Question

Check my work Required information [The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. Dec. 1 Sanyu Sony transferred $64,300 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. 2 The company rented office space and paid $1,100 cash for the December rent. 3 The company purchased $13,900 of electrical equipment by paying $5,700 cash and agreeing to pay the $8,200 balance in 30 days. 5 The company purchased office supplies by paying $900 cash. 6 The company completed electrical work and immediately collected $1,300 cash for these services. 8 The company purchased $2,500 of office equipment on credit. 15 The company completed electrica electrical work on credit in the amount of $5,500. 18 The company purchased $470 of office supplies on credit. 20 The company paid $2,500 cash for the office equipment purchased on December 8. 24 The company billed a client $800 for electrical work completed; the balance is due in 30 days. 28 The company received $5,500 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,700 cash for this month. 30 The company paid $580 cash for this month's utility bill. 31 The company paid $930 cash in dividends to the owner (sole shareholder). ces Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter reductions to accounting balances with a minus sign.)

Answer 1

+ + + + + + + + + + + + | + + + + + + + + + + + + + + Date Cash + Accounts Receivable + Office supplies + Office Equipment + Electrical Equipment = Accounts payable + Common Stock - Dividend + Revenues - Expenses Dec-01 $64,300 64,300 Dec-02 $ -1,100 - $ 1,100 Bal $63,200 + $ - + $ - + $ - + $ - = $ . + $ 64,300 - $ - + $ . - $ 1,100 Dec-03 $ -5.700 + + + + $ 13.900 = $ 8.200 + - + Bal $57,500 + $ 13,900 = 8,200 + 64,300 - $ . + $ - - $ 1,100 Dec-05 $ -900 + 900 + Bal $56,600 + $ 900 + $ - + $ 13,900 = $ 8.200 + $ 64,300 - $ - + $ - - $ 1,100 Dec-06 $ -1,300 + - + - $ 1,300 Bal $ 55,300 900 + $ - + $ 13,900 = $ 8,200 + $ 64,300 - $ - + $ . - $ 2,400 Dec-08 + + 2,500 + = $ 2,500 + Bal $55,300 + $ - + $ 900 + $ 2,500 + $ 13,900 = $ 10,700 + $ 64,300 - $ - + $ - - $ 2,400 Dec-15 + $ 5,500 + + $ 5,500 Bal $55,300 + $ 5,500 + $ 900 + $ 2.500 + $ 13,900 = $ 10.700 + $ 64,300 - $ . + $ 5,500 - $ 2.400 Dec-18 + + $ 470 + 470 + 1. + Bal $55,300 5,500 + $ 1,370 + $ 2,500 1+ $ 13,900 11,170 + | $ 64,300 - $ - + $ 5,500 - $ 2,400 Dec-20 $ -2,500 = $ -2.500 + Bal $52,800 + $ 5,500 + $ 1,370 + $ 2,500 + $ 13,900 = $ 8,670 + $ 64,300 - $ - + $ 5,500 - $ 2,400 Dec-24 800 + + $ 800 Bal $52,800 6,300 + $ 1,370 + $ 2,500 + $ 13,900 = $ 8,670 + $ 64,300 - $ + $ 6,300 - $ 2,400 Dec-28 $ 5,500 + $ -5,500 + Bal $ 58,300 + $ 800 + $ 1,370 + $ 2,500 + $ 13,900 = $ 8,670 + $ 64,300 - $ - + $ 6,300 - $ 2,400 Dec-30 $ -580 + + - $ 580 Bal $ 57,720 + $ 800 + $ 1,370 + $ 2.500 + $ 13,900 = $ 8,670 + $ 64,300 - $ - + $ 6,300 - $ 2.980 Dec-31 $ -930 + + - $ 930 + Bal $56,790 + $ 800 + $ 1.370 + $ 2,500 + $ 13,900 = $ 8,670 + S 64,300 - $ 930 + $ 6,300 - $ 2,980 + IN L + Its + + + $ + + + +