Problem 1-9A Analyzing transactions and preparing financial statements LO C4, P1, P2

Sanyu Sony started a new business and completed these transactions during December.

Dec.		1		Sanyu Sony transferred $69,100 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock.
		2		The company rented office space and paid $1,400 cash for the December rent.
		3		The company purchased $14,700 of electrical equipment by paying $6,500 cash and agreeing to pay the $8,200 balance in 30 days.
		5		The company purchased office supplies by paying $700 cash.
		6		The company completed electrical work and immediately collected $1,900 cash for these services.
		8		The company purchased $3,000 of office equipment on credit.
		15		The company completed electrical work on credit in the amount of $5,500.
		18		The company purchased $380 of office supplies on credit.
		20		The company paid $3,000 cash for the office equipment purchased on December 8.
		24		The company billed a client $800 for electrical work completed; the balance is due in 30 days.
		28		The company received $5,500 cash for the work completed on December 15.
		29		The company paid the assistants salary of $2,000 cash for this month.
		30		The company paid $520 cash for this months utility bill.
		31		The company paid $920 cash in dividends to the owner (sole shareholder). 2.1. Prepare the income statement for the current month. 2.2. Prepare the statement of retained earnings for the current month. 2.3. Prepare the balance sheet as of the end of the month.