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Use the adjusted trial balance for Stockton OCompany. Determine the current asset. Stockton Company Adjusted Trial Balance December 31 Account Debit Credit No. Balances Balances Cash 11 7,530 Accounts Receivable 12 2,100 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 153 775 Depreciation Expense 54 250 Miscellancous Expense 59 185 Totals 29,490 29,490 6) Account Debit Credit No. Balances Balances Cash 11 7,530 Accounts Receivable 12 2,100 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 185 Totals 29,490 29,490 $12,150 $15,730 $9,630 $6,200 3. 59

Use the adjusted trial balance for Stockton OCompany. Determine the current asset. Stockton Company Adjusted Trial Balance December 31 Account Debit Credit No. Balances Balances Cash 11 7,530 Accounts Receivable 12 2,100 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 153 775 Depreciation Expense 54 250 Miscellancous Expense 59 185 Totals 29,490 29,490 6) Account Debit Credit No. Balances Balances Cash 11 7,530 Accounts Receivable 12 2,100 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 185 Totals 29,490 29,490 $12,150 $15,730 $9,630 $6,200 3. 59

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 5MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at...
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Use the adjusted trial balance for Stockton OCompany. Determine the current asset. Stockton Company Adjusted Trial Balance December 31 Account Debit Credit No. Balances Balances Cash 11 7,530 Accounts Receivable 12 2,100 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 153 775 Depreciation Expense 54 250 Miscellancous Expense 59 185 Totals 29,490 29,490 6)
Transcribed Image Text:Use the adjusted trial balance for Stockton OCompany. Determine the current asset. Stockton Company Adjusted Trial Balance December 31 Account Debit Credit No. Balances Balances Cash 11 7,530 Accounts Receivable 12 2,100 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 153 775 Depreciation Expense 54 250 Miscellancous Expense 59 185 Totals 29,490 29,490 6)
Account Debit Credit No. Balances Balances Cash 11 7,530 Accounts Receivable 12 2,100 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 185 Totals 29,490 29,490 $12,150 $15,730 $9,630 $6,200 3. 59
Transcribed Image Text:Account Debit Credit No. Balances Balances Cash 11 7,530 Accounts Receivable 12 2,100 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 185 Totals 29,490 29,490 $12,150 $15,730 $9,630 $6,200 3. 59
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