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 $6,840$

Accounts Receivable $2,696$

Prepaid Expenses $627$

Equipment $14,262$

Accumulated Depreciation $10,181$

Accounts Payable $1,468$

Notes Payable $5,165$

Common Stock $1,000$

Retained Earnings $3,161$

Dividends $894$

Fees Earned $7,851$

Wages Expense $2,210$

Rent Expense $725$

Utilities Expense $324$

Depreciation Expense $197$

Miscellaneous Expense $51$

Total $28,82628,826$

Determine the total liabilities for the period.

  

Answer rating: 100% (QA)

To determine the total liabilities for the period we need to sum up the amounts of all liabilities ... View the full answer