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Saved Help Save & Exit Submit 6 Benjamin Stone opened Stone's Repairs on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books: 1.75 points 00-5152 1. Benjamin, the sole stockholder, invested $25,000 cash in the business in exchange for common stock 2. Benjamin contributed $100,000 of equipment to the business in exchange for common stock 3. The company paid $2,000 cash to rent office space for the month of March 4. The company received $16,000 cash for repair services provided during March 5. The company paid $6,200 for salaries for the month of March 6. The company provided $3,000 of services to customers on account 7. The company paid cash of $500 for utilities for the month of March 8. The company received $3,100 cash in advance from a customer for repair services to be provided in April 9. The company paid Benjamin $5,000 cash as a dividend Based on this information, total stockholder's equity reported on the balance sheet at the end of March would be: 24 On May 31, the Cash account of Bottle's R US had a normal balance of $5,000. During May, the Cash account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginning of May? 1.75 points Multiple Choice 00:51:08 O A $5,700 debit balance. A $5,700 credit balance. A $4,300 credit balance. If a company purchases equipment costing $5,700 on credit, the effect on the accounting equation would be: 28 Multiple Choice 1.75 points 00:50:49 Equity increases $5.700 and liabilities decrease $5,700. Equity decreases $5.700 and liabilities increase $5,700. Liabilities decrease $5,700 and assets increase $5,700