Required information Problem 1-9 A Analyzing transactions and preparing financial statements LO C4, P1, P2 {The following information applies to the questions displayed below. Sanyu Sony started a new business and completed these transactions during December Dec. 1 Sanyu Sony transferred $69,500 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 $1,200 cash for the December rent. 3 The company purchased $14,000 of electrical equipment by paying $5,800 cash and agreeing to pay the $8,200 balance in 30 days. 5 The company purchased office supplies by paying $800 cash. 6 The company completed electrical work and immediately collected $1,900 cash for these services. 8. The company purchased $2,580 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $4,900. 18 The company purchased $340 of office supplies on credit. 20 The company paid $2,580 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 $4,900 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,700 cash for this month. 30 The company paid $540 cash for this month's utility bill. 31 The company paid $990 cash in dividends to the owner (sole shareholder). Problem 1-9A Part 1 Expenses Required: 1. Enter the amount of each transaction on individual items of the accounting equation (Enter reductions to account balances with a minus sign.) Equity Liabilities Assets Office Office Accounts Electrical Accounts Common Date Revenues Cash Dividends Receivable Supplies Equipment Payable Equipment Stock Dec 1 2 B . + . . 3 + + Bal . + . . 5 - . - Bal . . Bal . . - Bal + + Bal . 18 --- . Bal +++ 20 + + + Bal - 24 Bal 1 14 15 of 21 Next > 14 OL