Analyze transaction and compute net income: 1. Invested $15, 000 cash to start t

ID: 2379336 • Letter: A

Question

Analyze transaction and compute net income:

1. Invested $15, 000 cash to start the agency.

2. Paid $600 cash for April office rent.

3. Purchased equipment for $3, 000 cash

4. Incurred $700 of advertising cost in the Chicago Tribune, on account

5. Paid $800 cash for office supplies

6. Performed services worth $10, 000: $3, 000 cash is received from customers, and the balance of $7, 000 is billed to customers on account

7. Withdrew $500 cash for personal use

8. Paid Chicago Tribune $500 of the amount due in transaction (4)

9. Paid employees salaries $2, 500

10. Received $4, 000 in cash from customers who have previously been billed in transaction (6)

My figures are not adding up can anyone help with this.

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