Bearcat Construction begins operations in March and has the following transactions.
March 1 Issue common stock for $21,000.
March 5 Obtain $9,000 loan from the bank by signing a note.
March 10 Purchase construction equipment for $25,000 cash.
March 15 Purchase advertising for the current month for $1,100 cash.
March 22 Provide construction services for $18,000 on account.
March 27 Receive $13,000 cash on account from March 22 services.
March 28 Pay salaries for the current month of $6,000.
Required:
1. Record each transaction. Bearcat uses the following accounts: Cash, Accounts Receivable, Equipment, Notes Payable, Common Stock, Service Revenue, Advertising Expense, and Salaries Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Bearcat Construction begins operations in March and has the following transactions. March 1 Issue common stock for $21,000. March 5 Obtain ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Statement of Cash Flows W. C. Cycling had $55,000 in cash at year-end 2013 and $25,000 in cash at year-end 2014. The firm invested in property, plant, and equipment totaling $250,000. Cash flow from financing activities totaled + $170,000. 1.
Answers (1)
Kasey Corp. has a bond outstanding with a coupon rate of 5.64 percent and semiannual payments. The bond has a yield to maturity of 6.1 percent, a par value of $2,000, and matures in 15 years. What is the quoted price of the bond
Answers (1)
Which factor of production includes human-made resources used to produce a good or a service? A. land B. labor C. capital D. entrepreneurship
Answers (2)
Determine if the following statements are true or false. An increase in government spending can crowd out private investment. An improvement in the budget balance increases the demand for financial capital.
Answers (1)
For some racquet sports, there have been increases in the size of the racquets; also, the methods and materials used for making racquets have improved. To which problem in the construction of the CPI is this situation most relevant? a.
Answers (1)
New Questions in Business
At January 31, the end of the first month of the year, the usual adjusting entry transferring expired insurance to an expense account is omitted.
Answers (1)
Two part-time employees share one full-time job. A girl works Mondays comma Thursdays , Wednesdays, and Fridays, and a boy works Tuesdays. The job pays an annual salary of $28 comma 602. What annual salary does each employee earn?
Answers (1)
A piece of property bought by XYZ Corporation a few years ago was sold for $5 M. The cost basis for this property was $2.75 M. The company had a taxable income of $12.15 million in the year the property was sold.
Answers (1)
What must be marked on ready-to-eat bags (PHFs): Best before date Temperature to reheat Name of the food Shelf to store the food on
Answers (2)
In which of the following cases will the effect on equilibrium output be indeterminate (i. e., depend on the magnitudes of the shifts in supply and demand) ? a. Demand increases and supply increases b. Demand decreases and supply decreases c.
Answers (1)