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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
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 $50,000 cash, a $23,000 computer system, and $11,000 of office equipment in the company in exchange for its common stock. 3 The company purchased $1,390 of computer supplies on credit from Harris Office Products. 6 The company billed Easy Leasing $5,300 for services performed in installing a new web server. 8 The company paid $1,390 cash for the computer supplies purchased from Harris Office Products on October 3. 10 The company hired Lyn Addie as a part-time assistant for $140 per day, as needed. 12 The company billed Easy Leasing another $2,000 for services performed. 15 The company received $5,300 cash from Easy Leasing as partial payment toward its account. 17 The company paid $750 cash to repair computer equipment damaged when moving it. 20 The company paid $1,653 cash for advertisements published in the local newspaper. 22 The company received $2,000 cash from Easy Leasing toward its account. 28 The company billed IFM Company $5,283 for services performed. 31 The company paid $980 cash for Lyn Addie's wages for seven days of work this month. 31 The company paid $2,700 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.) Assets Liabilities Equity Date Accounts Receivable Office Cash Computer Supplies Computer System Accounts Payable Common Stock Dividends + Equipment Revenues Expe Oct. 1 + + + + + + Oct. 3 + + + + - Bal. 0 + 0 + 0 + 0 0 + 0 + 0 - 0 + nl Oct. 6 + + 0 = 0 = = 0 = + + + Bal. 0 + 0 + 0 + 0 + + 0 0 - 0 + 0- Oct. 8 + + + + + 0 + Bal. 0 + 0 + 0 = 0 + 0 - 0- Oct. 10 0 + + + + 0 + + 0 + + + Bal. 0 + 0 + 0+ 0 0 = 0 + 0 - 0 + 0 0 - Oct. 12 + + + + + +
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