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.)


Check my work Assets Liabilities Equity Date Cash Accounts Receivable Computer Supplies Accounts Payable Common Stock Dividen
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Answer #1
Assets = Liabilities + Equity
Date Cash + Accounts Receivable + Computer Supplies + Computer Systems + Other Equipments = Accounts Payable + Common Stock - Dividends + Revenue - Expense
Oct 1. 55000 + + + 30000 + 10000 = + 95000 - + -
Oct 3. + + 1500 + + = 1500 + - + -
Oct 6. + 5400 + + + = + - + 5400 -
Oct 8. -1500 + + + + = -1500 + - + -
Bal 53500 + 5400 + 1500 + 30000 + 10000 = 0 + 95000 - + 5400 -
Oct 12. + 1500 + + + = + - + 1500 -
Bal 53500 + 6900 + 1500 + 30000 + 10000 = + 95000 - + 6900 -
Oct 15. 5400 + -5400 + + + = + - + -
Bal 58900 + 1500 + 1500 + 30000 + 10000 = + 95000 - + 6900 -
Oct 17. -775 + + + + = + - + - 775
Bal 58125 + 1500 + 1500 + 30000 + 10000 = + 95000 - + 6900 - 775
Oct 20. -1673 + + + + = + - + - 1673
Bal 56452 + 1500 + 1500 + 30000 + 10000 = + 95000 - + 6900 - 2448
Oct 22. 1500 + -1500 + + + = + - + -
Bal.
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