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Problem 1-9A Analyzing transactions and preparing financial statements LO C4, P1, P2

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Sanyu Sony started a new business and completed these transactions during December.

Dec.		1		Sanyu Sony transferred $69,100 cash from a personal savings account to a checking account in the name of Sony Electric.
		2		The company rented office space and paid $1,200 cash for the December rent.
		3		The company purchased $14,600 of electrical equipment by paying $6,400 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 $1,600 cash for these services.
		8		The company purchased $2,900 of office equipment on credit.
		15		The company completed electrical work on credit in the amount of $4,800.
		18		The company purchased $470 of office supplies on credit.
		20		The company paid $2,900 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 $4,800 cash for the work completed on December 15.
		29		The company paid the assistants salary of $1,400 cash for this month.
		30		The company paid $540 cash for this months utility bill.
		31		Sanyu Sony withdrew $970 cash from the company for personal use.

Problem 1-9A Part 2 and 3

2.1. Prepare an income statement for the current month.

2.2. Prepare a statement of owner's equity for the current month.

2.3. Prepare a balance sheet as of the end of the month.

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