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These are all parts of the same questions please answer them correctly for each section as shown in the boxes. Sanyu Sony started a new
These are all parts of the same questions please answer them correctly for each section as shown in the boxes.
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. December 2 The company paid $1,800 cash for the December rent. December 3 The company purchased $13,100 of electrical equipment by paying $4,900 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $700 cash. December 6 The company completed electrical work and immediately collected $1,900 cash for these services. December 8 The company purchased $2,890 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $5,500. December 18 The company purchased $340 of supplies on credit. December 20 The company paid $2,890 cash for the office equipment purchased on December 8. December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. December 28 The company received $5,500 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,300 cash for this month. December 30 The company paid $570 cash for this month's utility bill. December 31 Sanyu Sony withdrew $950 cash from the company for personal use. 2-a. Prepare the income statement for the current month. 2-b. Prepare the statement of owner's equity for the current month. 2-c. Prepare the balance sheet as of the end of the month. 3. Prepare the statement of cash flows for the current month. Prepare the income statement for the current month. Complete this question by entering your answers in the tabs below. Prepare the statement of owner's equity for the current month. Prepare the balance sheet as of the end of the month. Required information \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ SONY ELECTRIC } \\ \hline \multicolumn{2}{|c|}{ Statement of Cash Flows } \\ \hline \multicolumn{2}{|c|}{ Month Ended December 31} \\ \hline Cash flows from operating activities & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Cash flows from investing activities & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular}Step by Step Solution
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