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A L + E + NE - NE + NE NE + NE NE + + + NE a) March 3: Jack Tasker (a shareholder), received share capital in ABC Inc., after investing $25,000 of supplies into the business. b) At month-end: The monthly depreciation on the equipment is $230. c) At month-end: The monthly depreciation on the building is $390. d) At month-end: $1,250 of the insurance policy purchased in advance has expired. e) March 15: Collected $100 of interest from the bank today. 1) March 3: ABC Inc. collected $4,250 from a customer for work to be done in six weeks. g) At month-end: A review of the $42,000 unadjusted balance in the prepaid rent account shows a remaining balance of $35,250 at the end of the month. h) March 17: $3,000 of supplies purchased on credit in an earlier transaction were found to be defective. They were returned 1) March 25: ABC Inc. paid $1,700 towards the bill from an earlier transaction. 1) March 23: ABC Inc. purchased $200 of supplies on credit. k) At month-end: $8,000 of the rent paid in advance has been used. D) At month-end: of the consulting fees ABC Inc. received in advance, $1,000 has been earned. m) March 10: Jack Tasker (a shareholder), received share capital in ABC Inc., after investing $10,000 cash and $15,000 worth of equipment in ABC Inc. n) March 2: ABC Inc. bought $800 of supplies paying $200 cash and $600 on account. o) March 17: Furniture was rented by a customer for $1,300 on credit. NE + + NE NE + + NE NE NE + + A L + E + NE - NE + NE NE + NE NE + + + NE a) March 3: Jack Tasker (a shareholder), received share capital in ABC Inc., after investing $25,000 of supplies into the business. b) At month-end: The monthly depreciation on the equipment is $230. c) At month-end: The monthly depreciation on the building is $390. d) At month-end: $1,250 of the insurance policy purchased in advance has expired. e) March 15: Collected $100 of interest from the bank today. 1) March 3: ABC Inc. collected $4,250 from a customer for work to be done in six weeks. g) At month-end: A review of the $42,000 unadjusted balance in the prepaid rent account shows a remaining balance of $35,250 at the end of the month. h) March 17: $3,000 of supplies purchased on credit in an earlier transaction were found to be defective. They were returned 1) March 25: ABC Inc. paid $1,700 towards the bill from an earlier transaction. 1) March 23: ABC Inc. purchased $200 of supplies on credit. k) At month-end: $8,000 of the rent paid in advance has been used. D) At month-end: of the consulting fees ABC Inc. received in advance, $1,000 has been earned. m) March 10: Jack Tasker (a shareholder), received share capital in ABC Inc., after investing $10,000 cash and $15,000 worth of equipment in ABC Inc. n) March 2: ABC Inc. bought $800 of supplies paying $200 cash and $600 on account. o) March 17: Furniture was rented by a customer for $1,300 on credit. NE + + NE NE + + NE NE NE + +

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