Question

On January 1, 2021, Red Flash Photography had the following balances: Cash, $13,000; Supplies, $8,100; Land, $61,000; Deferred Revenue, $5,100; Common Stock $51,000; and Retained Earnings, $26,000. During 2021, the company had the following transactions:

1.		February		15		Issue additional shares of common stock, $21,000.
2.		May		20		Provide services to customers for cash, $36,000, and on account, $31,000.
3.		August		31		Pay salaries to employees for work in 2021, $24,000.
4.		October		1		Purchase rental space for one year, $13,000.
5.		November		17		Purchase supplies on account, $23,000.
6.		December		30		Pay dividends, $2,100.

The following information is available on December 31, 2021:

1. Employees are owed an additional $4,100 in salaries.
2. Three months of the rental space has expired.
3. Supplies of $5,100 remain on hand.
4. All of the services associated with the beginning deferred revenue have been performed.

First row and column one & first column last row- options

Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Using the dropdown buttons, select the item that accurately describes the values that either increase or decrease the balance indicated. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Dates: Jan 01 to: Dec 30 RED FLASH PHOTOGRAPHY Statement of Stockholders' Equity For the Period Ended December 31, 2021 Common Retained Stock Earnings Total Stockholders' Equity $ 0 0 0 0 $ 0 $ 0 $ 0 < Income Statement Balance Sheet >

• Balance at December 1
• Balance at December 31
• Balance at January 1
• Balance at January 31

Answer 1

On top it should be Adjusted

Statement of Stockholder's Equity
	Common Stock	Retained Earnings	Total
Balance at January 1	$          51,000	$       26,000	$          77,000
Add Issue of shares	$          21,000
Add Net Income		$       14,750	$          14,750
Less Dividends		$        -2,100	$           -2,100
Balance at December 31	$          72,000	$       38,650	$        110,650

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