The following is the adjusted trial balance for Stockton Company. Stockton Compa

Question

The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses Equipment 5,977 2,061 798 15,783 12,881 1,741 4,845 1,000 2,106 Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals Determine the retained earnings ending balance O $2,792 746 6,947 2,624 722 442 272 95 29,520 29,520 $4,152 $3,106 O $29,520

Explanation / Answer

Solution:$4,152

Working:

Amount Retained earnings given $2,106 Add: fees Earned 6,947 Less: dividend -746 Wages Expense -2,624 Rent Expense -722 Utilities Expense -442 Depreciation Expense -272 Miscellaneous expense -95 Retained earnings ending balance $4,152

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