MC Qu 139 Andrea Apple opened Apple Photography on Andrea Ap

MC Qu. 139 Andrea Apple opened Apple Photography o.n... 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 $14,100 cash in the business in exchange for common stock 2. Andrea contributed $26,000 of photography equipment to the business in exchange for common stock. 3. The company paid $2,700 cash for an insurance policy covering the next 24 months. 4. The company received $6.300 cash for services provided during January 5. The company purchased $6,800 of office equipment on credit. 6. The company provided $3,350 of services to customers on account. 7. The company paid cash of $2,100 for monthly rent. 8. The company paid $3,700 on the office equipment purchased in transaction #5 above. 9. Paid $335 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: Multiple Choice

Solution

ans) Ending capital balance = $14100 ( from 1) + 26000 (from 2) + 6300 (from 4) + 3350 ( from 6) - 2100 ( from 7) - 335 (from 9)

= 47315