Andrea Conaway Opened Wonderland Photography on January 1 of the Current

question 102

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: 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:

Conjunctival Sac

The thin, protective space between the eyelid and the eye itself, where eye drops or medications can be administered.

Eye Drops

A liquid medication or solution administered into the eye to treat a variety of conditions, such as infections, dryness, or glaucoma.

Gregarious

Characterized by a love of being in the company of others; sociable.

Sociable

The characteristic of being inclined to seek out and enjoy the company of others, often characterized by friendliness and the ability to interact well in social situations.