PARRISH 2-3 Pg. 33 1) Please but the following transaction in the appropriate A=L+SE category. 2) State wether they are DR or CR 3) Tell me Net Income and how you arrived at that amount. 1) Shareholders invested $5000 cash to begin business 2) Copymaster bought a copying machine for $1500 3) Copymaster sold copies to customers for $500 cash 4) Copymaster produced copies for Fellowship Corporation, its customer.  The total sale amount was $1200 5) Copymaster paid employees $600 6) Copymaster bought supplies for $300 7) Copymaster paid rent of $700 8) Copymaster paid utilities of $200 9) Copymaster bought furniture for $500 10) Copymaster had an unpaid balance at the month-end for $100 **Calculate Total Assets, Liabilities and Equity and the Net Income

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements
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Problem 4QY: R. Nelson invests his personal computer, with a fair market value of 2,500, in the business. How...
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PARRISH 2-3 Pg. 33

1) Please but the following transaction in the appropriate A=L+SE category.

2) State wether they are DR or CR

3) Tell me Net Income and how you arrived at that amount.

1) Shareholders invested $5000 cash to begin business

2) Copymaster bought a copying machine for $1500

3) Copymaster sold copies to customers for $500 cash

4) Copymaster produced copies for Fellowship Corporation, its customer.  The total sale amount was $1200

5) Copymaster paid employees $600

6) Copymaster bought supplies for $300

7) Copymaster paid rent of $700

8) Copymaster paid utilities of $200

9) Copymaster bought furniture for $500

10) Copymaster had an unpaid balance at the month-end for $100

**Calculate Total Assets, Liabilities and Equity and the Net Income

 

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