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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
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, 2019 Cash Dh 6,030 Accounts Receivable 2,100 Prepaid Expenses 700 Equipment 13,700 Accumulated Depreciation Accounts Payable Notes Payable Stockton, Capital Stockton, Withdrawals 790 Fees Earned Wages Expense 2,500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 85 Totals Dh28,890 Dh 1.100 1,900 4,200 12,940 8,750 Dh28,890 Required: a) Determine the net income (loss) for the period (show your working). (3 marks) b) Prepare a balance sheet for Stockton Company
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