Question :
91. Use the following information in the adjusted trial balance for : 1247055
91. Use the following information in the adjusted trial balance for Stockton Company to answer Questions 16-20.
Stockton Company
Adjusted Trial Balance
For the Year ended December 31, 2010
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
12,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine the stockholders’ equity ending balance for the period. A. $12,150B. $15,330C. $16,120D. $12,940
92. Use the following information in the adjusted trial balance for Stockton Company to answer Questions 16-20.
Stockton Company
Adjusted Trial Balance
For the Year ended December 31, 2010
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
12,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine total assets. A. $23,630B. $15,330C. $21,430D. $22,530
93. Use the following information in the adjusted trial balance for Stockton Company to answer Questions 16-20.
Stockton Company
Adjusted Trial Balance
For the Year ended December 31, 2010
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
12,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine the current assets. A. $22,530B. $8,830C. $21,430D. $8,130
94. Use the following information in the adjusted trial balance for Stockton Company to answer Questions 16-20.
Stockton Company
Adjusted Trial Balance
For the Year ended December 31, 2010
Cash
$ 6,030
Accounts Receivable
2,100
Prepaid Expenses
700
Equipment
13,700
Accumulated Depreciation
$ 1,100
Accounts Payable
1,900
Notes Payable
4,200
Capital Stock
12,940
Dividends
790
Fees Earned
8,750
Wages Expense
2,500
Rent Expense
1,960
Utilities Expense
775
Depreciation Expense
250
Miscellaneous Expense
85
Totals
$28,890
$28,890
Determine the total liabilities for the period. A. $1,900B. $6,100C. $4,200D. $19,040
95. The Balance Sheet should be prepared A. before the income statement and the retained earnings statementB. before the income statement and after the retained earnings statementC. after the income statement and the retained earnings statementD. after the income statement and before the retained earnings statement
96. The Retained Earnings Statement begins with the beginning balance of Retained Earnings A. plus Net Income (loss) less DividendsB. plus Net Income (loss) plus InvestmentsC. plus Capital Stock less DividendsD. plus Dividends less Net Income (loss)
97. The Income Statement will include the following accounts A. Revenues less Expenses (ordered largest to smallest amount) with Miscellaneous Expense listed lastB. Revenues less Expenses (ordered smallest to largest amounts) with Miscellaneous Expense listed lastC. Revenues less Expenses (ordered in alphabetical order)D. Revenues less Expenses (order is not important)
98. The classified Balance Sheet will subsection the assets section as follows A. Current Assets and Other AssetsB. Current Assets and Property, Plant, and EquipmentC. Current Assets and Investment RevenueD. Other Assets and Property, Plant and Equipment
99. The classified Balance Sheet will divide its Liabilities Section as the following subsections A. Current Liabilities and Long-Term LiabilitiesB. Current Liabilities and Other LiabilitiesC. Other Liabilities and Long-Term LiabilitiesD. Present Liabilities and Tomorrow’s Liabilities
100. Short-term liabilities are those liabilities that A. will be paid in less than one yearB. are due to paid in 5 to 10 yearsC. are due to be paid in more than one yearD. are liabilities owed to stockholders and will never be paid
