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.1Sanyu Sony transferred $65,800 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock.2The company paid $1,800 cash for the December rent.3The company purchased $14,600 of electrical equipment by paying $6,400 cash and agreeing to pay the $8,200 balance in 30 days.5The company purchased supplies by paying $800 cash.6The company completed electrical work and immediately collected $1,800 cash for these services.8The company purchased $2,820 of office equipment on credit.15The company completed electrical work on credit in the amount of $6,400.18The company purchased $470 of supplies on credit.20The company paid $2,820 cash for the office equipment purchased on December 8.24The company billed a client $900 for electrical work completed; the balance is due in 30 days.28The company received $6,400 cash for the work completed on December 15.29The company paid the assistant's salary of $1,900 cash for this month.30The company paid $590 cash for this month's utility bill.31The company paid $920 cash in dividends to the owner (sole shareholder).

Problem 1-9A (Algo) Part 2 and 3

2-a.Prepare the income statement for the current month.

2-b.Prepare the statement of retained earnings 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.

answer question by entering your answers in the tabs below.

• Required 2A
• Required 2B
• Required 2C
• Required 3

Prepare the statement of cash flows for the current month.(Cash outflows should be indicated with a minus sign.)

SONY ELECTRIC

Statement of Cash Flows

For Month Ended December 31

Cash flows from operating activities

Cash received from customers

Cash paid for rent

Cash paid for supplies

Cash paid for utilities

Cash paid to employees

Cash flows from investing activities

Cash paid for office equipment

Cash paid for electrical equipment

Cash flows from financing activities

Cash dividend to shareholder

Cash investment from shareholder

Cash balance, Dec. 10

Cash balance, Dec. 31$