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

Stockton company
Adjusted trial balance
December 31
Money	7,530
accounts receivable	2100
Prepaid expenses	700
Equipment	13,700
Accumulated depreciation		1,100
Accounts payable		1,900
Pay		4,300
Common actions		1,000
Retained earnings		12,940
dividends	790
earned fees		9,250
salary expenses	2,500
Rental costs	1,960
Public service spending	775
depreciation expense	250
Miscellaneous expenses	185
Totals	30.490	30.490

Determine the ending balance of retained earnings.

Answer rating: 100% (QA)

To determine the ending balance of retained earnings we need to start with the beginning balance of ... View the full answer