Use the adjusted trial balance for Stockton Company below to answer the questions that follow.

-Determine the total assets.
A) $25,130
B) $16,830
C) $22,930
D) $24,030

Question

Use the adjusted trial balance for Stockton Company below to answer the questions that follow.
  ​
-Determine the total assets.
A) $25,130 
B) $16,830 
C) $22,930 
D) $24,030

Quizplus · Accepted Answer

Total assets = Cash + Accounts receivable + Prepaid expenses + (Equipment - Accumulated depreciation) = $7,530 + $2,100 + $700 + ($13,700 - $1,100) = $22,930

Use the Adjusted Trial Balance for Stockton Company Below to Answer