D.C. Dawg started a business, Cats and Dogs Company, by contributing $6,000.
The Cats and Dogs Company borrowed $2,000 from the bank on March 1. The note is a 1-year, 12% note, with both principal and interest to be repaid on February 28 of next year.
The company earned $900 in revenue.
Expenses amounted to $650.
Distributions to owners amounted to $25.
You are to complete the following tasks:
Show how each affects the accounting equation.
Give one additional piece of information related to the transaction that could be recorded in an information system for a purpose other than the financial statements.
Prepare the four basic financial statements for the month of March.
Please see the attached file.
1 Sheet 1-Analysis: It covers complete analysis of transaction in a work spreadsheet form showing how each ...