Reference no: EM132620037
Question - Analyzing transactions and preparing financial statements
Sanyu Sony started a new business and completed these transactions during December.
Dec. 1 Sanyu Sony transferred $69,400 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock.
Dec. 2 The company paid $1,700 cash for the December rent.
Dec. 3 The company purchased $13,900 of electrical equipment by paying $5,700 cash and agreeing to pay the $8,200 balance in 30 days.
Dec. 5 The company purchased supplies by paying $900 cash.
Dec. 6 The company completed electrical work and immediately collected $1,700 cash for these services.
Dec. 8 The company purchased $2,780 of office equipment on credit.
Dec. 15 The company completed electrical work on credit in the amount of $6,000.
Dec. 18 The company purchased $410 of supplies on credit. 20 The company paid $2,780 cash for the office equipment purchased on December 8.
Dec. 24 The company billed a client $1,000 for electrical work completed; the balance is due in 30 days.
Dec. 28 The company received $6,000 cash for the work completed on December 15.
Dec. 29 The company paid the assistant's salary of $1,400 cash for this month.
Dec. 30 The company paid $510 cash for this month's utility bill. 31 The company paid $900 cash in dividends to the owner (sole shareholder).
Required - Enter the amount of each transaction on individual items of the accounting equation.