INCOME STATEMENT
PARTICULAR | DETAILS | $ |
REVENUE | ||
Maintenance Services revenue | 8,900 | |
Total Revenue | 8,900 | |
EXPENSES | ||
Office rent expense | 1,500 | |
Office supplies | 1,130 | |
Salary to assistant | 1,500 | |
Utility bill | 530 | |
Total expenses | 4,660 | |
NET INCOME BEFORE TAX | 4,240 |
OWNER'S EQUITY
PARTICULAR | $ |
OWNER'S EQUITY | |
Sanyu Sony | 66,300 |
S. Sony, Capital, December 31 | 66,300 |
BALANCE SHEET
ASSETS | $ | LIABILITIES | $ |
Cash | 60,760 | Creditor (electrical equipment) | 8,200 |
Electrical Equipment | 14,800 | Creditor (office supplies) | 430 |
Office Equipment | 2,690 | ||
EQUITY | |||
Sanyu Sony | 66,300 | ||
Withdrawals | -920 | ||
Net profit | 4,240 | ||
Total Equity | 69,620 | ||
78250 | 78,250 |
CASH FLOW STATEMENT
PARTICULAR | DETAILS | $ |
CASH FLOW FROM OPERATING ACTIVITIES | ||
Net Earnings | 4,240 | |
Additions to Cash | ||
Increase in account payables | 8,630 | |
Subtractions from Cash | ||
Increase in Inventory | 0 | |
Net Cash used in operating activities | 12,870 | |
CASH FLOW FROM INVESTING ACTIVITIES | ||
Office equipment | -2,690 | |
Electrical equipment | -14,800 | |
Net cash used in investing activities | -17,490 | |
CASH FLOW FROM FINANCING ACTIVITIES | ||
Capital infusion | 66,300 | |
Withdrawals | -920 | |
Net cash flow from financing activities | 65,380 | |
NET INCREASE IN CASH & CASH EQUIVALENTS | 60,760 | |
Opening balance of C & C equivalents | 0 | |
CLOSING BALANCE OF C & C EQUIVALENTS | 60,760 |
Check my wor Required information The following information applies to the questions displayed below.] Sanyu Sony...
sanyu Sony transferred 67100 Check my 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 $67,100 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 $1,800 cash for the December rent. 3 The company purchased $14,600 of electrical equipment by...
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...
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 $64,800 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 $1,200 cash for the December rent. 3 The company purchased $13,700 of electrical equipment by paying $5,500 cash and agreeing to...
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...
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 $68,100 cash from a personal savings account to a checking account in the name of Sony Electric. 2 The company rented office space and paid $1,000 cash for the December rent. 3 The company purchased $14,300 of electrical equipment by paying $6,100 cash and agreeing to pay the $8,200 balance in 30 days. 5...
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 $68,100 cash from a personal savings account to a checking account in the name of Sony Electric. 2 The company rented office space and paid $1,000 cash for the December rent. 3 The company purchased $14,300 of electrical equipment by paying $6,100 cash and agreeing to pay the $8,200 balance in 30 days. 5...
It says answer is not completed. What am I missing ? 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 $65,000 cash from a personal savings account to a checking account in the name of Sony Electric. 2 The company rented office space and paid $1,000 cash for the December rent. 3 The company purchased $13,000 of electrical equipment by paying...
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 $68,900 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 $1,400 cash for the December rent. 3 The company purchased $13,400 of electrical equipment by paying $5,200 cash and agreeing to...
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 $69,400 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. 2 company rented office space and paid $1,700 cash for the December rent. ne company purchased $14,700 of electrical equipment by paying $6,500 cash and agreeing to pay the...
! Required information Problem 1-9A Analyzing transactions and preparing financial statements LO C4, P1, P2 [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 $65,000 cash from a personal savings account to a checking account in the name of Sony Electric. 2 The company rented office space and paid $1,000 cash for the December rent. 3. The company purchased $13,000 of electrical equipment...