Question
Calculator Use the adjusted trial balance for Stockton Company to answer the question that follows Stockton...
Calculator Use the adjusted trial balance for Stockton Company to answer the question that follows Stockton Company Adjusted Trial Balance December 31 Accoun / / / / / / / / / / / / / 1,359 / Account Debit Credit I No. Balances Balances Cash 1 5,992 Accounts Receivable 2,578 Prepaid Expenses Equipment 18 3,723 Accumulated Depreciation Accounts Payable 21 1,731 Notes Payable 5.827 Bob Steely, Capital 10,589 Bob Steely, Drawing Fees Eamed Wages Expense 2,067 Rent Expense 887 Utilities Expense 332 Depreciation Expense 54 203 Miscellaneous Expense 59 Totals 27,416 27,416 Use the adjusted trial balance for Stockton Company. Determine the owner's equity ending balance for the period. 30 Os $16,521 Ob. $16,189 Oc. $14,122 Od. $17,405
Answers
Answer:- c. $14,122
Computation:-
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Calculation of Owner's equity Bob Steel Capital Obemirna Balance 10589 * Ner Profit 4341 Drawings (808) 3533 Low Ending Balance - 14122 * Calculation of Ner Profit :- + fee Farned – wages Ex perases – Rent Expenses - Grilities Expenses - Depreciation - Miscellaneous Expenses g) 7910-206 3 – 887 - 332- 203- 80 3 $ 4341
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