Required information The following information applies to the questions displayed below) Sanyu Sony started a new business and completed these transactions during December 2 Dec 700 1 Sanyu Sony transferred $64,700 cash from a personal savings account to checking account in the name of Sony Electric in exchange for its common stock 2 The company rented office space and paid $1,500 cash for the December rent 3 The company purchased $14,800 of electrical equipment by paying $6,600 cash and agreeing to pay the 50,200 balance in 30 days 5 The company purchased office supplies by paying 5000 cash The company completed electrical work and Imediately collected $1,200 cash for these services. # The company purchased $2,800 of office equipment on credit 15 The company completed electrical work on credit in the mount of $5,300 18 The company purchased $420 of office supplies on credit. 20 The company paid $2,300 cash for the office equipent 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 $6,300 cash for the work completed on December 15, 29 The company paid the assistant's salary of $1,900 cash for this month. 30 The company paid $590 cash for this month's utility bill. 31. The company paid $900 cash in dividends to the owner (sole shareholder) 2.1. Prepare an income statement for the current month SONY ELECTRIC Income Statement For Month Enclod December 31 Revenues Expenses Total expenses 2.2. Prepare a statement of retained earnings for the current month. SONY ELECTRIC Statement of Retained Emas PO Month and December Retained earnings December 1 $ 0 0 Retained earnings, December 31 $ 0 2.3. Prepare a balance sheet as of the end of the month SONY ELECTRIC Balance Sheet December 31 Assets Liabilities Equity Total equilty 0 Total liabilities and equity Total assets $ 5 0 ! Required information 3. Prepare a statement of cash flows for the current month. (Cash outflows should be indicated with a minus sign.) SONY ELECTRIC Statement of Cash Flows For Month Ended December 31 Cash flows from operating activities $ 0 Cash flows from investing activities 0 Cash flows from financing activities 5 0 0 0 Cash balance Dec 1 Cash balance, Dec 31 $ 0 The following information applies to the questions displayed below) Sanyu Sony started a new business and completed these transactions during December Dec. 1 Sany Sony transferred 564,700 cash from a personal savings account to checking account in the name of Sony Electric in exchange for its common stock 2. The company rented office space and paid 51, see cash for the December rent 3. The company purchased $14,000 of electrical equipment by paying $6,500 cash and agreeing to pay the 55,200 balance in 30 days 5 The company purchased office supplies by paying $800 cash The company completed electrical work and mediately collected $1,200 cash for these services The company purchased $2,000 of office equipment on credit 15 The company completed electrical work on credit in the mount of 56,300 15 The company purchased 1420 of office supplies on credit 20 The company paid $2.500 cash for the office equipment purchased on December 24 The company billed a client $800 for electrical work completed the balance is due in 30 days 211 The company received 56,300 cash for the work completed on December 15 29 The company paid the assistant salary of $1,900 cash for this month 30 The company paid 3500 cash for this month's utility bill 31 The company paid $900 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 accounting balonces with & minus sign) Assets office Supatios Account Receivable Equity Dividende Revenues Office Equipment Llabilities Accounts Payable Electrical Ement Common Stock Expenses . DA De 1 2 . + 0 0 ol 0 0 0+ 0 + + + 3 - . 012 0 0+ 0 + B 0+ O 0 . . st + + 0 0 0 0 0 + 0 0 Bal O 0 + . D 0 0 0 0 O 0 Bal . 8 - ol 0 0 0 0 B 0 0+ + Prov of 2 !!! Next >
