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**I would just like to know if my answers are correct. Thank you!** On January 1, 2015, Red Flash Photography had the following balances: Cash,
**I would just like to know if my answers are correct. Thank you!**
On January 1, 2015, Red Flash Photography had the following balances: Cash, $19,000, Supplies, $8,700; Land, $67,000; Unearned Revenue, $5,700; Common Stock $57,000, Retained Earnings, $32,000. During 2015, the company had the following transactions 1. Issue additional shares of common stock, $27,000 2. Provide services to customers for cash, $42,000, and on account, $37000. 3. Pay salaries to employees for work in 2015, $30,000 4. Purchase rental space for one year, $19,000. 5. Purchase supplies on account, $29,000 6. Pay dividends, $2,700. The following information is available on December 31, 2015: 1. Employees are owed an additional $4,700 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $5,700 remain on hand. 4. All of the services associated with the beginning unearned revenue have been performedStep by Step Solution
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