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I will appreciare if anyone can explain me the procediment to find current assets Use the adjusted trial balance for Stockton Company below to answer
I will appreciare if anyone can explain me the procediment to find current assets
Use the adjusted trial balance for Stockton Company below to answer the questions that follow.
Stockton Company | ||
Adjusted Trial Balance | ||
December 31 | ||
Cash | 7,530 | |
Accounts Receivable | 2,100 | |
Prepaid Expenses | 700 | |
Equipment | 13,700 | |
Accumulated Depreciation | 1,100 | |
Accounts Payable | 1,900 | |
Notes Payable | 4,300 | |
Common Stock | 1,000 | |
Retained Earnings | 12,940 | |
Dividends | 790 | |
Fees Earned | 9,250 | |
Wages Expense | 2,500 | |
Rent Expense | 1,960 | |
Utilities Expense | 775 | |
Depreciation Expense | 250 | |
Miscellaneous Expense | 185 | |
Totals | 30,490 | 30,490 |
Determine the current assets.
a.$9,330 ANSWER
b.$8,630
c.$21,930
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