$8,500 |
Homework Answers
Answer
· Current Assets are those assets that get converted to ‘cash form’ in the short period of time, and it includes CASH too.
· Here, Current asset = $ 6000 Cash +
$ 2500 accounts receivables + $ 700 prepaid expenses
= $ 9,200
· Correct Answer = $ 9200 [none of the options matches with this answer]
Add Answer to:
Use the adjusted trial balance for Stockton Company. Determine
the current asset.
Stockton Company
Adjusted Trial...
Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton Company...
Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton Company Adjusted Trial Balance December 31 Account No. Debit Balances Credit Balances HA ge 2,100 700 13,700 Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Bob Steely, Capital Bob Steely, Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals IIIIIIIIIII 1,100 1,900 4,300 12,940 790 9,250 2,500 1,960 775 250 59 185 29.490 29.490 Use the adjusted...
Use the adjusted trial balance for Stockton Company below to answer the questions that follow- Stockton...
Use the adjusted trial balance for Stockton Company below to answer the questions that follow- Stockton Company Adjusted Trial Balance December 31 7,530 2,100 700 13,700 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 Totals 1,100 1,900 4,300 1,000 12,940 790) 9,250 2,500 1,960 775 250 185 30,490 30.490 6. Determine the net income (loss) for the period. a....
Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton...
Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton Company Adjusted Trial Balance December 31 7,530 2,100 700 13,700 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 Totals 1.100 1,900 4,300 1,000 12,940 790 9,250 2,500 1,960 775 250| 185 30,490 30,490 9. Determine the total liabilities for the period. a. $1,900...
1. determine the total assets ? 2. Adjusting entries are required at the end of the...
1.
determine the total assets ?
2. Adjusting entries are required at the end of the
accounting period in order to fulfill the _____
principle.
a.matching
b.objectivity
c.business entity
d.going concern
3. Under the revenue recognition principle, revenues are
recorded______
a.when earned or when cash is received, depending on which
occurs first
b.when cash is received
c.when earned
d.in the same period as related expenses
Use the adjusted trial balance for Stockton Company to answer the question tha Stockton Company...
Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton...
Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton Company Adjusted Trial Balance December 31 7,530 2,100 700 13,700 1,100 1,900 4,300 1,000 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 Totals 12,9401 790 9,250 2,500 1.960 775 2501 185 30,490 30,490 14. Determine the net income (loss) for the period. a....
d. the final guies will below to answer the questions that for Use the adjusted trial...
d. the final guies will below to answer the questions that for Use the adjusted trial balance for Stockton Company below to answer th Stockton Company Adjusted Trial Balance December 31 7,530) 2,100 700 13,700 1 1,100 1,900 4,300 1,000 12,940 790 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 Totals 9,250 2,500 1,960 7751 - 250 185 30,490...
Calculator Use the adjusted trial balance for Stockton Company to answer the question that follows Stockton...
Calculator Use the adjusted trial balance for Stockton Company to answer the question that follows Stockton Company Adjusted Trial Balance December 31 Accoun / / / / / / / / / / / / / 1,359 / Account Debit Credit I No. Balances Balances Cash 1 5,992 Accounts Receivable 2,578 Prepaid Expenses Equipment 18 3,723 Accumulated Depreciation Accounts Payable 21 1,731 Notes Payable 5.827 Bob Steely, Capital 10,589 Bob Steely, Drawing Fees Eamed Wages Expense 2,067 Rent Expense 887...
A v2.ceng genow.com CU + Cannot Open Page Cengage CengageNOWV2 Online tea Calculator December 31 Account...
A v2.ceng genow.com CU + Cannot Open Page Cengage CengageNOWV2 Online tea Calculator December 31 Account No. Debit Balances Credit Balances Cash 116 ,530 Accounts Receivable 12 2.100 Prepaid Expenses 13 7 00 Equipment 18 13.700 Accumulated Depreciation 19 1.100 Accounts Payable 21 1.900 Notes Payable Bob Steely, Capital 31 1 12.940 Bob Steely, Drawing 32 790 Fees Eamed 9.250 Wages Expense 2.500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 Totals | 29.490 29.490 Use...
Use the adjusted trial balance for Stockton Company below to answer the question that follow. Stockton...
