The following is the adjusted trial balance for Stockton Company.Stockton CompanyAdjusted Trial BalanceDecember 31Cash6,978 Accounts Receivable2,666 Prepaid Expenses718 Equipment15,306 Accumulated Depreciation 12,972Accounts Payable 1,770Notes Payable 4,399Common Stock 1,000Retained Earnings 3,181Dividends747 Fees Earned 7,228Wages Expense2,621 Rent Expense751 Utilities Expense407 Depreciation Expense247 Miscellaneous Expense109 Totals30,55030,550Determine the total assets.$30,550$25,668$4,181$12,696

Assets normally have debit balance. Increase in assets is debited and decrease in asset is…

Answered: The following is the adjusted trial…

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Chapter2: Analyzing Transactions

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The following is the adjusted trial balance for Stockton Company.

Stockton Company Adjusted Trial Balance December 31
Cash	6,978
Accounts Receivable	2,666
Prepaid Expenses	718
Equipment	15,306
Accumulated Depreciation		12,972
Accounts Payable		1,770
Notes Payable		4,399
Common Stock		1,000
Retained Earnings		3,181
Dividends	747
Fees Earned		7,228
Wages Expense	2,621
Rent Expense	751
Utilities Expense	407
Depreciation Expense	247
Miscellaneous Expense	109
Totals	30,550	30,550