Stockton Company Adjusted Trial Balance December 31 Cash 6,313 Accounts Receivable 2,648 Prepaid Expenses 712 Equipment 13,569 Accumulated Depreciation 7,899 Accounts Payable 1,775 Notes Payable 5,716 Common Stock 1,000 Retained Earnings 3,397 Dividends 859 Fees Earned 8,303 Wages Expense 2,424 Rent Expense 822 Utilities Expense 450 Depreciation Expense 230 Miscellaneous Expense 63 Totals 28,090 28,090 Determine the retained earnings ending balance.
Stockton Company Adjusted Trial Balance December 31 Cash 6,313 Accounts Receivable 2,648 Prepaid Expenses 712 Equipment 13,569 Accumulated Depreciation 7,899 Accounts Payable 1,775 Notes Payable 5,716 Common Stock 1,000 Retained Earnings 3,397 Dividends 859 Fees Earned 8,303 Wages Expense 2,424 Rent Expense 822 Utilities Expense 450 Depreciation Expense 230 Miscellaneous Expense 63 Totals 28,090 28,090 Determine the retained earnings ending balance.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
| Stockton Company Adjusted December 31 |
||
| Cash | 6,313 | |
| Accounts Receivable | 2,648 | |
| Prepaid Expenses | 712 | |
| Equipment | 13,569 | |
| Accumulated Depreciation | 7,899 | |
| Accounts Payable | 1,775 | |
| Notes Payable | 5,716 | |
| Common Stock | 1,000 | |
| 3,397 | ||
| Dividends | 859 | |
| Fees Earned | 8,303 | |
| Wages Expense | 2,424 | |
| Rent Expense | 822 | |
| Utilities Expense | 450 | |
| Depreciation Expense | 230 | |
| Miscellaneous Expense | 63 | |
| Totals | 28,090 | 28,090 |
Determine the retained earnings ending balance.
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