Use the adjusted trial balance for Stockton Company below to answer the question that follow. Stockton Company Adjusted Trial Balance December 31 Cash 6,000 Accounts Receivable 2,100 Prepaid Expenses 1,000 Supplies 500 Equipment 150,000 Accumulated Depreciation 15,000 Accounts Payable 6,200 Unearned Fees 4,000 Notes Payable 14,000 Bob Steely, Capital 19,000 Bob Steely, Withdrawals 8,000 Fees Earned 154,900 Wages Expense 25,000 Rent Expense 12,000 Utilities Expense 3,400 Depreciation Expense 5,000 Miscellaneous Expense 100 Totals 213,100 213,100 In the space below, calculate:...
1,The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December...
1,The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,884 Accounts Receivable 2,586 Prepaid Expenses 673 Equipment 13,187 Accumulated Depreciation 4,507 Accounts Payable 1,680 Notes Payable 4,505 Common Stock 1,000 Retained Earnings 9,345 Dividends 760 Fees Earned 7,072 Wages Expense 2,404 Rent Expense 872 Utilities Expense 461 Depreciation Expense 170 Miscellaneous Expense 112 Totals 28,109 28,109 Determine the total liabilities for the period. a,$10,692 b,$18,823 c,$6,185 d,$10,345 2, On June 8,...
Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton Company Adjusted Trial Balance December 31 Account No. Debit Balances Credit Balances HA ge 2,100 700 13,700 Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Bob Steely, Capital Bob Steely, Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals IIIIIIIIIII 1,100 1,900 4,300 12,940 790 9,250 2,500 1,960 775 250 59 185 29.490 29.490 Use the adjusted...
Use the adjusted trial balance for Stockton Company below to answer the questions that follow- Stockton Company Adjusted Trial Balance December 31 7,530 2,100 700 13,700 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 Totals 1,100 1,900 4,300 1,000 12,940 790) 9,250 2,500 1,960 775 250 185 30,490 30.490 6. Determine the net income (loss) for the period. a....
Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton Company Adjusted Trial Balance December 31 7,530 2,100 700 13,700 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 Totals 1.100 1,900 4,300 1,000 12,940 790 9,250 2,500 1,960 775 250| 185 30,490 30,490 9. Determine the total liabilities for the period. a. $1,900...
1.
determine the total assets ?
2. Adjusting entries are required at the end of the
accounting period in order to fulfill the _____
principle.
a.matching
b.objectivity
c.business entity
d.going concern
3. Under the revenue recognition principle, revenues are
recorded______
a.when earned or when cash is received, depending on which
occurs first
b.when cash is received
c.when earned
d.in the same period as related expenses
Use the adjusted trial balance for Stockton Company to answer the question tha Stockton Company...
Use the adjusted trial balance for Stockton Company below to answer the questions that follow. Stockton Company Adjusted Trial Balance December 31 7,530 2,100 700 13,700 1,100 1,900 4,300 1,000 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 Totals 12,9401 790 9,250 2,500 1.960 775 2501 185 30,490 30,490 14. Determine the net income (loss) for the period. a....
d. the final guies will below to answer the questions that for Use the adjusted trial balance for Stockton Company below to answer th Stockton Company Adjusted Trial Balance December 31 7,530) 2,100 700 13,700 1 1,100 1,900 4,300 1,000 12,940 790 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 Totals 9,250 2,500 1,960 7751 - 250 185 30,490...
Calculator Use the adjusted trial balance for Stockton Company to answer the question that follows Stockton Company Adjusted Trial Balance December 31 Accoun / / / / / / / / / / / / / 1,359 / Account Debit Credit I No. Balances Balances Cash 1 5,992 Accounts Receivable 2,578 Prepaid Expenses Equipment 18 3,723 Accumulated Depreciation Accounts Payable 21 1,731 Notes Payable 5.827 Bob Steely, Capital 10,589 Bob Steely, Drawing Fees Eamed Wages Expense 2,067 Rent Expense 887...
A v2.ceng genow.com CU + Cannot Open Page Cengage CengageNOWV2 Online tea Calculator December 31 Account No. Debit Balances Credit Balances Cash 116 ,530 Accounts Receivable 12 2.100 Prepaid Expenses 13 7 00 Equipment 18 13.700 Accumulated Depreciation 19 1.100 Accounts Payable 21 1.900 Notes Payable Bob Steely, Capital 31 1 12.940 Bob Steely, Drawing 32 790 Fees Eamed 9.250 Wages Expense 2.500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 Totals | 29.490 29.490 Use...
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