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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 $67,800 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 $1,300 cash for the December rent. 3 The company purchased $13,700 of electrical equipment by paying $5,500 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 $1,500 cash for these services. 8 The company purchased $2,740 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $4,900. 18 The company purchased $320 of office supplies on credit. 20 The company paid $2,740 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 $1,900 cash for this month. 30 The company paid $580 cash for this month's utility bill. 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 accounting balances with a minus sign.) a minus sign. Assets Equity Date Cash Accounts Receivable + Liabilities Accounts Payable Office Supplies + Office Equipment Electrical Equipment + Common Stock Dividends + Revenues Expenses Dec 1 + + + + 2 + + + + + + Bal. 0 + 0 + 0 + + 0 01 = 0 + 0 - 0 + 0 - 0 3 + + + + = + - + Bal. 0 + 0 + + 10 0 + 0 0 + 0 0 + 0 01 - 0 5 + + + + + + + + Bal. 0 + 0 + + 10 0 + 0] = 0 + 0 - 0 + 0 - 0 9 + + + + + + Bal. + 0 0 + 0 + 0 + 10 0 + 0 - 0 + - 0 0 8 + + + + = + + Bal. + 0 0 + ol + ol + 0 0 = + 0 0 - + 10 -10 0 15 + + + + = + + Bal. + 0 0 + + 10 0 + 0 = + 0 0 - 0 + 0 - 0 18 + + + = + + + + Bal. 0 + 0 + 0 ol + = 0 0 + 0 - 0 + 0 0 - 0 20 + + + + + + Bal. O + 0 + + 10 +10 0 = 0 + 0 - 0 + - 0 0 24 + + + + = + + + - 0 - Bal. 0 + 0 + 0 + 0 + 0 = + 0 0 + - 0 0 28 + + + + = + + + 0 + + Bal. + 0 + 10 + 0 0 = + 0 0 - 0 + 0 - 0 29 + + + + = + + Bal. + 0 0 + ol + 0 + ol = 0 + 0 - + 0 0 - 0 30 + + + + + + Bal. 0 + 0 + + 10 0 + 0 = 0 + 0 - + 0 - 0 0 31 + + + = + + Bal. S 0 + $ 0 + $ 0 + $ 0 + $ 0] = $ 0 + $ 0 $ 0 + $ 0 $ 0
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