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What am I missing here? It shows incomplete when I submit it. Sanyu Sony started a new business and completed these transactions during December. Dec.
What am I missing here? It shows incomplete when I submit it.
Sanyu Sony started a new business and completed these transactions during December. Dec. i Sanyu Sony transferred $68,300 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 $1,400 cash for the December rent. 3 The company purchased $14,500 of electrical equipment by paying $6,300 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 $1,700 cash for these services. 8 The company purchased $2,940 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $6,300. 18 The company purchased $410 of office supplies on credit. 20 The company paid $2,940 cash for the office equipment purchased on December 8. 24 The company billed a client $1,000 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 $1,700 cash for this month. 30 The company paid $520 cash for this month's utility bill. 31 The company paid $930 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 account balances with a minus sign.) Equity Assets Office Supplies Accounts Receivable Date Cash Liabilities Accounts Payable Office Equipment + Electrical Equipment + Dividends + Revenues Expenses Common Stock $ 68,300 Dec 1 $ + 2 + + 1,400 1,400 Bal. 0 + 0 + 0 + 0 0 + 68,300 0 0 - 3 + 68,300 + (1,400)| + 66,900 + (6,300) + 60,600 + (900)| + 59,700 + + + + 8,200 + 8,200 + Bal. 0 + 0 + 0 + 0 = 68,300 - 0 + 0 1,400 5 + + + + Bal. 01 + 0 + 0 + 0 = 8,200 + 68,300 01 + 0 - 1,400 61 + + + + + 1,700 - Date Cash + Accounts Receivable Office Supplies Office Equipment Electrical Equipment Accounts Payable Dividends + Revenues Expenses Common Stock $ 68,300 Dec. 1 $ + + 2 + + + + 1,400 1,400 Bal. 0 + 0 + 0 + 0 = 0 + 68,300 0 + 0 - 3 68,300| + (1,400) + 66,900 + (6,300) + 60,600 + (900) + 59,700 + + + = + 8,200 + 8,200 + Bal. 0 + 0 + 0 + 0 = 68,300 - 0 + 0 1,400 5 + + + + Bal. 0 + 0 + 0 + 8,200 + 68,300 0 + 0 1,400 + + 6 + + + + 1,700 1,700 Bal. 59,700 + 0 + 0 + 0 + 0 68,300 - 0 + 1,400 8 + + 2,940 + 2,940 + 8,200 + 2,940 + 11,140 + Bal. 59,700 + 0 + 0 + 0 = 68,300 - 0 + 1,700 - 1,400 15 + + + + 6,300 6,300 + 6,300 + Bal. 59,700 + 0 + 2,940 + 0 = 11,140 + 68,300 - 0 + 8,000 - 1,400 18 + + 410 + + = + Bal. 59,700 + 6,300 + 410 + 2,940 + 0 = 11,140 + 68,300 - 0 + 8,000 1,400 20 + + = + + (2,940)| + 56,760 + Bal. 410 + 2,940 + 0 = 68,300 0 + 8,000 1,400 11,140 + + 24 6,300 + 1,000 + 7,300 + + = + 1,000 - 9,000 Bal. 410 + 2,940 + 0 = 11,140 + 68,300 - 0 + 1,400 28 + + + 0 Bal. 7,300 + 410 + 2,940 + 0 = 11,140 + 68,300 0 + 9,000 29 56,760 + 6,300 + 63,060 + (1,700) + 61,360 + (520)| + 60,840 + ] + = + + 1,400 (1,700)| (300) 520 Bal. 410 + 2,940 + 01 = 11,140 + 68,300 0 + 9,000 - 7,300 + + 30 + + + Bal. 7,300 + 410 + 2,940 + 0 = 11,140 + 68,300 0 + 9,000 220 Bal 56,760 + 410 + 2,940 + 0 = 11,140 + 68,300 0 + 8,000 1,400 24 + 6,300 + 1,000 + 7,300 + + + + + 1,000 9,000 Bal. 410 + 2,940 + 0 = 11,140 + 68,300 0 + 1,400 28 + + + + + 0 Bal. 7,300 + 410 + 2,940 + 0 = 11,140 + 68,300 0 + 9,000 29 + + + + + 56,760 + 6,300 + 63,060 + (1,700)| + 61,360 + (520) + 60,840 + (930) + 59,910 + 1,400 (1,700) (300) 520 Bal. 7,300 + 410 + 2,940 + 0 = 11,140 + 68,300 0 + 9,000 + + 30 + = + + Bal. 7,300 + 410 + 2,940 + 0 = 11,140 + 68,300 - 0 + 9,000 220 31 + + + 930+ 930 + Bal. $ $ 7,300 + $ 410 + $ 2,940 + $ 0 = $ 11,140 + $ 68,300 $ $ 9,000 $ 220Step by Step Solution
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