Question: Trying to get the correct answer Problem 3-2A (Part Level Submission) Nona Curry started her own consulting firm, Tamarisk, Inc., on May 1, 2017. The
Problem 3-2A (Part Level Submission) Nona Curry started her own consulting firm, Tamarisk, Inc., on May 1, 2017. The following transactions occurred during the month of May. May 1 Stockholders invested $18,675 cash in the business in exchange for common stock. 2 Paid $747 for office rent for the month. 3 Purchased $622 of supplies on account. 5 Paid $187 to advertise in the County News. 9 Received $1,743 cash for services performed. 12 Paid $249 cash dividend. 15 Performed $5,229 of services on account. 17 Paid $3,112 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,494 for services performed on account on May 1s 26 Borrowed $6,225 from the bank on a note payable. 29 Purchased office equipment for $2,490 paying $249 in cash and the balance on account. 30 Paid $224 for utilities. Show the effects of the above transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the y Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was TAMARISK, INC. ent Notes Payable Date May 1 18675
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