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Andrea Apple Opened Apple Photography on January 1 of the Current

question 74

Multiple Choice

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.
Andrea contributed $20,000 of photography equipment to the business.
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.
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Based on this information, the balance in the cash account at the end of January would be:

Analyze total asset turnover and its impact on company performance.

Calculate and interpret price-earnings ratios.

Understand the calculation and significance of return on equity (ROE).

Examine return on total assets (ROTA) and its implications for financial performance.

Definitions:

Fillers

Lineup members other than the suspect who are known to be innocent of the crime.

Own-Race Bias

The finding that witnesses are more accurate in identifying members of their own race than members of another race.

Match-To-Suspect Approach

A technique in forensic science where evidence brought from a crime scene is compared to samples from a suspect to establish a link or match.

Eyewitness Identification

A legal process in which a witness of a crime is asked to identify a perpetrator from a lineup of suspects, significantly influencing the outcomes of criminal investigations and trials.