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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
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: Analyze each transaction and show the effects of each on the accounting equation. Note: Decreases to account classifications should be indicated by a minus sign. Assets Liabilities Stockholders' Equity March 1 II = = March 5 = = March 10 March 15 = = March 22 = = March 27 = + + + + + + + + + + + + = + March 28 = +
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