5.Seaside Company completed the following transactions during, March, its first month of operations:
1. Owners invested $100,000 cash in the business.
2. $3,200 was paid for one month's office rent.
3. Equipment was purchased by signing a $120,000 note.
4. Services were performed for customers for $10,000 cash.
5. Goods were sold to customers for $14,000 cash.
6. Paid $4,000 on the note signed in transaction #3.
After these transactions, what is the total amount of:
6.Marine Stock Company began business on September 1. Transactions for the first month of business were as follows:
Sept 1:Tony and Ken each contributed $5,400 to the firm.
Sept 5:Equipment costing $4,320 was purchased with cash.
Sept 12:Inventory costing $1,440 was acquired for cash.
Sept 21:Supplies having a cost of $585 were purchased for cash.
Sept 25:The entire inventory was sold to a customer for $3,780 cash.
Sept 30:The last of the supplies were used up.
Answer the following questions as of the close of business on September 30:
b.Total expenses for the month of September
c.Cost of sales for September
e.Total owners' equity