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 5,367 Accounts Receivable 2,667 Prepaid Expenses 723 Equipment 15,391 Accumulated Depreciation 3,900 Accounts Payable 1,739 Notes Payable 5,136 Common Stock 1,000 Retained Earnings 9,948 Dividends 767 Fees Earned 7,796 Wages Expense 3,167 Rent Expense 774 Utilities Expense 334 Depreciation Expense 204 Miscellaneous Expense 125 Total 29,519 29,519 Determine the total liabilities for the period. a. $6,875 b. $20,248 c. $10,948 d. $10,775
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 5,367 Accounts Receivable 2,667 Prepaid Expenses 723 Equipment 15,391 Accumulated Depreciation 3,900 Accounts Payable 1,739 Notes Payable 5,136 Common Stock 1,000 Retained Earnings 9,948 Dividends 767 Fees Earned 7,796 Wages Expense 3,167 Rent Expense 774 Utilities Expense 334 Depreciation Expense 204 Miscellaneous Expense 125 Total 29,519 29,519 Determine the total liabilities for the period. a. $6,875 b. $20,248 c. $10,948 d. $10,775
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Use the adjusted
Line Item Description | Amount | Amount |
---|---|---|
Cash | 5,367 | |
2,667 | ||
Prepaid Expenses | 723 | |
Equipment | 15,391 | |
3,900 | ||
Accounts Payable | 1,739 | |
Notes Payable | 5,136 | |
Common Stock | 1,000 | |
9,948 | ||
Dividends | 767 | |
Fees Earned | 7,796 | |
Wages Expense | 3,167 | |
Rent Expense | 774 | |
Utilities Expense | 334 | |
Depreciation Expense | 204 | |
Miscellaneous Expense | 125 | |
Total | 29,519 | 29,519 |
Determine the total liabilities for the period.
a. $6,875
b. $20,248
c. $10,948
d. $10,775
AI-Generated Solution
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education