Question

Andrea Apple opened Apple Photography, Inc. on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books:
1 - Andrea, the stockholder, invested $13,500 cash in the business.
2 - Andrea contributed $20,000 of photography equipment to the business.
3 - The company paid $2,100 cash for an insurance policy covering the next 24 months.
4 - The company received $5,700 cash for services provided during January.
5 - The company purchased $6,200 of office equipment on credit.
6 - The company provided $2,750 of services to customers on account.
7 - The company paid cash of $1,500 for monthly rent.
8 - The company paid $3,100 on the office equipment purchased in transaction #5 above.
9 - Paid $275 cash for January utilities.
Based on this information, the balance in the stockholders' equity reported on the Balance Sheet at the end of the month would be:
(a)- $31,400.
(b)- $39,200.
(c)- $31,150.
(d)- $40,175.
(e)- $30,875.

Answer 1

Answer:c

Explanation: