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On January 1, 2021, Red Flash Photography had the following balances: Cash, $23,000; Supplies, $9,100; Land, $71,000; Deferred Revenue, $6,100; Common Stock $61,000; and
On January 1, 2021, Red Flash Photography had the following balances: Cash, $23,000; Supplies, $9,100; Land, $71,000; Deferred Revenue, $6,100; Common Stock $61,000; and Retained Earnings, $36,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $31,000. 2. May 20 Provide services to customers for cash, $46,000, and on account, $41,000. Pay salaries to employees for work in 2021, $34,000. 3. August 31 4. October 1 5. November 17 6. December 30 Paid for one year's rent in advance, $23,000. Purchase supplies on account, $33,000. Pay dividends, $3,100. The following information is available on December 31, 2021: 1. Employees are owed an additional $5,100 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $6,100 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed. Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. (Enter all account descriptions, even those with zero balances.) Post-closing RED FLASH PHOTOGRAPHY Balance Sheet As of December 31, 2021 Dates: Jan 01 to: Dec 31 Assets Current Assets: Liabilities Current Liabilities: $ 0 $ 0 0 0 0 0 0 0 0 Total Current Liabilities 0 0 0 0 0 Total Current Assets Long-term Assets: 0 Total Liabilites 0 Stockholder's Equity 0 0 0 0 Total Stockholders' Equity 0 Total Liabilities & Stockholders' Equity Total Assets $ < Statement of SE Balance Sheet > 0 $ 0
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