Andrea Apple opened Apple Photography on January 1 of the current year. DuringJanuary, the following transactions occurred and were recorded in the company's book1. Andrea 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 office furniture.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 #5above.9. Paid $275 cash for January utilities.Based on this information, the amount reported as Owner Capital on the balance sheetat month-end would be:

An owners capital account is the equity account in the balance sheet of a business. It represents…

Answered: Based on this information, the amount…

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Based on this information, the amount reported as Owner Capital on the balance sheet at month-end would be:

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 1PB: In July of this year, M. Wallace established a business called Wallace Realty. The account headings...

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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 book
1. Andrea 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 office furniture.
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 amount reported as Owner Capital on the balance sheet
at month-end would be:

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