Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I am really confused The following information applies to the questions displayed below) anyu Sony started a new business and completed these transactions during December.
I am really confused The following information applies to the questions displayed below) anyu Sony started a new business and completed these transactions during December. ec. 1 Sanyu Sony transferred $69,700 cash from a personal savings account to a checking account in the nane of Sony Electric in exchange for its common stock. 5 2 The company rented office space and paid 61,900 cash for the December rent. 3 The company purchased $14, 600 of electrical equipment by paying $6,400 cash and agreeing to pay the 63,200 balance in 30 days 5 The company purchased office supplies by paying $900 cash 6 The conpany completed electrical work and irmediately collected $1,100 cash for these services. 8 The company purchased $2,810 of office equipment on credit. 15 The conpany completed electrical work on credit in the anount of 65,900. 18 The company purchased $310 of office supplies on credit 20 The company paid $2,810 cash for the office equipment purchased on Decenber 8. 24 The company billed a client #1,000 for electrical work completed; the balance is due in 30 days. 28 The company received 45, 900 cash for the work completed on December 15. 29 The company paid the assistants salary of $1,e00 cash for this month. 30 The company paid $540 cash for thi month's utility bill 31 The company paid $940 cash in dividenda to the owner (sole ahareholder). ed: the amount of each transaction on individual items of the accounting equation. (Enter s sign.) balences with reductions to As 89 7001
I am really confused
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started