Question
Please find the Trial Balance, Income Statement, Statement of SE, and Balance Sheet On January 1, 2021, Red Flash Photography had the following balances: Cash,
Please find the Trial Balance, Income Statement, Statement of SE, and Balance Sheet
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.
3. August 31 Pay salaries to employees for work in 2021, $34,000.
4. October 1 Purchase rental space for one year, $23,000.
5. November 17 Purchase supplies on account, $33,000.
6. December 30 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.
Please find the Trial Balance, Income Statement, Statement of SE, and Balance Sheet
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