Reference no: EM132461293

On January 1, 2021, Red Flash Photography had the following balances:

Cash,                 $23,000;

Supplies,              $9,100;

Land,                 $71,000;

Deferred Revenue, $6,100;

Common Stock      $61,000; and

Retained Earnings, $36,000.

During 2021, the company had the following transactions:

1. February 15 Issue additional shares of common stock, $31,000.

2. May 20 Provide services to customers for cash, $46,000, and on account, $41,000.

3. August 31 Pay salaries to employees for work in 2021, $34,000

.4. October 1 Purchase rental space for one year, $23,000.

5. November 17 Purchase supplies on account, $33,000.

6. December 30 Pay dividends, $3,100.

The following information is available on December 31, 2021:

1. Employees are owed an additional $5,100 in salaries.
2. Three months of the rental space has expired.
3. Supplies of $6,100 remain on hand.
4. All of the services associated with the beginning deferred revenue have been performed.

Question 1. Prepare an adjusted trial balance.