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Business, 20.09.2019 18:10 trevionc0322

On january 1, 2021, red flash photography had the following balances: cash, $25,000; supplies, $9,300; land, $73,000; deferred revenue, $6,300; common stock $63,000; and retained earnings, $38,000. during 2021, the company had the following transactions: 1. february 15 issue additional shares of common stock, $33,000. 2. may 20 provide services to customers for cash, $48,000, and on account, $43,000. 3. august 31 pay salaries to employees for work in 2021, $36,000. 4. october 1 purchase rental space for one year, $25,000. 5. november 17 purchase supplies on account, $35,000. 6. december 30 pay dividends, $3,300. the following information is available on december 31, 2021: employees are owed an additional $5,300 in salaries. three months of the rental space has expired. supplies of $6,300 remain on hand. all of the services associated with the beginning deferred revenue have been performed. 4. prepare an income statement, statement of stockholders’ equity, and classified balance sheet.

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On january 1, 2021, red flash photography had the following balances: cash, $25,000; supplies, $9,...
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