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Required information [The following information applies to the questions displayed below.) On January 1, 2018, Red...


Required information [The following information applies to the questions displayed below.) On January 1, 2018, Red Flash Phot
3. Prepare an adjusted trial balance. RED FLASH PHOTOGRAPHY Adjusted Trial Balance December 31, 2018 Accounts Debit Credit Ca
Required information [The following information applies to the questions displayed below.) On January 1, 2018, Red Flash Photography had the following balances: Cash, $22,000; Supplies, $9,000; Land, $70,000; Deferred Revenue, $6,000; Common Stock $60,000; Retained Earnings, $35,000. During 2018, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $30,000. 2. May 20 Provide services to customers for cash. $45,000, and on account, $40,000 3. August 31 Pay salaries to employees for work in 2018, $33,000. 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. The following information is available on December 31, 2018: 1. Employees are owed an additional $5,000 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $6,000 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed
3. Prepare an adjusted trial balance. RED FLASH PHOTOGRAPHY Adjusted Trial Balance December 31, 2018 Accounts Debit Credit Cash Supplies
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