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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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32.
-
Use the adjusted
trial balance for Stockton Company to answer the question that follows.Stockton Company
Adjusted Trial Balance
December 31Account
No.Debit
BalancesCredit
BalancesCash 11 6,912 Accounts Receivable 12 2,948 Prepaid Expenses 13 689 Equipment 18 14,440 Accumulated Depreciation 19 1,203 Accounts Payable 21 1,683 Notes Payable 22 5,756 Bob Steely, Capital 31 14,457 Bob Steely, Drawing 32 732 Fees Earned 41 6,268 Wages Expense 51 2,243 Rent Expense 52 796 Utilities Expense 53 383 Depreciation Expense 54 161 Miscellaneous Expense 59 63 Totals 29,367 29,367 Use the adjusted trial balance for Stockton Company. Determine the current assets.
a.$29,367b.$10,549c.$23,786d.$9,860
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