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Use the ledger account balances for Stockton Company below to answer the following five parts. Cash $7,530 Accounts Receivable (A/R) 2,100 Prepaid Expenses 700 Equipment
Use the ledger account balances for Stockton Company below to answer the following five parts.
Cash | $7,530 |
Accounts Receivable (A/R) | 2,100 |
Prepaid Expenses | 700 |
Equipment | 13,700 |
Accumulated Depreciation | 1,100 |
Accounts Payable (A/P) | 1,900 |
Notes Payable (N/P) | 4,300 |
Stock | 1,000 |
Retained Earnings | 12,940 |
Dividends | 790 |
Revenues | 9,250 |
Wages Expense | 2,500 |
Rent Expense | 1,960 |
Utilities Expense | 775 |
Depreciation Expense | 250 |
SG&A Expense | 185 |
Totals | $30,490 |
Determine the net income (loss) for the period.
Determine the retained earnings ending balance.
Determine the total assets.
Determine the current assets.
Determine the total liabilities.
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