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Required information [The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. Dec. 1
Required information [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 $64,100 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 $1,800 cash for the December rent. 3 The company purchased $14,600 of electrical equipment by paying $6,400 cash and agreeing to pay the $8,200 balance in 30 days. 5 The company purchased office supplies by paying $900 cash. 6 The company completed electrical work and immediately collected $2,000 cash for these services. 8 The company purchased $2,820 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $5,300. 18 The company purchased $460 of office supplies on credit. 20 The company paid $2,820 cash for the office equipment purchased on December 8. 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. 28 The company received $5,300 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,600 cash for this month. 30 The company paid $540 cash for this month's utility bill. 31 The company paid $920 cash in dividends to the owner (sole shareholder). 2-a. Prepare an income statement for the current month. 2-b. Prepare a statement of retained earnings for the current month. 2-c. Prepare a balance sheet as of the end of the month. 3. Prepare a statement of cash flows for the current month. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 20 Required 3 Prepare an income statement for the current month. SONY ELECTRIC Income Statement For Month Ended December 31 Revenues 0 Total Revenues Expenses Total expenses 0 $ 0
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