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
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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