Question

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 company purchased office supplies by paying $700 cash. 6 The company completed electrical work and immediately collected $1,200 cash for these services. 8 The company purchased $2,530 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $4,500 18 The company purchased $400 of office supplies on credit. 20 The company paid $2,530 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 $4,500 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 $550 cash for this month's utility bill. 31 Sanyu Sony withdrew $940 cash from the company for personal use.

Answer 1

Income statement

Notes:Electrical fees earned =1200+900+4500=$6600

Statement of owners equity

Cash flow statement

Balance sheet

Notes:account receivable =8200+400=$8600