Required information The following information applies to the questions displayed below Below are the transactions for Ute Sewing Shop for March, the first month of operations March 1 Issue common stock in exchange for cash of $2,400 March 3 Purchase sewing equipment by signing a note with the local bank, $2,100 March 5 Pay rent of $540 for March March 7 Martha, a customer, places an order for alterations to several dresses Ute estimates that the alterations will cost Martha $740 Martha is not required to pay for the alterations until the work is complete March 12 Purchase sewing supplies for $124 on account This material will be used to provide services to customers March 15 Ute delivers altered dresses to Martha and receives $740 March 19 Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently Ute receives $640 from Bob and promises the suits to be completed by March 25 March 25 Ute delivers 10 altered business suits to Bob March 30 Pay utilities of $89 for the current period March 31 Pay dividends of $120 to stockholders 2 3 Post each transaction to the appropriate T accounts and calculate the balance of each account at March 31 Cash Supplies Beg Bal Beg Bal End Bal End Bal Equipment Accounts Payable Beg Bal Beg Bal End Bal End Bal Deferred Revenue Notes Payable Beg Bal Beg Bal End Bal End Bal Common Stock Dividends Beg Bal Beg Bal End Bal End Bal Service Revenue Rent Expense Beg Bal Beg Bal End Bal End Bal Utilities Expense Beg Bal End Bal

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Required information [The following information applies to the questions displayed below.] Below are the transactions for Ute Sewing Shop for March, the first month of

Required information

[The following information applies to the questions displayed below.] Below are the transactions for Ute Sewing Shop for March, the first month of operations.

March	1	Issue common stock in exchange for cash of $2,400.
March	3	Purchase sewing equipment by signing a note with the local bank, $2,100.
March	5	Pay rent of $540 for March.
March	7	Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $740. Martha is not required to pay for the alterations until the work is complete.
March	12	Purchase sewing supplies for $124 on account. This material will be used to provide services to customers.
March	15	Ute delivers altered dresses to Martha and receives $740.
March	19	Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $640 from Bob and promises the suits to be completed by March 25.
March	25	Ute delivers 10 altered business suits to Bob.
March	30	Pay utilities of $89 for the current period.
March	31	Pay dividends of $120 to stockholders.

2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at March 31.

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Cash Supplies Beg. Bal. Beg. Bal. End. Bal. End. Bal. Equipment Accounts Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Deferred Revenue Notes Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Common Stock Dividends Beg. Bal. Beg. Bal. End. Bal. End. Bal. Service Revenue Rent Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Utilities Expense Beg. Bal. End. Bal