following transactions: 1. February 15 Issue additional shares of common stock, $30,000. 2. May 20 Provide services to customers for cash, $45,000, 3. August 31 Pay salaries to employees for work in 2021, $33,00 4. October 1 Purchase rental space for one year, $22,000. 5. November 17 Purchase supplies on account, $32,000. 6. December 30 Pay dividends, $3,000.

following transactions: 1. February 15 Issue additional shares of common stock, $30,000. 2. May 20 Provide services to customers for cash, $45,000, 3. August 31 Pay salaries to employees for work in 2021, $33,00 4. October 1 Purchase rental space for one year, $22,000. 5. November 17 Purchase supplies on account, $32,000. 6. December 30 Pay dividends, $3,000.

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Description: 9 Required information[The following information applies to the questions displayed below.]On January 1, 2021, Red Flash Photography had the following balances: Cash, $22,000; Supplies, $9,000; Land, $70,000;Deferred Revenue, $6,000; Common Stock $60

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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