At the beginning of March, Crane Software Company had Cash of $11,975, Accounts Receivable of $18,157, Accounts Payable of $3,841, and G. Crane, Capital of $26,291. During the month of March, the...


At the beginning of March, Crane Software Company had Cash of $11,975, Accounts Receivable of $18,157, Accounts Payable of $3,841, and G. Crane, Capital of $26,291. During the month of March, the following transactions occurred.


1.Purchased equipment for $22,911 from Digital Equipment. Paid $2,111 cash and signed a note payable for the balance.


2. Received $11,913 from customers for contracts billed in February.


3. Paid $2,856 for March rent of office space.


4. Paid $2,630 of the amounts owing to suppliers at the beginning of March.


5. Provided software services to Kwon Construction Company for $6,524 cash.


6. Paid BC Hydro $1,008 for energy used in March.


7. G. Crane withdrew $4,984 cash from the business.


8. Paid Digital Equipment $2,184 on account of the note payable issued for the equipment purchased in transaction 1. Of this, $104 was for interest expense.


9. Hired an employee to start working in April.


10. Incurred advertising expense on account for March, $1,377.








Jan 16, 2021
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