A201 PDF Homework Ch 2 FY 2023 Problem 4 Below are the account balances of Bruins Company at the end of November, Prepare a trial balance and determine the balance in the Equipment account. Account Balance Account Balance Cash $40,000 Common Stock $ 50,000 Accounts Receivable 50,000 Retained Earnings 35,000 Supplies 1,100 Dividends 1,100 Prepaid Rent 3,000 Service Revenue 65,000 Equipment Salaries Expense 30,000 Account Payable 17,000 Rent Expense 12,000 Salaries Payable 5,000 Interest Expense 3,000 Interest Payable 3,000 Supplies Expense 7,000 Deferred Revenue 9,000 Utilities Expense 5,000 Notes Payable 30,000 Problem 5 Below are the transactions for Ute Sewing Shop for March, the first month of operations. March 1 Issue common stock in exchange for cash of $3,000 March 3 Purchased sewing equipment by signing a note with the local bank, $2,700 March 5 Paid rent to $600 for March March 7 Martha, a customer, places an order for alterations on several items. Ute estimates the alterations will cost Martha $800. Martha is not required to pay until work is complete. March 12 Purchase sewing supplies for $130 on account. The material will be used to provide services to customers. March 15 Ute delivers altered items to Martha and receives $800. March 19 Ute agrees to alter 10 business suits for Bob, who has lost significant weight. Ute receives $700 from Bob and promises the suits to be complete by March 25th. March 25 Ute delivers 10 altered business suits to Bob. March 30 Paid utilities of $95 for the current period March 31 Paid dividends of $150 to stockholders. Required: 1. Record each transaction in proper form. 2. Post to T accounts 3. Calculate the balance of each T account as of March 31st. Put T accounts in proper order. 4. Prepare a trial balance as of March 31st