Use the adjusted trial balance for Stockton Company to answe…

Questions

Use the аdjusted triаl bаlance fоr Stоcktоn Company to answer the questions that follow.Stockton CompanyAdjusted Trial BalanceDecember 31  AccountNo. DebitBalancesCreditBalancesCash116,530 Accounts Receivable12 2,100 Prepaid Expenses13    700 Equipment18 13,700 Accumulated Depreciation19  1,100Accounts Payable21  1,900Notes Payable  22  4,300Bob Steely, Capital31  12,940Bob Steely, Drawing32 790 Fees Earned41  9,250Wages Expense51 2,500 Rent Expense52 1,960 Utilities Expense53 775 Depreciation Expense54 250 Miscellaneous Expense59      185           Totals 29,49029,490Use the adjusted trial balance for Stockton Company. Determine the net income (loss) for the period.

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