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om Cengage Learning - Microsoft Edge /takeAssignmentMain.do?invoker as ntSessionlocator-assignment-take&inprogress false Calculator Stockton Company Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses Equipment 6,772 2,678 783 13,584 11,991 1,423 4,391 1,000 4,644 Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals 813 6,057 3,261 829 489 238 59 29,506 29,506

Explanation / Answer

Ans:

statement showing the value of total assets:

Note: All assets and expenses shows debit balance in the trial balance, In the given adjusted trial balance, the accounts relating to expenses were not considered in computing the total value of assets. Only the debit balances of real accounts are considered in relation to calculation of total assets.

THANK YOU, feel free to ask in case of any further clarification.

Asset value(in $) cash 6,772 Accounts receivables 2,678 Prepaid expenses 783 Equipment 13,584 Total value of assets 23,817

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