Question

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. 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). 2.1. Prepare the income statement for the current month.

Answer 1

DIA HOTEL Analyse In the Transactions for Dec (1) Sonyla song transferred $64,300 Cash (Bant from personal savings to co. for common stock this is capital to sonya Electric. To bank Rent for office space $100 - Cash (1) - Expenses Rent purchased Electrical Equipment -$13900 O SABEN ES ) - 13900 & Cash (6) $5700 30 days credir 76 Creditor (1) - $8200 z due 2.Jan company purchase office supplies – $900 o cash (2) 1900 (6) Company completed Electic work & $1,300 Experggg Income ① cash (1) - $1300 (8) Panches office equipment- an credit to O teus asser) $2$co & creditor ↑ $2500

(1) Electrical work completed Sald - $5500 tredet Deftont 5500 @ Purches of office supplies so Creditor $470 (Expense) $ 900 20 paid for office equipment on Dec. 8 - Cash (4) - 2500 Credit (V) $2500 na Billed for electric walk to client. Sale - 28 6 Deater - 28 received con fr Dec. 15 Sale tebtor 4) = 35500 Cash (A) = 15500 (29 Assistants Salary = $1700 Expenses Cash (d) $1700 (30) Emonthly cetility bil . Expenses & $580 Cash & 4580 $930 to owner. (6D Dividends expenses - Сco9, (+) « Eq30

Income Statement for for month 2 $2.500 Current month Ended 31. Dec. Revenues - Electric work 6/12 15/2 24/12 Billed not received 1 300 5500 poo $7600 Expenses 1100 13.900 900 25 се office space Rent Electric Equipment peoffice supplies office Equipment pffice Equipment Salary utility bill Dividends 470 1700 580 930 TOTAL Expenses + $ Boso $5680) Net Income: 76005680 21 1920

Retained Earnings for Cardent month. Retand eaming, Dec ) - - Capital Introduced Ada! Net Profit Cloes) $0 64300 $4, 480) $ 19 20 Ah 480) 31/12 - Retained Earning $ 1920

8200 +2500 88670 o SONY ELECTRIC BALANSE SHEET DECEMBER 31 - Assets fiabiling 1 office equipment 16,400/ creditors I (13900 + 2500) +420 - 2500 Debtors 4800 Total liability A86TO ! 1500.550ot 800 cality 8670 Cashe calnego Sony sony 64,300 [ 64200 +/300+55007 Retained Earl $1920 Total Equity 1$66,220 -2500-170-530 - 930 [$74890 / Total EAL - $74,890 Total Asset - 1100-5700-900

Sony Slectric Statement of cash flows Cash flow from operating activities Revenue 680on Rent (1100) office Supplig (-900) Salary (1700) utility bill (580) 2,630 Cash flow from Tweeing activity Office equipment 570 + 2500. (8200) (8200) Cash flow activities from financing Capital Dividend 64,300 (930) Coln / Bank Balona 57690
consider the the totals in final photo

The pix are in order of working, and follows the order of questions.