Andrea Conaway Opened Wonderland Photography on January 1 of the Current

question 180

Multiple Choice

Andrea Conaway opened Wonderland Photography on January 1 of the current year.During January,the following transactions occurred and were recorded in the company's books:
1) Conaway invested $13,500 cash in the business.
2) Conaway 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,the balance in the Andrea Conaway,Capital account reported on the Statement of Owner's Equity at the end of the month would be:

• A)$31,400.
• B)$39,200.
• C)$31,150.
• D)$40,175.
• E)$30,875.

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Definitions:

Supermarket

An inventory area that holds common items that are replenished by a kanban system.

Department Store

A retail establishment offering a wide variety of merchandise across different categories, distinct from specialized or boutique stores that focus on a single category.

Assembly Line Balancing

The process of optimizing the allocation of tasks among workstations in an assembly line to minimize downtime and maximize efficiency.

Product Layout

An arrangement of resources in a production process according to the sequence of operations for products.