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Required information Skip to question [The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during
Required information
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[The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December.
December 1 | Sanyu Sony transferred $68,500 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. |
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December 2 | The company paid $1,400 cash for the December rent. |
December 3 | The company purchased $13,500 of electrical equipment by paying $5,300 cash and agreeing to pay the $8,200 balance in 30 days. |
December 5 | The company purchased supplies by paying $800 cash. |
December 6 | The company completed electrical work and immediately collected $1,900 cash for these services. |
December 8 | The company purchased $2,910 of office equipment on credit. |
December 15 | The company completed electrical work on credit in the amount of $6,200. |
December 18 | The company purchased $370 of supplies on credit. |
December 20 | The company paid $2,910 cash for the office equipment purchased on December 8. |
December 24 | The company billed a client $900 for electrical work completed; the balance is due in 30 days. |
December 28 | The company received $6,200 cash for the work completed on December 15. |
December 29 | The company paid the assistants salary of $1,900 cash for this month. |
December 30 | The company paid $550 cash for this months utility bill. |
December 31 | The company paid $910 cash in dividends to the owner (sole shareholder). |
Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter reductions to account balances with a minus sign.)
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