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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 Cash 11 6,229     Accounts Receivable 12 2,959     Prepaid Expenses 13 774     Equipment 18 15,707     Accumulated Depreciation 19     1,478 Accounts Payable 21     1,752 Notes Payable 22     4,562 Bob Steely, Capital 31     14,878 Bob Steely, Drawing 32 883     Fees Earned 41     8,566 Wages Expense 51 3,227     Rent Expense 52 858     Utilities Expense 53 312     Depreciation Expense 54 216     Miscellaneous Expense 59 71     Totals     31,236 31,236 Determine the total liabilities for the period. a.$4,562 b.$1,752 c.$6,314 d.$15,707

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 Cash 11 6,229     Accounts Receivable 12 2,959     Prepaid Expenses 13 774     Equipment 18 15,707     Accumulated Depreciation 19     1,478 Accounts Payable 21     1,752 Notes Payable 22     4,562 Bob Steely, Capital 31     14,878 Bob Steely, Drawing 32 883     Fees Earned 41     8,566 Wages Expense 51 3,227     Rent Expense 52 858     Utilities Expense 53 312     Depreciation Expense 54 216     Miscellaneous Expense 59 71     Totals     31,236 31,236 Determine the total liabilities for the period. a.$4,562 b.$1,752 c.$6,314 d.$15,707

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter3: Basic Accounting Systems: Accrual Basis
Section: Chapter Questions
Problem 3.23E: Adjustment for depreciation The estimated amount of depredation on equipment for the current year is...
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  1. 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
    Cash 11 6,229    
    Accounts Receivable 12 2,959    
    Prepaid Expenses 13 774    
    Equipment 18 15,707    
    Accumulated Depreciation 19     1,478
    Accounts Payable 21     1,752
    Notes Payable 22     4,562
    Bob Steely, Capital 31     14,878
    Bob Steely, Drawing 32 883    
    Fees Earned 41     8,566
    Wages Expense 51 3,227    
    Rent Expense 52 858    
    Utilities Expense 53 312    
    Depreciation Expense 54 216    
    Miscellaneous Expense 59 71    
    Totals     31,236 31,236

    Determine the total liabilities for the period.

    a.$4,562
    b.$1,752
    c.$6,314
    d.$15,707
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