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On October 1, 2020, Santana Rey launched a computer services company, Business Solutions, that is organized as a corporation and provides consulting services, computer system
On October 1, 2020, 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 $50,000 cash, a $26,000 computer system, and $11,000 of office equipment in the company in exchange for its common stock. 3 The company purchased $1, 150 of computer supplies on credit. 6 The company billed Easy Leasing $5,700 for services performed in installing a new web server. 8 The company paid 31, 450 cash for the computer supplies purchased on credit on October 3. 10 The company hired a part-time assistant. 12 The company billed Easy Leasing another $1,800 for services performed. 15 The company received $5, 700 cash from Easy Leasing as partial payment toward its account. 17 The company paid $725 cash to repair its computer equipment. 20 The company paid 31, 653 cash for advertisements published on Facebook. 22 The company received $1,800 cash from Easy Leasing toward its account. 28 The company billed IFM Company $5,258 for services performed. 31 The company paid $945 cash for the assistant's wages for this month. 31 The company paid $3,600 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.) Equity Assets Computer Supplies Date Accounts Receivable Cash Liabilities Accounts Payable + Computer System Office Equipment Common Stock Dividends + Revenues Expenses Oct. 1 Oct. 3 + + + Bal 0 + 0 + 0 + 01 + 0 0 + 0 0 01 + 0 +P Oct. 6 + + + + + Bal 0 + 0 + 0 + 01 + 0 = = 0 = 1 0 0 = 01 + 0 0 - 0 + 0 0 Oct. 8 + + + + + + Bal. 0 + 01 + 0- 0 + 0 - 0 0 + + 0 + 11 0 + + Oct. 12 + + - + +i 0 + Bal 0 + 0- 0 + 0 0 0 + 0 + 0 = TE Oct 15 0 + + 0 + + + Bal 0 + 0 + 0 + 0 - 0 + 0 0 0 = = Oct. 17 + + + + + + 0 + Bal 0 + + 0 + 0 + 0+ 0 - 0 0 0 + +1 01 + + 01 + 0 +1 0 + 0 + 0 + . Oct. 20 + + + Bal 0 + 0 + 0 + 0 = = 0 = = 0 = 0 + 0 0 + 0 - 0 Oct 22 + + + + Bal 0 + 0 - 0 0 + 0 0 0 0 + 17 0 + 0 11 0 + 1
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