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Stockton Company Adjusted Trial Balance December 31 Account Debit Credit No. Balances Balances Cash 11 5,551 Accounts Receivable 12 2,161 Prepaid Expenses 13 629 Equipment
Stockton Company Adjusted Trial Balance December 31 Account Debit Credit No. Balances Balances Cash 11 5,551 Accounts Receivable 12 2,161 Prepaid Expenses 13 629 Equipment 18 15,769 Accumulated Depreciation 19 1,370 Accounts Payable 24 21 1,781 Notes Payable 22 5,069 Bob Steely, Capital 31 13,924 Bob Steely, Drawing 32 717 Fees Earned 41 7,232 Wages Expense 51 2,982 Rent Expense 52 837 Utilities Expense 53 394 Depreciation Expense 54 216 Miscellaneous Expense 59 120 Totals 29,376 29,376 Rent Expense 52 837 Utilities Expense 53 394 Depreciation Expense 54 216 Miscellaneous Expense 59 120 Totals 29,376 Determine the net income (loss) for the period. Oa. Net income is $29,376. Ob. Net loss is $6,059. Oc. Net income is $2,683. Od. Net loss is $2,683
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