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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 s. Rey invested $53,000 cash, a $24,000 computer system, and $10,000 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 $5,600 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 $145 per day, as needed. 12 The company billed Easy Leasing another $1,600 for services performed. 15 The company received $5,600 cash from Easy Leasing as partial payment toward its account. 17 The company paid $730 cash to repair computer equipment damaged when moving it. 20 The company paid $1,723 cash for advertisements published in the local newspaper. 22 The company received $1,600 cash from Easy Leasing toward its account. 28 The company billed IFM Company $5,243 for services performed. 31 The company paid $1,015 cash for Lyn Addie's wages for seven days of work this month. 31 The company paid $3,500 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 Cash Accounts Receivable Computer Supplies Computer System Office Equipment Accounts Payable Common Stock Dividends + Revenues Expenses Oct. 1 + Oct. 3 + + + Bal Oct. 6 + Bal. + Oct. 8 + Bal. + + + + Oct. 10 Bal. + Oct. 12 + + + Bal. Oct. 15 + + + Bal. Oct. 17 + + Bal. + + Oct. 20 + + + + + Bal. Oct. 22 + + Bal. + + Oct. 28 + + + + + Bal. Oct. 31 + Bal + ++ + Oct. 31 Bal. + +
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