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accounting. prepare a trial balance. will rate good Below are the transactlons for Backstitch Sewing Shop for March, the first month of operations. March 1
accounting. prepare a trial balance. will rate good
Below are the transactlons for Backstitch Sewing Shop for March, the first month of operations. March 1 issue conon stock in ekchange for cash of 52,500 . Yarch 3 Puechase seving eculpment by signing a note with the local bank, $2,200. rarch's Pay rent of 3550 for March. Marci 7 Marths, a cistomer. Places an order for alterations to several dresses. Backstitch estinates that the alterations will cost 1artha s7se. Marths is not required to pay for the alterations until the work is chaplete. Harch 12 purctase Mecing sopplies for $125 on sccount. This naterial will be wet to provide services to custumers. March 15 backstitch delivers. altered dresses to Martha and receives \$75a. March 19 backstitch sgrees to alter 10 business suits fon bob, who has lost a signiffeant anount of weight recently. Eackititeh recisves 5650 frim bob and prenisns the solts to be copleted by March 25 . March 25 neckstiteh delivers 10 altered business sults to eob. March Me Pay utiltilies of 310 for the current periced. llarch in Pay aividends of $125 to stockbldera. Required: 1. Record coch fransaction 2.8.3. Post each wankaction to the opprosisate reaccounts and calculate the batance of each accolint at March 31 . 4. Prepare a tuat balance as of March ah. Complete this question by entering yoar answers in the tabs below: Prnosin a tisal balance as of March af. Prepare a trial balance as of March 31 Step by Step Solution
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