Question: The chart that needs to be filled out is from dec. 1-31. Please help I am very confused! Thank you in advance! Required information [The
The chart that needs to be filled out is from dec. 1-31. Please help I am very confused! Thank you in advance!

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 $64, 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, 500 cash for the December rent. 3 The company purchased $13, 200 of electrical equipment by paying $5,000 cash and agreeing to pay the $8, 200 balance in 30 days. 5 The company purchased office supplies by paying $800 cash. 6 The company completed electrical work and immediately collected $2,000 cash for these services. 8 The company purchased $2, 660 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 office supplies on credit. 20 The company paid $2, 660 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 $500 cash for this month's utility bill. 31 The company paid $920 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 accounting balances with a minus sign.) Assets Liabilities Equity Date Cash Accounts Office Office Electrical Accounts Common + Dividends Revenues Expenses Receivable Supplies Equipment Equipment Payable Stock Dec. 1 + + = + + 2 Bal. 0 +
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
