Required information Problem 1-9A (Algo) Analyzing transactions and preparing financial statements LO P1, P2 [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 $65,700 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 paid $1,700 cash for the December rent. 3 The company purchased $13,000 of electrical equipment by paying $4,800 cash and agreeing to pay the $8,200 balance in 30 days. 5 The company purchased supplies by paying $700 cash. 6 The company completed electrical work and immediately collected $1,200 cash for these services. 8 The company purchased $2,590 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $6,600. 18 The company purchased $470 of supplies on credit. 20 The company paid $2,590 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 $6,600 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,800 cash for this month. 30 The company paid $510 cash for this month's utility bill. 31 The company paid $990 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.) Expenses Bal. 3 Bal. 5 Bal. 6 Bal. 8 Bal. ++++++++++++ + + + + + + + + + + + + + + + + + + +++++++++++ Assets Date Cash Accounts Receivable Supplies Office Equipment Electrical Equipment Liabilities Accounts Payable Equity Common Stock Dividends Revenues Dec. 12 + + + + + = = = 15 + + + + Bal. + + + = 18 + + + Bal. + + + 20 + + + | + + + = = = ++++++++++++++++ + ++++++ + + +++ Bal. 8 + + + 15 + + + + Bal. + + + 18 + + + Bal. + + 20 + + + Bal. + + + 24 + + + Bal. Bal. Bal. Bal. Bal. 2 28 + + + + + 29 + + + + + + + + + + 30 + + + + 31 + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + = = " " " " " " " " " " " " " " " " " " + + ++ + + + + + + + + ++ + ++++