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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 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 $1,700 cash for the December rent. 3 The company purchased $15,000 of electrical equipment by paying $6,800 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 $1,100 cash for these services. 8 The company purchased $2,800 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $5,700. 18 The company purchased $340 of office supplies on credit. The company paid $2,800 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 $5,700 cash for the work completed on December 15. 29 The company paid the assistant's salary of $2,000 cash for this month. 30 The company paid $560 cash for this month's utility bill. 31 The company paid $990 cash in dividends to the owner (sole shareholder) Required: 2. Enter the amount of each transaction on individual items of the accounting equation. (Enter reductions to accounting balances with a minus sign.) Equity Assets Office Supplies Date Liabilities Accounts Payable C ash - Office Equipment Recebal Electrical Equipment . Dividends Revenues - - Expenses Dec 11 $ 21 . + 0 + Common - Stock $ 68,300 - - 68.300 - 1,700 1,700 Bal. 0 + 0 + + 3 - 0 15,000 - - - 0 8.200+ 8.200 + 38.. - - - - 0 + + 0 + 900 + 900 64.3001 - 0. 68,300 (1.700) + 66,600 + 1 8,600) 59.800 + (900) + 58.900 + 1,100 + 60.000 + + 60.000 + + 60.000 0 0 + + 0 + 1,700 0 15000 = 1,700 2000 15.000 . . 2,8001 2.800 1.700 900 15000- 1.700 0 + 5.700 + 5.700 + 2.800 - 15.000 - 1,700 8200 + 68,300 - 0+ 0 - . 1.100- 8.200 - 68.200 - 0 + 1.100 - 2800 - - 11.000 300 0 1.100 - + - 11,000 68,300 1 - 0 . 1.100 - 340 LED- 11 340 + 58,300 - 0 + 1.100- - - - 11 340 a 300 - 0 + 1.100 - 900 - 68, 300 0 - 2.000 - + 11.340 + ol + 2,000 - 5.700 + 900 + 3401 1,240 - 1240 2.800 15.000 - 60.0001 + (2.800) - 1 57,200 1,700 . - 5.700 2,800 15.000 1,700 - 6,600 - 1240 2.800 15 000 1,700 6.600 + 1.240 1 28001 - 15000 - 292 5.600 5.700 - 62.900 + .0001 - 60.900 + (5601 60,340 + (990) 59,350 + 1,240 2.500 15.000 68,300 - 0 + 30 2,000 3.700 580 4,200 2,000 - - .000 - L 6.800 0 2 Bal $ 6,600 1,200 $ 2.800 $ 15,000 - 11.340 + 990 + 990 68.100- $ 2.000 S 4.260 Answer is not complete Equity . - Dividends Revenue - Expenses 2 1 ,7001 1.700 6.300) ....... ....... .............. 1700 . 2800 .000
