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problem: Fieldstone, Inc. had following transactions during the month of March, the 1st month of operations for the business:

The corporation issued 12,000 shares of capital stock to Sandy Fieldstone in exchange for $120,000 cash.

Purchased $73,000 of equipment; made $18,000 down payment & signed a note payable for balance.

Made payment of $9,000 on the amount owed for equipment

[1] find out the balance in the Cash account at the end of March.

[2] find out the total assets of Fieldstone, Inc. at the end of March?

[3] find out the balance in the Notes Payable account at the end of March.

[4] Determine the total amount of owners' equity at the end of March?

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M922736

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