Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On October 1, 2021, Santana Rey launched a computer services company, Business Solutions, that is organized as a proprietorship and provides consulting services, computer system

image text in transcribed
image text in transcribed
On October 1, 2021, Santana Rey launched a computer services company, Business Solutions, that is organized as a proprietorship and provides consulting services, computer system installations, and custom program development. October 1 Santana Rey invested $55,800 cash, a $20,000 computer system, and $10,500 of office equipsent in the company. october 3 The company purchased $1,350 of computer supplies on credit. October 6 The company billed Easy Leasing $5,300 for services performed in installing a new web server. October 8 The company paid $1,350 cash for the computer supplies purchased on credit on october 3 . October 10 The company hired a part-time assistant. October 12 The company billed Easy Leasing another $2,100 for services performed. october 15 The company received $5,300 cash from Easy Leasing as partial payment toward its account. october 17 The company paid $735 cash to repair its computer equipment. October 20 The company paid $1,718 cash for advertisements published on Facebook. october 22 The company received $2,100 cash fron Easy Leasing toward its account. october 28 The company billed IfM Company $5,243 for services performed. October 31 The company paid $1,050 cash for the assistant's wages for this month. october 31 Santana Rey withdrew $2,800 cash from the company for personal use. Required: Enter the amount of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions