Reference no: EM132945994

Wiley Hill opened Hill's Repairs on March 1 of the current year. During March, the following transactions occurred:

1. Wiley invested $28,000 cash in the business.
2. Wiley contributed $103,000 of equipment to the business.
3. The company paid $2,300 cash to rent office space for the month of March.
4. The company received $19,000 cash for repair services provided during March.
5. The company paid $6,500 for salaries for the month of March.
6. The company provided $3,300 of services to customers on account.
7. The company paid cash of $800 for utilities for the month of March.
8. The company received $3,400 cash in advance from a customer for repair services to be provided in April.
9. Wiley withdrew $5,300 for his personal use from the company.

Problem 1: Based on this information, the balance in Wiley Hill, Capital reported on the Statement of Owner's Equity at the end of March would be:

Multiple Choice

a. $141,800.

b. $138,400.

c. $132,800.

d. $8,100.

e. $16,500.