March 1 SeverCos stockholders invested $30,000 cash in the company. ...

50.1K

Verified Solution

Question

Accounting

March

1

SeverCos stockholders invested $30,000 cash in the company.

2

The company purchased $25,000 in construction equipment. It paid $5,000 in cash and signed a note payable promising to pay the $20,000 over the next three years.

2

The company rented office space and paid $1,000 cash for the March rent.

6

The company bought office supplies in the amount of $750 for use over the next two months.

7

The company completed a landscaping job for a customer on credit in the amount of $7,500.

8

The company purchased a $2,500 riding lawn mower for the business on credit.

9

The company completed landscaping work for additional customers in the amount of $10,000, immediately collecting cash.

15

The company paid its landscaping and administrative employees salaries of $3,750 for the first half of the month.

17

The company installed a new pond and waterfall feature for a customer and immediately collected $3,500.

20

The company received $7,500 in payments from the customers billed on March 7.

28

The company paid $1,000 on the lawn mower purchased on March 8. It will pay the remaining balance in May.

31

The company paid its employees salaries of $3,750 for the second half of the month.

31

The company paid a vendor $2,500 for landscaping supplies purchased and used during March.

31

The company paid $325 cash for this months utility bill.

SeverCo Construction
ASSETS = LIABILITIES + STOCKHOLDERS' EQUITY
Date Cash Accounts Receivable Equipment Accounts Payable Notes Payable Capital Stock Dividends Revenue Expenses

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students