Answered step by step
Verified Expert Solution
Question
1 Approved Answer
[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
[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 $66,400 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 $2,000 cash for the December rent. | |||
3 | The company purchased $14,300 of electrical equipment by paying $6,100 cash and agreeing to pay the $8,200 balance in 30 days. | |||
5 | The company purchased office supplies by paying $1,000 cash. | |||
6 | The company completed electrical work and immediately collected $1,600 cash for these services. | |||
8 | The company purchased $2,690 of office equipment on credit. | |||
15 | The company completed electrical work on credit in the amount of $6,700. | |||
18 | The company purchased $430 of office supplies on credit. | |||
20 | The company paid $2,690 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 $6,700 cash for the work completed on December 15. | |||
29 | The company paid the assistants salary of $1,900 cash for this month. | |||
30 | The company paid $550 cash for this months utility bill. | |||
31 | The company paid $920 cash in dividends to the owner (sole shareholder). |
1. Enter the amount of each transaction on individual items of the accounting equation. (Enter reductions to account balances with a minus sign.)
ezco.mheducation.com i.ameritrade.... > Bing Bing Downloads History DTD Ameritrade Lo... Study Chapter 12... Best Quiz 4 - POL... method adta >) hapter 01 Saved Help Save & Exit Subm Check my work 1 Required information Assets Equity Cash Accounts Receivable Office Supplies Office Equipment Liabilitias Electrical Accounts Equipment Payable Dividonds + Ravenues Common Stock 0 Expenses + + + 2 + + + + + 0 + 0 + 01 + 0 0 + 0 0+ 0 - 0 0 3 + + + 0+ + 0 0 4 + + ces ol + 0 + 0 0+ 011 0 01 0 O + ol 5 + + + + + 0 + + 01 + 0 + O 017 0 - 0+ 6 + + + 0 + + 0 + + 0 + 0 01 01+ 0 0 + 8 + + + 0 + 01 + 0 + 01 + 0 0 + ol 0 0 15 + + 0 + 0 + 0 0 + O + OH 0 + 0 01 + 0 18 + + 0 + 0 + ol 0 ol 0 + 0 O 0 0 20 + 1- 0 + 01 + 0 0 0. 0 0 0 + D DStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started