PART A:

A$)$ Account for and input into the Accounting Equation worksheet below the following $7$ transactions $($use $1$ row for each transaction$)$ Enter amounts only in the shade areas. Make sure your Assets $=$ Liabilities $+$ Equity.

Transactions:

$1$ NapCo invested $$25,000$ in the business in exchange for common stock

$2$ NapCo purchased equipment costing $$10,000$ by borrowing from the bank

$3$ NapCo sold $$100,000$ worth of consulting services on account

$4$ NapCo paid Wages of $$50,000$ and Rent of $$25,000$

$5$ Napco purchased $$2,000$ of supplies on account

$6$ Napco collected $$75,000$ from customers sold to on account $($#$3$ above$)$

$7$ Napco paid the bank $50\%$ of what they owed them

Accounting Equation

$\backslash$table$[[,,,,,,,,,,],[,,,,$ASSETS,$=,$LIABILITIES,,$+,$EQUITY,$],[$Transaction#$,,,$Accounts,,,Accounts,Notes,,Common,Retained$],[$Cash$,$Equipment,Receivable,Supplies,,Payable,Payable,,Stock,Earnings$],[1],[,,,,,,,,,,],[3],[4],[5],[6],[7],[,,,,,,,,,,],[,------------,------------,------------,------------,,--------------,-------------,,-.---------,------------],[$TOTALS$,$$$0,$$$0,$$$0,$$$0,,$$$0,$$$0,,$$$0,$$$0$