Falcon Services Was Organized on October 1,2017

question 100

Essay

Falcon Services was organized on October 1,2017.The company received a contribution of $2,000 from each of the two principal owners.During the month,Falcon Services provided services for cash of $1,400 and services on account for $600,received $350 from customers in payment of their accounts,purchased supplies on account for $800 and equipment on account for $1,050,received a utility bill for $150 that will not be paid until November,and paid the full amount due on the equipment.
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Required
Show your work to determine the company's Cash balance on October 31,2017.

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Definitions:

Supply-Chain Members

Businesses or entities involved in the process of producing and delivering a product or service, from raw material suppliers to manufacturers to retailers and finally to end consumers.

Environmentally Friendly

Practices, products, or services that cause minimal harm to the environment and are considered beneficial for ecological sustainability.

High-Quality

Refers to products, services, or processes that meet or exceed customer expectations and industry standards.

Offset Agreements

Contracts that require a seller to invest in or provide benefits to a buyer's country as a condition of a purchase.