Parrish 2-2 Pg 32 Please solve the following.  Put the following transactions in either the Asset, Liability or RE category 1) Tracy wrote check from personal account for her business of $400 to begin business 2) Bought a computer.  Company paid $400 down and agreed to pay the remaining $1000 balance in 30 days 3) Bought $2000 cash for equipment 4) Obtained loan for $5000 must repay loan plus 5% interest in 6 months 5) Bought t-shirts for $1000 and agreed to pay balance in 30 days 6) Bought supplies for $300 cash 7) Sold Shirts to walk in customers for $500 cash 8) Received first big order  Kwane Jackson ordered $1200 worth of shirts.  Jackson paid $400 when he picked up the shirts. and will pay the remaining $8000in 30 days 9) She paid rent for $700 10) Paid phone bill in $2000 11) Paid employs $500. 12) Tracy had an unpaid electric bill at end of month $100

Question

Parrish 2-2 Pg 32

Please solve the following.  Put the following transactions in either the Asset, Liability or RE category

1) Tracy wrote check from personal account for her business of $400 to begin business

2) Bought a computer.  Company paid $400 down and agreed to pay the remaining $1000 balance in 30 days

3) Bought $2000 cash for equipment

4) Obtained loan for $5000 must repay loan plus 5% interest in 6 months

5) Bought t-shirts for $1000 and agreed to pay balance in 30 days

6) Bought supplies for $300 cash

7) Sold Shirts to walk in customers for $500 cash

8) Received first big order  Kwane Jackson ordered $1200 worth of shirts.  Jackson paid $400 when he picked up the shirts. and will pay the remaining $8000in 30 days

9) She paid rent for $700

10) Paid phone bill in $2000

11) Paid employs $500.

12) Tracy had an unpaid electric bill at end of month $100

 

 

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