Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions
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Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books:
- Andrea invested $13,500 cash in the business in exchange for common stock.
- Andrea contributed $20,000 of photography equipment to the business in exchange for common stock.
- The company paid $2,100 cash for an insurance policy covering the next 24 months.
- The company received $5,700 cash for services provided during January.
- The company purchased $6,200 of office equipment on credit.
- The company provided $2,750 of services to customers on account.
- The company paid cash of $1,500 for monthly rent.
- The company paid $3,100 on the office equipment purchased in transaction #5 above.
- Paid $275 cash for January utilities.
Based on this information, the amount of total stockholders' equity reported on the Balance Sheet at the end of the month would be:
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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