The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,656   Accounts Receivable 2,514   Prepaid Expenses 601   Equipment 13,610   Accumulated Depreciation   8,613 Accounts Payable   1,506 Notes Payable   5,552 Common Stock   1,000 Retained Earnings   2,397 Dividends 875   Fees Earned   8,848 Wages Expense 2,125   Rent Expense 893   Utilities Expense 317   Depreciation Expense 238   Miscellaneous Expense 87   Totals 27,916 27,916 Determine the total liabilities for the period.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 21E: (Appendix 21.1) Visual Inspection The following changes in account balances were taken from Walson...
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    The following is the adjusted trial balance for Stockton Company.

    Stockton Company
    Adjusted Trial Balance
    December 31
    Cash 6,656  
    Accounts Receivable 2,514  
    Prepaid Expenses 601  
    Equipment 13,610  
    Accumulated Depreciation   8,613
    Accounts Payable   1,506
    Notes Payable   5,552
    Common Stock   1,000
    Retained Earnings   2,397
    Dividends 875  
    Fees Earned   8,848
    Wages Expense 2,125  
    Rent Expense 893  
    Utilities Expense 317  
    Depreciation Expense 238  
    Miscellaneous Expense 87  
    Totals 27,916 27,916

    Determine the total liabilities for the period.

     
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