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On October 1, 2019, Santana Rey launched a omputer services company, Business Solutions, that is organized as a corporation and provides consulting services, computer system
On October 1, 2019, Santana Rey launched a omputer 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 $46,000 cash, a $26,000 computer system, and $12,500 of office equipment in the company in exchange for its common stock. 3 The company purchased $1,450 of computer supplies on credit from Harris office Products. 6 The company billed Easy Leasing $5,200 for services performed in installing a new web server. 8 The company paid $1,450 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 $150 per day, as needed 12 The company billed Easy Leasing another $2,100 for services performed 15 The company received $5,200 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 $1,678 cash for advertissements published in the local newspaper 22 The company received $2,100 cash from Easy Leasing toward its account 28 The company billed IFM Company $5,288 for services performed 31 The company paid $1,050 cash for Lyn Addie's wages for seven days of work this month 31 The company paid $2,800 cash in dividendss 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 Accounts Computer Supplies Computer System Office Accounts Common Date Cash Dividends Revenues Expenses Receivable Equipment Payable Stock 46,000 26,000 12,500 Oct. 1 S + + Oct. 3 1,450 + + + + 46,000 12,500 26,000 Bal 0 + 1,450 0 0 0 5,200 Oct. 6 + +r 46,000 Bal 5,200 26,000 12,500 0+ 0- 1,450 0 0 C 0 Oct. 8 + + + 46,000 26,000 5,200 0- Bal 1,450 12,500 0 C 0 + 0 Oct. 10 + + + + 46,000+ 26,000 12,500 0 C 0- Bal. 5,200 1,450 0 0 0 + 2,100 Oct. 12 + + + 46,000 7,300 26,000 12,500 Bal 1,450 C 0 0 C 0 C 0 + 5,200 51,200 Oct. 15 + + 26,000+ 12,500 Bal 7,300 0+ 1,450 0+ C 0- 0 + 730 Oct. 17 + 4. + - 51,930 7,300 26,000 Bal. 1,450 12,500 0 0 C 0 4 1,678 Oct. 20 + + 0- 53,608 12,500 Bal. 7,300 26,000 0+ 1,450 0+ 0 0 - 2,100 Oct. 22 + + + 7,300 0- 55,708 26,000 Bal 1,450+ 12,500 0+ 0 0 +
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