Use the following information in the adjusted trial balance for Stockton Company
ID: 2372356 • Letter: U
Question
Use the following information in the adjusted trial balance for Stockton Company to answer the following questions.
Stockton Company
Adjusted Trial Balance
For the Year ended December 31, 20XX
Cash $ 6,030
Accounts Receivable 2,100
Prepaid Expenses 700
Equipment 13,700
Accumulated Depreciation $ 1,100
Accounts Payable 1,900
Notes Payable 4,200
Bob Steely, Capital 12,940
Bob Steely, Withdrawals (-) 790
Fees Earned 8,750
Wages Expense 2,500
Rent Expense 1,960
Utilities Expense 775
Depreciation Expense 250
Miscellaneous Expense 85
Totals $28,890 $28,890
Deteremine the total assets?
Explanation / Answer
Cash + Accounts Receivable + Prepaid Expenses + Equipment - Accumulated Depreciation
$6,030 + $2,100 + $700 + $13,700 - $1,100 = $21,430 = Total Assets
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