Reference no: EM132478438
Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books:
Point 1: Andrea invested $14,900 cash in the business in exchange for common stock.
Point 2: Andrea contributed $34,000 of photography equipment to the business.
Point 3: The company paid $3,500 cash for an insurance policy covering the next 24 months.
Point 4: The company received $7,100 cash for services provided during January.
Point 5: The company purchased $7,600 of office equipment on credit.
Point 6: The company provided $4,150 of services to customers on account.
Point 7: The company paid cash of $2,900 for monthly rent.
Point 8: The company paid $4,500 on the office equipment purchased in transaction #5 above.
Point 9: Paid $415 cash for January utilities.
Question 1: Based on this information, the balance in the cash account at the end of January would be:
Multiple Choice
- $10,685.
- $59,650.
- $18,050.
- $14,835.
- $22,900.
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