Question:Serial Problem Business Solutions (Algo) LO P1
On October 1, 2020, Santana Rey launched a computer...
Question
Serial Problem Business Solutions (Algo) LO P1
On October 1, 2020, Santana Rey launched a computer services
company, Business Solutions, that is organized as a corporation and
provides consulting services, computer system installations, and
custom program development.
Oct. 1 S. Rey invested $55,000 cash, a $30,000 computer
system, and $10,000 of office equipment in the company in exchange
for its common stock.
3 The company purchased $1,500 of computer supplies on
credit.
6 The company billed Easy Leasing $5,400 for services
performed in installing a new web server.
8 The company paid $1,500 cash for the computer supplies
purchased on credit on October 3.
10 The company hired a part-time assistant.
12 The company billed Easy Leasing another $1,500 for services
performed.
15 The company received $5,400 cash from Easy Leasing as
partial payment toward its account.
17 The company paid $775 cash to repair its computer
equipment.
20 The company paid $1,673 cash for advertisements published
on Facebook.
22 The company received $1,500 cash from Easy Leasing toward
its account.
28 The company billed IFM Company $5,288 for services
performed.
31 The company paid $875 cash for the assistant's wages for
this month.
31 The company paid $3,000 cash in dividends to the owner
(sole shareholder).
Required:
Enter the amount of each transaction on individual items of
the accounting equation. Show new balances after each transaction.
(Enter decreases to account balances with a minus sign. Enter as
per the transaction order provided in the question data.)
Serial Problem Business Solutions (Algo) LO P1
On October 1, 2020, Santana Rey launched a computer...
On October 1, 2011, Santana Rey launched a computer services
company, Business Solutions, that is organized as a corporation and
provides consulting services, computer system installations, and
custom program development. Rey adopts the calendar year for
reporting purposes and expects to prepare the company's first set
of financial statements on December 31, 2011.
Oct.
1
S. Rey invested $54,000 cash, a $23,000 computer system, and
$12,000 of office equipment in the company in exchange for its
common stock.
3
The...
On October 1, 2019, Santana Rey launched a computer services company. Business Solutions, that is organized as a corporation and provides consulting services, computer system installations, and custom program development. Oct. 1 5. Rey invested $47,000 cash, a $21,000 computer system, and $9,000 of office equipment in the company in exchange for its common stock 3 The company purchased $1,330 of computer supplies on credit from Harris Office Products. 6 The company billed Easy Leasing $5,000 for services performed in...
On October 1, 2019, Santana Rey launched a computer services company, Business Solutions, that is organized as a corporation and provides consulting services, computer system installations, and custom program development Oct. 1 S. Rey invested $52,000 cash, a $30,000 computer systen, and $12,500 of office equipment in the company in exchange for its common stock. 3 The company purchased $1,410 of computer supplies on credit from Harris Office Products. 6 The company billed Easy Leasing $5,700 for services performed in...
On October 1, 2019, Santana Rey launched a computer services company, Business Solutions, that is organized as a corporation and provides consulting services, computer system installations, and custom program development. 1 S. Rey invested $55,000 cash, a $24,000 computer system, and $12,500 of office equipment in the company in exchange for its common stock. 3 The company purchased $1,370 of computer supplies on credit from Harris Office Products. 6 The company billed Easy Leasing $5,300 for services performed in installing...
Serial Problem starts here and continues throughout the book. SP 1 On October 1, 2017, Santana Rey launched a computer services company. Business Solutions that is organized as a proprietorship and provides consulting services. computer system installations, and cus. tom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2017. SERIAL PROBLEM Business Solutions C4 P1 Required Create a table like the one in Exhibit...
On October 1, 2019, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2019. The company's initial chart of accounts follows NO. Account Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent office Equipment Computer Equipment Accounts Payable No. Account 101 Common Stock 106 Dividends 126...
On October 1, 2018, Santana Rey launched a computer services
company called Business Solutions, which provides consulting
services, computer system installations, and custom program
development. Rey adopts the calendar year for reporting purposes
and expects to prepare the company’s first set of financial
statements on December 31, 2018. The company’s initial chart of
accounts follows.
Account
No.
Account
No.
Cash
101
Common Stock
307
Accounts Receivable
106
Dividends
319
Computer Supplies
126
Computer Services Revenue
403
Prepaid Insurance
128
Wages...
On October 1, 2018, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2018. The company's initial chart of accounts follows. No. No. 307 Account Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accounts Payable Account 101 Common Stock 106 Dividends...
On October 1, 2019, Santana Rey launched a computer services
company called Business Solutions, which provides consulting
services, computer system installations, and custom program
development. Rey adopts the calendar year for reporting purposes
and expects to prepare the company’s first set of financial
statements on December 31, 2019. The company’s initial chart of
accounts follows.
Account No. Account No.
Cash 101 Common Stock 307 Accounts Receivable 106 Dividends 319
Computer Supplies 126 Computer Services Revenue 403 Prepaid
Insurance 128 Wages...