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question the following information applies to the questions displayed below on janua 4290121

Question

The following information applies to the questions displayed below On January 1, 2018, Red Flash Photography had the following balances: Cash, $15,000; Supplies, S8,300; Land, $63,000; Deferred Revenue, $5,300; Common Stock $53,000; Retained Earnings, $28,000. During 2018, the company had the following transactions: 1. February 15 Issue additional shores of common stock, $23,000. 2. May 20 Provide services to customers for cash, $38,000, and on account, $33,000. 3. August 31 Pay salaries to employees for work in 2018, $26,000. 4. October 1 Purchase rental space for one year, $15,000. 5. November 17 Purchase supplies on account. $25,000. 6. December 30 Pay dividends, $2.300. The following information is available on December 31, 2018 1. Employees are owed an additional $4,300 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $5,300 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed.

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