Use the adjusted trial balance for Stockton Company to answer the question that follows.

Stockton Company

Adjusted Trial Balance

December $31$

Line Item Description Amount Amount

Cash $5,268$

Accounts Receivable $2,793$

Prepaid Expenses $747$

Equipment $13,727$

Accumulated Depreciation $1,402$

Accounts Payable $1,453$

Notes Payable $5,023$

Common Stock $1,000$

Retained Earnings $9,998$

Dividends $824$

Fees Earned $8,096$

Wages Expense $2,035$

Rent Expense $800$

Utilities Expense $457$

Depreciation Expense $220$

Miscellaneous Expense $101$

Total $26,97226,972$

Determine the total liabilities for the period.a$.$ $$21,133$

b$.$ $$10,998$

c$.$ $$6,476$

d$.$ $$7,878$

Answer rating: 100% (QA)

To determine the total liabilities for the period we need to look at the Adjus... View the full answer