Question

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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 $68,300 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 $1,700 cash for the December rent. 3 The company purchased $15,000 of electrical equipment by paying $6,800 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 $1,100 cash for these services. 8 The company purchased $2,800 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $5,700. 18 The company purchased $340 of office supplies on credit. The company paid $2,800 cash for the office equipment purchased on December 8. 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. 28 The company received $5,700 cash for the work completed on December 15. 29 The company paid the assistant's salary of $2,000 cash for this month. 30 The company paid $560 cash for this month's utility bill. 31 The company paid $990 cash in dividends to the owner (sole shareholder) Required: 2. Enter the amount of each transaction on individual items of the accounting equation. (Enter reductions to accounting balances with a minus sign.)

Answer 1

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Due to character limit I am attaching the image of my solution 1) G H Sanyu Sony F Assets Office Supplies Date Cash Accounts Receivable Office Equipment Electrical Equipment + + LM NO PQ RS Liabilities Stockholder's Equity Accounts Common Dividends + Revenues Expenses Payable Stock 68,300.00 1,700.00 68,300.00 1,700.00 8,200.00 + 8,200.00 + 68,300.00 1,700.00 + + + + + - + - + + + + | 68,300.00 + (1,700.00) 66,600.00 (6,800.00) 59,800.00 + (900.00) + 58,900.00 1,100.00 60,000.00 + + 15,000.00 15,000.00 = = + + + + + 900.00 900.00 + + - + 15,000.00 = 8,200.00 + 68,300.00 - + 1,700.00 + + + 900.00 + 15,000.00 = 1,100.00 1,100.00 - 68,300.00 - 1,700.00 - 2,800.00 2,800.00 + + + 8,200.00 + 2,800.00 + 11,000.00 + + 60,000.00 900.00 + 15,000.00 = + 68,300.00 - 1,700.00 1,100.00 - 5,700.00 6,800.00 - 5,700.00 5,700.00 + 60,000.00 + 2,800.00 + 15,000.00 = 68.300.00 | - | + 1,700.00 + Dec. 1 Dec. 2 Balance Dec. 3 Balance Dec. 5 Balance Dec. 6 Balance Dec. 8 Balance Dec. 15 Balance Dec. 18 Balance Dec. 20 Balance Dec. 24 Balance Dec. 28 Balance Dec. 29 Balance Dec. 30 Balance Dec. 31 Balance 900.00 340.00 1,240.00 + + + + + + 5,700.00 2,800.00 + + 15,000.00 = 11,000.00 + 340.00 + 11,340.00 + (2,800.00) + 8,540.00 + 6,800.00 - 68,300.00 - 1,700.00 60,000.00 (2,800.00) 57,200.00 + + + + + 1,240.00 2,800.00 + 15,000.00 = 68,300.00 + 1,700.00 + 5,700.00 900.00 6,600.00 + (5,700.00) + 900.00 + 6,800.00 - 900.00 7,700.00 1,240.00 + 2,800.00 + 15,000.00 = 8.540.00 + 68,300.00 1,700.00 + 1,240.00 + 2,800.00 + 15,000.00 = 8,540.00 + 68,300.00 - + 7,700.00 + 57,200.00 5,700.00 + 62,900.00 + (2,000.00) + | 60,900.00 + (560.00) 60,340.00 (990.00) + 59,350.00 + 900.00 1,240.00 2,800.00 + 15,000.00 8,540.00 68,300.00 7,700.00 1,700.00 2,000.00 3,700.00 560.00 4,260.00 900.00 + 1,240.00 + 2,800.00 + 15,000.00 = 8,540.00 + 68,300.00 - 7,700.00 - 990.00 990.00 + 900.00 1,240.00 + 1 2,800.00 + 15,000.00 8,540.00 + 68,300.00 7,700.00 4,260.00 .