Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lars Linken opened Monty Cleaners on March 1, 2020. During March, the following transactions were completed. Mar. Owner invested $13,800 castin the company. 1 Borrowed

image text in transcribed
image text in transcribed
image text in transcribed
Lars Linken opened Monty Cleaners on March 1, 2020. During March, the following transactions were completed. Mar. Owner invested $13,800 castin the company. 1 Borrowed $5.400 cash by signing a 6 -month. 6%,$5.400 note payable. Interest will be paid the first day of each subsequent month 1 Purchased used truck for $7,400 cash. 2. Pald 51.500 cash to cower rent from March 1 through May 31 3 Pald $2100 castiona 6 -month insurance policy effective March 1. 6. Purchased cletaring supplies for $1840 on account 14. Billedcustomers 33,400 for cleaning services performed; subsequent month. 1 Purchased used truck for $7,400 cash. 2. Paid $1,500 cash to cover rent from March 1 through May 31. 3 Paid \$2,100 cashona 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $1,840 on account. 14 Blledicustomers $3.400 for cleaning servicesperformed. 18 Paid $460 on amount owed on cleaning supplies. 20 Paid \$1,610 cash for employee salaries 21. Collected $1,470 cash from customers billed on March 14. 26 Buled customers $3860 for cleaning services performed. 31. Pald \$320 for Bas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Owher withdrew $830 cash from the company. MONTY CLEANERS Owner's Capital Statement $ Lars Linken opened Monty Cleaners on March 1, 2020. During March, the following transactions were completed. Mar. Owner invested $13,800 castin the company. 1 Borrowed $5.400 cash by signing a 6 -month. 6%,$5.400 note payable. Interest will be paid the first day of each subsequent month 1 Purchased used truck for $7,400 cash. 2. Pald 51.500 cash to cower rent from March 1 through May 31 3 Pald $2100 castiona 6 -month insurance policy effective March 1. 6. Purchased cletaring supplies for $1840 on account 14. Billedcustomers 33,400 for cleaning services performed; subsequent month. 1 Purchased used truck for $7,400 cash. 2. Paid $1,500 cash to cover rent from March 1 through May 31. 3 Paid \$2,100 cashona 6-month insurance policy effective March 1. 6 Purchased cleaning supplies for $1,840 on account. 14 Blledicustomers $3.400 for cleaning servicesperformed. 18 Paid $460 on amount owed on cleaning supplies. 20 Paid \$1,610 cash for employee salaries 21. Collected $1,470 cash from customers billed on March 14. 26 Buled customers $3860 for cleaning services performed. 31. Pald \$320 for Bas and oil used in truck during month (use Maintenance and Repairs Expense). 31 Owher withdrew $830 cash from the company. MONTY CLEANERS Owner's Capital Statement $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions