Andrea Apple Opened Apple Photography, Inc

question 123

Multiple Choice

Andrea Apple opened Apple Photography, Inc. on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books: 1. Andrea, the stockholder, 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, the balance in the stockholders' equity reported on the Balance Sheet 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:

Federal Government

The national government of a country, which holds the highest authority over governmental affairs, often composed of executive, legislative, and judicial branches.

Provincial Government

The administrative bodies governing provinces or states within a country, responsible for local laws and policies under the federal system.

High-risk Work

Jobs or tasks that have a higher likelihood of causing harm or injury to the people performing them, often requiring special training and safety measures.

Workplace Violence

Acts of violence or threats that occur within the workplace, affecting the safety and wellbeing of employees.