Parrish 2-4 Pg. 34 Using a Asset, Liability and Stockholders Equity please place the following transactions in the above columns with the amount of the transactions below and in the columns indicate if the transaction would be a Debit or Credit in the appropirate column(s)1)Tracy wrote a check out of her personal account to Tracy's T-Shirts for $3000 to begin the busines2) Tracy's T-Shirts bought a computer. The company paid $400 down and agreed to pay the remaining $1000 balance in 30 days3) Tracy's T-Shirts bought equipment for $2000 cash4) Tracy's T Shirts obtained a bank loan for $5000. The company must repay the loan plus 5% interest for 6 months5) Tracy's T Shirts bought t shs6) Tracey's TShirtsbought supplies for $300 cash7) Tracy Tshirts sold shirts to walk in customers for $5508) Tracy's Tshirts received its first big order. Kwame Jackson ordered $1200 worth of shirts forf his company's emplolyees9) Tracy's Tshirts paid $700 for rent10) Tracys Tshirts paid a ;phone bill of $20011) Tracy's Tshirts paid employees $50012) Tracys Tshirts had an unpaid electric bill at month-end for $10013) Calculate the total for assets,liabilities and equityCalculate Net Income (please show how you arrived at the answer)
Parrish 2-4 Pg. 34
Using a Asset, Liability and
1)Tracy wrote a check out of her personal account to Tracy's T-Shirts for $3000 to begin the busines
2) Tracy's T-Shirts bought a computer. The company paid $400 down and agreed to pay the remaining $1000 balance in 30 days
3) Tracy's T-Shirts bought equipment for $2000 cash
4) Tracy's T Shirts obtained a bank loan for $5000. The company must repay the loan plus 5% interest for 6 months
5) Tracy's T Shirts bought t shs
6) Tracey's TShirtsbought supplies for $300 cash
7) Tracy Tshirts sold shirts to walk in customers for $550
8) Tracy's Tshirts received its first big order. Kwame Jackson ordered $1200 worth of shirts forf his company's emplolyees
9) Tracy's Tshirts paid $700 for rent
10) Tracys Tshirts paid a ;phone bill of $200
11) Tracy's Tshirts paid employees $500
12) Tracys Tshirts had an unpaid electric bill at month-end for $100
13) Calculate the total for assets,liabilities and equity
Calculate Net Income (please show how you arrived at the answer)
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