SeverCo Construction began operations in March and completed the following transactions during that first month of operations. March 1 SeverCo's stockholders invested $30,000 cash in the company. 2 The company purchased $25,000 in construction equipment. It paid $5,000 in cash and signed a note payable promising to pay the $20,000 over the next three years. 2 The company rented office space and paid $1,000 cash for the March rent. |6 The company bought office supplies in the amount of $750 for use over the next two months. 7 The company completed a landscaping job for a customer on credit in the amount of $7,500. |8 The company purchased a $2,500 riding lawn mower for the business on credit 9 The company completed landscaping work for additional customers in the amount of $10,000, immediately collecting cash. 15 The company paid its landscaping and administrative employees' salaries of $3,750 for the first half of the month. 17 The company installed a new pond and waterfall feature for a customer and immediately collected $3,500. |20|The company received $7,500 in payments from the customers billed on March 7. 28The company paid $1,000 on the lawn mower purchased on March 8. It will pay the remaining balance in May. 31The company paid its employees' salaries of $3,750 for the second half of the month. 31 The company paid a vendor $2,500 for landscaping supplies purchased and used during March 31 The company paid $325 cash for this month's utility bill Required: Using the Excel Template, complete the following: Show the effects of the transactions on the accounts using the accounting equation. Record increases and decreases in the appropriate columns in the table. Do not determine new account balances after each transaction. Determine the final total for each account and verify that the equation is in balance. Review the grading rubric to understand how you will be graded on this assignment. Review Module 1 Part 3 Lecture: The Accounting Equation, 4.1 (Accounting Cycle) & 4.2 (Preparing Financial Statements) for examples related to your Critical Thinking assignment for this week. Reach out to your instructor if you have questions about the assignment. SeverCo Construction STOCKHOLDERS' EQUITY ASSETS LIABILITIES Capital Accounts Accounts Notes Receivable Equipment Cash Payable Payable Stock Dividends Revenue Supplies Date Expenses $ $ $ $ Totals $ $