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Use the adjusted trial balance for Stockton Company to answer the questions that follow Stockton Company Adjusted Trial Balance December 31 6530 2.100 700 13,700
Use the adjusted trial balance for Stockton Company to answer the questions that follow Stockton Company Adjusted Trial Balance December 31 6530 2.100 700 13,700 813BT T T 1.100 1,900 4.300 12.940 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Bob Steely, Capital Bob Steely. Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals 790 9.250 2,500 1,960 775 5. Determine the total liabilities for the period. a. $1,900 b. 56,200 c. $4,300 d. $20,240 6. The journal entry to close the Fees Earned, $750, and Rent Revenue, $175, accounts during the year-end closing process would be: a. Dec. 31 Fees Earned 750 Rent Revenue 175 Income Summary 925 b. Dec. 31 Income Summary Fees Earned Rent Revenue c. Dec. 31 Revenues Income Summary d. Dec. 31 Income Summary Revenues
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