The following transactions occurred during March, the first month of operations for Sangamon, Incorporated: Capital stock was issued in exchange for $353,000 cash. Purchased $166,000 of equipment by making a $53,000 cash down payment and signing a note payable for the balance. Made a $31,500 cash payment on the note payable from the purchase of equipment. Returned a piece of defective equipment for cash of $11,000. What is the balance in the Cash account at the end of March? Multiple Choice $332, 500 $364,000 $311,000

Line following information applies to the questions displayed below.j The following transactions apply to Park Company for Year 1: 1. Received $31,000 cash from the issue of common stock. 2. Purchased inventory on account for $143,000. 3. Sold inventory for $172,500 cash that had cost $105,500. Sales tax was collected at the rate of 8 percent on the inventory sold. 4. Borrowed $24,000 from First State Bank on March 1, Year 1. The note had a 8 percent interest rate and a one-year term to maturity. 5. Paid the accounts payable (see transaction 2). 6. Paid the sales tax due on $153,500 of sales. Sales tax on the other $19,000 is not due until after the end of the year. 7. Salaries for the year for one employee amounted to $28,000. Assume the Social Security tax rate is 6 percent and the Medicare tax rate is 1.5 percent. Federal income tax withheld was $5,300. 8. Paid $2,600 for warranty repairs during the year. 9. Paid $12,000 of other operating expenses during the year. 10. Paid a…

The following are the transactions relating to the formation of Gray Mowing Services Inc. and its first month of operations. a. The firm was organized and the initial stockholders invested cash of $720. b. The company borrowed $1,080 from a relative of one of the initial stockholders; a short-term note was signed. c. Two zero-turn lawn mowers costing $576 each and a professional trimmer costing $156 were purchased for cash. The original list price of each mower was $732, but a discount was received because the seller was having a sale. d. Gasoline, oil, and several packages of trash bags were purchased for cash of $108. e. Advertising flyers announcing the formation of the business and a newspaper ad were purchased. The cost of these items, $204, will be paid in 30 days. f. During the first two weeks of operations, 47 lawns were mowed. The total revenue for this work was $846; $558 was collected in cash, and the balance will be received within 30 days. g. Employees were paid $504 for…

On June 30, Year 3, Rundle Company's total current assets were $501,000 and its total current liabilities were $274,000. On July 1, Year 3, Rundle issued a short-term note to a bank for $39,400 cash. Required a. Compute Rundle's working capital before and after issuing the note. b. Compute Rundle's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the After the transaction transaction a. Working capital b. Current ratio MacBook Air 80 DII DD F2 F3 F4 F5 F6 F7 F8 F9 F10 23 2$ & * 3 4 6. 7 E R Y D F G H J K この * CO