1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dovator [93]
3 years ago
10

Andrea Apple opened Apple Photography, Inc. on January 1 of the current year. During January, the following transactions occurre

d and were recorded in the company's books:
1. Andrea invested $13,600 cash in the business in exchange for common stock.
2. Andrea contributed $21,000 of photography equipment to the business.
3. The company paid $2,200 cash for an Insurance policy covering the next 24 months.
4. The company received $5,800 cash for services provided during January.
5. The company purchased $6,300 of office equipment on credit.
6. The company provided $2,850 of services to customers on account.
7. The company paid cash of $1,600 for monthly rent.
8. The company paid $3,200 on the office equipment purchased in transaction #5 above.
9. The company paid $285 cash for January utilities.
Required:
Based on this information, the balance in the cash account at the end of January would be:_____.
a) $15,450.
b) $12,115.
c) $13,500.
Business
1 answer:
nalin [4]3 years ago
6 0

Answer:

Apple Photography, Inc.

Based on this information, the balance in the cash account at the end of January would be:_____.

b) $12,115.

Explanation:

a) Cash Account

Common Stock   $13,600

Insurance              (2,200)

Service Revenue   5,800)

Rent                       (1,600)

Office equipment (3,200)

Utilities                     (285)

Balance                $12,115

b) Apple Photography, Inc had a balance in the cash account at the end of January of $12,115 which was the difference between the cash inflows and cash outflows during the month.  The inflows represented cash received by Apple Photography  from the owners and customers and the cash paid for running the business.

You might be interested in
Which one of the following is an example of systematic risk? Multiple Choice Investors panic causing security prices around the
Rus_ich [418]

Answer:

Multiple Choice Investors panic causing security prices around the globe to fall precipitously

3 0
3 years ago
Tom borrows $100,000 from his local bank to purchase inventory for his store for the upcoming holiday season. Tom's neighbor tel
uranmaximum [27]

Answer:pyramid scheme

Explanation:

5 0
3 years ago
According to Anne Roe’s personality theory of career choice, people choose occupational fields based on their ______________, wh
Gekata [30.6K]

According to Anne Roe’s personality theory of career choice, people choose occupational fields based on their <u>need structures</u>, which were influenced by the childhood environments that they experienced.

<u>Explanation</u>:

Anne Roe’s personality theory of career choice was well explained in her book <u>“Psychology of Occupations”</u>. There are certain factors that influence in deciding the career of a person. The factors are psychology, biology and sociology of a person.

Individuals decide their field of work based on their demands and needs. The childhood experience may also influence the occupation field of the person. Need structure provides the requirement of the person according to their lifestyle and requirements.

4 0
2 years ago
Consider the following information about an asset that is being review for impairment: Book value $ 700,000 Estimate future cash
erastovalidia [21]

Answer:

The amount of the impairment loss for this asset is <u>$110,000</u>

Explanation:

A assets is impaired when the fair market value of that assets lowers than the book value of the asset.

To calculate the impairment of an assets following formula is used

Impairent = Book value of Asset -  fair market value of the asset

Placing values in the formula

Impairent = $700,000 -  $590,000

Impairent = <u>$110,000</u>

3 0
3 years ago
Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. Microeconomics
jeka57 [31]

Answer:

The correct answers are:

A) The effects of the Internet on the pricing of used cars.  (Microeconomics)

B) The effect of government regulation on a monopolist's production decisions . (Microeconomics)

C) The effects of government tax policy on long-term economic growth. (Macroeconomics)

Explanation:

The field of economics is usually broken down into two broad categories: Microeconomics and Macroeconomics. The goal of all economics is to analyze the production and consumption of finite resources like oil, wheat, capital or even labor. Microeconomics observes these issues from an individual or business perspective. Macroeconomics looks at the issues from the perspective of the country as a whole, and the policies affecting the economy. Thus:

A) The effects of the Internet on the pricing of used cars. (Microeconomics)

B) The effect of government regulation on a monopolist's production decisions. (Microeconomics)

C) The effects of government tax policy on long-term economic growth (Macroeconomics)

3 0
2 years ago
Other questions:
  • Ikea offers young customers a selection of home furnishings featuring good design, function, and acceptable quality at low price
    13·1 answer
  • 'Nagia Steel Pvt. Ltd.' has divided the whole of its business into five departments. Now the
    10·1 answer
  • Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the des
    8·1 answer
  • At year end, CurlZ Inc.'s inventory consists of 100 bottles of CleanZ with a cost of $1, and a selling price of $0.80 per bottle
    5·1 answer
  • BEST ANSWER WILL GET BRAINLIST PLZ HELP MEE
    13·1 answer
  • Naomi is an achievement-oriented, efficient project manager who generally attributes her success to her own actions but tends to
    15·1 answer
  • Hyperlink is a feature that - a- calculates data in a cell B- connects test in the doc to an outside source C- saves a worksheet
    6·1 answer
  • A state government reported a $9,000 increase in net position in the motor pool internal service fund, a $12,000 increase in net
    6·1 answer
  • How do you changing prices affect supply and demand?
    13·1 answer
  • How much annual income would you need to have if, using the 28/36 ratio, your maximum allowable recurring debt is $380? a. $16,2
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!