Question: 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] Calculate the balance in the Cash account at the end of March.
[2] Calculate the total assets of Fieldstone, Inc. at the end of March?
[3] Calculate 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?