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

Date					Assets						Liabilities			Equity
Dec.	Cash	+	Accounts Receivable	+	Office Supplies	+	Office Equipment	+	Electronic Equipment	=	Accounts Payable	+	S. Sony Capital	-	S. Sony, withdrawal	+	Revenue	-	Expenses
01	68,100									=		+	68,100					-	1,000
02	(1,000)									=
Bal.	67,100									=			68,100					-	1,000
03	(6,100)							+	14,300	=	8,200	+	68,100
Bal.	61,000							+	14,300	=	8,200	+	68,100					-	1,000
05	(700)			+	700
Bal.	60,300			+	700			+	14,300	=	8,200	+	68,100					-	1,000
06	1,200															+	1,200
Bal.	61,500			+	700			+	14,300	=	8,200	+	68,100			+	1,200	-	1,000
08						+	2,530			=	2,530
Bal.	61,500			+	700	+	2,530	+	14,300	=	10,730	+	68,100			+	1,200	-	1,000
15		+	4,500													+	4,500
Bal.	61,500	+	4,500	+	700	+	2,530	+	14,300	=	10,730	+	68,100			+	5,700	-	1,000
18				+	400					=	400
Bal.	61,500	+	4,500	+	1,100	+	2,530	+	14,300	=	11,130	+	68,100			+	5,700	-	1,000
20	(2,530)									=	(2,530)
Bal.	58,970	+	4,500	+	1,100	+	2,530	+	14,300	=	8,600	+	68,100			+	5,700	-	1,000
24		+	900													+	900
Bal.	58,970	+	5,400	+	1,100	+	2,530	+	14,300	=	8,600	+	68,100			+	6,600	-	1,000
28	4,500	+	(4,500)							=
Bal.	63,470	+	900	+	1,100	+	2,530	+	14,300	=	8,600	+	68,100			+	6,600	-	1,000
29	(2,000)									=								-	2,000
Bal.	61,470	+	900	+	1,100	+	2,530	+	14,300	=	8,600	+	68,100			+	6,600	-	3,000
30	(550)									=								-	550
Bal.	60,920	+	900	+	1,100	+	2,530	+	14,300	=	8,600	+	68,100			+	6,600	-	3,550
31	(940)									=				-	940
Bal.	59,980	+	900	+	1,100	+	2,530	+	14,300	=	8,600	+	68,100	-	940	+	6,600	-	3,550

These are called Accounting Equation. In these equations both sides are always equal.