Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31     AccountNo. DebitBalances CreditBalances Cash 11 6,809     Accounts Receivable 12 2,710     Prepaid Expenses 13 764     Equipment 18 13,545     Accumulated Depreciation 19     1,359 Accounts Payable 21     1,472 Notes Payable 22     4,388 Bob Steely, Capital 31     15,721 Bob Steely, Drawing 32 791     Fees Earned 41     6,067 Wages Expense 51 3,029     Rent Expense 52 734     Utilities Expense 53 302     Depreciation Expense 54 260     Miscellaneous Expense 59 63     Totals     29,007 29,007 Use the adjusted trial balance for Stockton Company. Determine the current assets. a.$9,519 b.$29,007 c.$22,469 d.$10,283

Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31     AccountNo. DebitBalances CreditBalances Cash 11 6,507     Accounts Receivable 12 2,836     Prepaid Expenses 13 767     Equipment 18 14,507     Accumulated Depreciation 19     1,376 Accounts Payable 21     1,688 Notes Payable 22     4,961 Bob Steely, Capital 31     15,159 Bob Steely, Drawing 32 675     Fees Earned 41     6,224 Wages Expense 51 2,547     Rent Expense 52 818     Utilities Expense 53 491     Depreciation Expense 54 190     Miscellaneous Expense 59 70     Totals     29,408 29,408 Determine the current assets. a.$9,343 b.$10,110 c.$23,241 d.$29,408

Required information [The following information applies to the questions displayed below.] The following transactions apply to Jova Company for Year 1, the first year of operation: 1. Issued $12,000 of common stock for cash. 2. Recognized $67,000 of service revenue earned on account. 3. Collected $59,600 from accounts receivable. 4. Paid operating expenses of $35,300. 5. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account. The following transactions apply to Jova for Year 2: 1. Recognized $74,500 of service revenue on account. 2. Collected $67,600 from accounts receivable. 3. Determined that $940 of the accounts receivable were uncollectible and wrote them off. 4. Collected $200 of an account that had previously been written off. 5. Paid $48,900 cash for operating expenses. 6. Adjusted the accounts to recognize…

Meman

Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31     AccountNo. DebitBalances CreditBalances Cash 11 6,946     Accounts Receivable 12 2,302     Prepaid Expenses 13 632     Equipment 18 14,319     Accumulated Depreciation 19     1,405 Accounts Payable 21     1,499 Notes Payable 22     4,301 Bob Steely, Capital 31     15,223 Bob Steely, Drawing 32 634     Fees Earned 41     7,214 Wages Expense 51 3,364     Rent Expense 52 829     Utilities Expense 53 351     Depreciation Expense 54 172     Miscellaneous Expense 59 93     Totals     29,642 29,642 Determine the net income (loss) for the period.

create a balance sheet for the following:   Adjusted Trial Balance Account Titles Dr Cr Cash 26,143   Equity securities portolio 47,521   Fair value adjustment 3,585   Accounts receivable 284,171   Allowance for doubtful accounts   14,209 Inventory 623,636   Prepaid insurance 11,080   Land 414,518   Buildings 1,455,667   Accumulated depreciation-bldg   490,534 Equipment 1,041,038   Accumulated depreciation-equip   337,259 Deferred tax asset 6,000   Patent 17,970   Accounts payable   205,799 Income taxes payable   108,659 Note payable   42,000 Bonds payable   300,000 Premium on bonds payable   16,038 Preferred stock (5%, $100 par)   200,000 Common stock ($10 par value)   400,000 Paid-In capital in excess of par   471,999 Retained earnings   934,729 Dividends 90,000   Sales revenue   4,634,536 Cost of goods sold 3,172,647   Salaries and wages expense 580,593   Advertising expense 65,641   Depreciation expense 161,167…

Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 Line Item Description Amount Amount Cash 6,378   Accounts Receivable 2,868   Prepaid Expenses 617   Equipment 14,382   Accumulated Depreciation   10,346 Accounts Payable   1,575 Notes Payable   4,014 Common Stock   1,000 Retained Earnings   6,349 Dividends 760   Fees Earned   6,365 Wages Expense 3,050   Rent Expense 864   Utilities Expense 443   Depreciation Expense 225   Miscellaneous Expense 62   Total 29,649 29,649 Determine the net income (loss) for the period. a. net income $961 b. net loss $961 c. net loss $1,721 d. net income $1,721

Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton CompanyAdjusted Trial BalanceDecember 31 Line Item Description Amount Amount Cash 6,616   Accounts Receivable 2,752   Prepaid Expenses 744   Equipment 14,898   Accumulated Depreciation   9,632 Accounts Payable   1,420 Notes Payable   4,773 Common Stock   1,000 Retained Earnings   5,496 Dividends 675   Fees Earned   7,067 Wages Expense 2,008   Rent Expense 839   Utilities Expense 498   Depreciation Expense 273   Miscellaneous Expense 85   Total 29,388 29,388 Determine the total liabilities for the period. a. $15,378 b. $6,193 c. $6,496 d. $15,825

Presented below is the December 31 trial balance of New York Boutique. New York BoutiqueTrial BalanceDecember 31      Debit    Credit Cash $  18,500   Accounts Receivable 32,000   Allowance for Doubtful Accounts   $      700 Inventory, December 31 80,000   Prepaid Insurance 5,100   Equipment 84,000   Accumulated Depreciation—Equipment   35,000 Notes Payable   28,000 Common Stock   80,600 Retained Earnings   10,000 Sales Revenue   600,000 Cost of Goods Sold 408,000   Salaries and Wages Expense (sales) 50,000   Advertising Expense 6,700   Salaries and Wages Expense (administrative) 65,000   Supplies Expense    5,000 000,000   $754,300 $754,300 Instructions a.    Construct T-accounts and enter the balances shown. b.    Prepare adjusting journal entries for the following and post to the T-accounts. (Omit explanations.) Open additional T-accounts as necessary. (The books are closed yearly on December 31.) 1.    Bad debt expense to be recorded is…

mework Assignment i Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity RELETEORRE Interest expense Income tax expense Total costs and expenses Net income KEREKE Earnings per share DENNE SLAP BOGATE Current Year For both the current year and one year ago, compute the following ratios: $ 32,893 100, 248 123,571 10,593 307,446 $574,751 monosokom. $ 144,544 105,892 162,500 161,815 $574, 751 $ 455,777 231, 625 12,702 9,713 The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Current Year…