Use the adjusted trial balance for Stockton Company to answer the question that follow. Stockton CompanyAdjusted Trial BalanceDecember 31 Line Item Description Amount Amount Cash 6,654 Accounts Receivable 2,078 Prepaid Expenses 695 Equipment 13,651 Accumulated Depreciation 6,992 Accounts Payable 1,596 Notes Payable 5,744 Common Stock 1,000 Retained Earnings 6,153 Dividends 935 Fees Earned 6,555 Wages Expense 2,497 Rent Expense 814 Utilities Expense 387 Depreciation Expense 222 Miscellaneous Expense 107 Total 28,040 28,040 Determine the retained earnings ending balance. a. $2,528 b. $7,746 c. $28,040 d. $7,153
Use the adjusted trial balance for Stockton Company to answer the question that follow. Stockton CompanyAdjusted Trial BalanceDecember 31 Line Item Description Amount Amount Cash 6,654 Accounts Receivable 2,078 Prepaid Expenses 695 Equipment 13,651 Accumulated Depreciation 6,992 Accounts Payable 1,596 Notes Payable 5,744 Common Stock 1,000 Retained Earnings 6,153 Dividends 935 Fees Earned 6,555 Wages Expense 2,497 Rent Expense 814 Utilities Expense 387 Depreciation Expense 222 Miscellaneous Expense 107 Total 28,040 28,040 Determine the retained earnings ending balance. a. $2,528 b. $7,746 c. $28,040 d. $7,153
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 5E: Multiple-Step and Single-Step In coin Statements The following items were derived from Gold...
Related questions
Question
Use the adjusted
| Line Item Description | Amount | Amount |
|---|---|---|
| Cash | 6,654 | |
| Accounts Receivable | 2,078 | |
| Prepaid Expenses | 695 | |
| Equipment | 13,651 | |
| 6,992 | ||
| Accounts Payable | 1,596 | |
| Notes Payable | 5,744 | |
| Common Stock | 1,000 | |
| Retained Earnings | 6,153 | |
| Dividends | 935 | |
| Fees Earned | 6,555 | |
| Wages Expense | 2,497 | |
| Rent Expense | 814 | |
| Utilities Expense | 387 | |
| Depreciation Expense | 222 | |
| Miscellaneous Expense | 107 | |
| Total | 28,040 | 28,040 |
Determine the retained earnings ending balance.
a. $2,528
b. $7,746
c. $28,040
d. $7,153
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