Below are the transactions for Ute Sewing Shop for March, the first month of operations.
March 1 Issue common stock in exchange for cash of $2,000.
March 3 Purchase sewing equipment by signing a note with the local bank, $1,700.
March 5 Pay rent of $500 for March.
March 7 Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $700. Martha is not required to pay for the alterations until the work is complete.
March 12 Purchase sewing supplies for $120 on account. This material will be used to provide services to customers.
March 15 Martha receives altered dresses and pays $700 to Ute.
March 19 Bob needs 100 pairs of overalls expanded as he purchased too many small and medium sizes. He pays $600 to Ute for services and expects the overalls to be completed by
March 25. March 25 Bob receives his completed overalls.
March 30 Pay utilities of $85 for the current period.
March 31 Pay dividends of $100 to stockholders.
1. Record each transaction.
2. Post each transaction to the appropriate T-accounts.
3. Calculate the balance of each account at March 31.
4. Prepare a trial balance as of March 31.
Ute uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Unearned Revenue, Notes Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utilities Expense.
Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company’s co...Jun 24 2020
To create the shopping Alfred's Department Store has a staff of interior designers who rearrange product displays, select new music to play throughout the store and adjus...May 04 2020
hich of the folloing is NOT an ethical practice in providing references or riting letter of recommendation?a. State the nature of your relationship ith the applicantb. ...Jan 24 2020
What might this case mean for a business firm that enters into a settlement agreement that contains a confidentiality clause?Aug 18 2021
Describe fraud and its impact; evaluate internal controls) Finnish Imports is an importer of silver, brass, and furniture items from Finland. Lois Ferguson is the general...May 06 2020
Mode Design Inc., a high-fashion women's dress manufacturer, is planning to market a new cocktail dress for the coming season. La Mode Design supplies retailers in Toront...Dec 05 2019
The analog signal x(t)= 10 sin(2πt)+10 sin(8πt)+5 sin(12πt), where t is in seconds, is sampled at a rate of fs = 5 Hz. Determine the signal xa(t) aliased with x(t). Show...Aug 07 2020
Match each term with the best description.________ appa. A program or app that provides a scheduling, communication, and document sharing platform for students and teache...Jun 20 2021
Classify each of the following compounds as (1) an amine, (2) an amide, or (3) both an amine and an amide.Jun 17 2021
Match each term with the most suitable description.fitnessa. does not affect fitnessfossilsb. geological change occurs continuouslynatural selectionc. geological change o...Jun 29 2021