Bearcat Construction begins operations in March and has the following transactions. March 1: Issue common stock for $15 , 000.
March 5: Obtain $7 , 800 loan from the bank by signing a note.
March 10: Purchase construction equipment for $19 , 000 cash.
March 15 Purchase advertising for the current month for $1, 000 cash.
March 22 Provide construction services for $16 , 800 on account.
March 27 Receive $11, 800 cash on account from March 22 services .
March 28 Pay salaries for the current month of $4, 800.

Required:
Record each transaction.

Mar 1    Cash                         15000 Dr

                  Common Stock       15000 Cr

Mar 5   Cash                          7800 Dr

                Note Payable               7800 Cr

Mar 10  Equipment Account                 19000 Dr

                     Cash                                      19000 Cr

Mar 15  Advertising expense                       1000 Dr

                      Cash                                             1000 Cr

Mar 22  Accounts Receivables                   16800 Dr

                    Service Revenue                           16800 Cr

Mar 27  Cash                                11800 Dr

                 Accounts Receivable      11800 Cr

Mar 28  Salaries Expense                   4800 Dr

                    Cash                                      4800 Cr

Explanation:

Mar 1 The issuance of common stock will bring in cash so cash account will be debited and common stock, which is capital, will be credited.

Mar 5 The notes signed is a liability and will be credited as liability increases and the cash received will be debited.

Mar 10 The purchase of equipment against cash is an increase in equipment which is an asset so it will be debited and cash will be credited

Mar 15 The advertising is an expense and as it is increasing it will be debited and cash will be credited.

Mar 22 The provision of services on account will increase accounts receivable and service revenue. The revenue will be credited and receivables, which are asset will be debited.

Mar 27 The receipt of cash against receivables will be debited as cash increases and credited in receivables account.

Mar 28 The payment of salaries is an expense.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; offer in store wine and beer samples;