Solution-What the balance in the cash account at the end of

What the balance in the cash account at the end of January

Reference no: EM133011324

Question - 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:

1. Andrea invested $13,500 cash in the business.

2. Andrea contributed $20,000 of photography equipment to the business.

3. The company paid $2,100 cash for an insurance policy covering the next 24 months.

4. The company received $5,700 cash for services provided during January.

5. The company purchased $6,200 of office equipment on credit.

6. The company provided $2,750 of services to customers on account.

7. The company paid cash of $1,500 for monthly rent.

8. The company paid $3,100 on the office equipment purchased in transaction #5 above.

9. Paid $275 cash for January utilities.

Based on this information, what the balance in the cash account at the end of January?

A: 41,450.00

B: 12,225.00

C: 18,700.00

D: 15,250.00

Reference no: EM133011324

Questions Cloud

Determine the cost of the inventory : Company then paid an additional $ 5 for each unit, corresponding to loading and unloading the merchandise. You mush to determine the cost of the inventory

Which a subsequent event for an entity with a december : Which a subsequent event for an entity with a December 31, 2021, year-end would not include? an acquisition of another company in January 2022.

Calculate the value of closing work in process : Prepare a production cost worksheet (i.e. calculate the value of closing work in process and units finished and transferred out) with supporting schedules

Research a story of an organization : Research a story of an organization to which success is attributable to human resources. Briefly narrate the story

What the balance in the cash account at the end of January : Andrea contributed $20,000 of photography equipment to the business. What the balance in the cash account at the end of January

What is the amount of current assets for a company : What is the amount of current assets, assuming the accounts above reflect normal activity? Supplies 40,000 Notes payable (due in 18 months) 35,000

Explain what the role of a management accountant : Explain what the role of a management accountant is and justify why your post should not be cut as part of cost savings

What possible marketing claims about company : What possible marketing claims about company's relationship with the amazonian tribe Would cross a line into unethical territory?

Which would be an amount computed using horizontal analysis : Which would be an amount computed using horizontal analysis? The difference between current assets and current liabilities at the end of the year.

User Account

All Pages

What the balance in the cash account at the end of January

Reference no: EM133011324

Reference no: EM133011324

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT