Use the following information in the adjusted trial balance for Stockton Company
ID: 2443007 • Letter: U
Question
Use the following information in the adjusted trial balance for Stockton Company to answer Questions.
Stockton Company
Adjusted Trial Balance
For the Year ended December 31, 2010
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
12,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine the current assets.
A. $22,530
B. $8,830
C. $21,430
D. $8,130
Determine the total liabilities for the period.
A. $1,900
B. $6,100
C. $4,200
D. $19,040
Stockton Company
Adjusted Trial Balance
For the Year ended December 31, 2010
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
12,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Explanation / Answer
Current Assets= B)8830 Total Liab=D) 19040
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