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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

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

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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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
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