! Required information [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 $65,000 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. 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 $1,000 cash. December 6 The company completed electrical work and immediately collected $1,900 cash for these services. December 8 The company purchased $2,850 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $4,900. December 18 The company purchased $320 of supplies on credit. December 20 The company paid $2,850 cash for the office equipment purchased on December 8. December 24 The company billed a client $1,000 for electrical work completed; the balance is due in 30 days. December 28 The company received $4,900 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,600 cash for this month. December 30 The company paid $520 cash for this month's utility bill. December 31 The company paid $940 cash in dividends to the owner (sole shareholder). Answer is not complete. Assets Equity Date Cash Liabilities Accounts Payable Accounts Receivable + + Supplies Office Equipment + Electrical Equipment + + Dividends + Revenues Expenses Common Stock $ 65,000 + + + + + + December 1 December 2 $ 65,000 (1,400) OU + + + + = + + 1,400 + 0 + 0 + 0 + 0 = 0 + 65,000 0 + 0 1,400 Balance after December 1 and December 2 December 3 Balance after December 3 + + + 13,500 = + + 8,200 8,200 + lo + 0 + 0 + 13,500 = + 65,000 0 + 0 1,400 63,600 (5,300) + 58,300 (1,000) 57,300 1,900 59,200 + + 1,000 + + - December 5 Balance after December 5 December 6 + + 0 + 1,000 + | | 0 + 13,500 = 8,200 65,000 0 + 0 1,400 + + + + + + 1,900 Balance after December 6 + 0 + 1,000 + 0 + 13,500 = 8,200 + 65,000 0 + 1,900 1,400 December 8 + + + + 2,850 + + 2,850 2,850 Balance after December 8 59,200 + 0 + 1,000 + + 13,500 = 11,050 + 65,000 0 + 1,900 1,400 December 15 + + + + + + 4,900 4,900 4,900 59,200 + + 1,000 + 2,850 + 13,500 11,050 + 65,000 0 + 6,800 1,400 Balance after December 15 December 18 + + 320 + + 320 + Balance after December 18 59,200 + 4,900 + 1,320 + 2,850 + 13,500 + 65,000 0 + 6,800 1,400 December 20 o + + + + 11,370 (2,850) 8,520 (2,850) 56,350 + Balance after December 20 + 4,900 + 1,320 + 2,850 + 13,500 = + 65,000 0 + 6,800 1,400 December 24 + > + + + = + + 1,000 7,800 + 1,000 5,900 (4,900) + 1,320 + 2,850 + 13,500 = 8,520 + 65,000 0 + Balance after December 24 December 28 1,400 56,350 4,900 + + + + + Balance after December 28 61,250 + 1,000 + 1,320 + 2,850 + 13,500 8,520 + 65,000 0 + 7,800 1,400 + + + + + December 29 Balance after December 29 61,250 + 1,000 + 1,320 + 2,850 + 13,500 8,520 + 65,000 0 + 7,800 1,400 + + + + + + 520 December 30 Balance after December 30 December 31 1,000 + 1,320 + 2,850 + 13,500 8,520 + 65,000 0 + 7,800 1,920 (520) 60,730 (940) $ 59,790 + + + + + 940 + Balance after December 31 + $ 1,000 + $ 1,320 + $ 2,850 + $ 13,500 $ 8,520 + $ 65,000 $ 940 + $ 7,800 $ 1,920 SONY ELECTRIC Statement of Cash Flows For Month Ended December 31 Cash flows from operating activities Cash paid for rent Cash paid for utilities $ (1,400) 520 $ (880) Cash flows from investing activities 0 Cash flows from financing activities 0 $ (880) Cash balance, December 1 0 Cash balance, December 31 $ (880)
