The folowing information applies to the questions displeyed below Sanyu Sony sta

Question

The folowing information applies to the questions displeyed below Sanyu Sony started a new business and completed these transactions during December Dec. 1Sanyu Sony transferred $67,800 cash from a personal sevings 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 $1,300 cash for the December rent 3 The company purchased $14,000 of electrical equipment by paying $5,800 cash and agreeing to pay the $8,200 balance In 30 days 5 The compeny purchssed office supplies by paying $800 cash 6 The company completed electrical work and Immediately colected $1,500 cash for these services 8 The compeny purchssed $2,980 of office equlpment on credit 15 The company completed electrical work on credit in the amount of $8,300 8 The company purchased $480 of office supplies on credit 20 The company paid $2,980 cash for the offce equlpment 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 recelved $6,300 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 $560 cash for this month's utity bl. 31 The compeny peld $970 cash in dvidends to the owner (sole shareholder). Award: 2.85 points Required: 1. Enter the amount of each transaction on individual tems of the accounting equation. (Enter reductions to accounting balances with a minus sign.) Office Office Accounts Common S 67,800 Expenses 67,800+ 5,800 1,300 1,300 1,300 73600 800+ 1,300 800 1,300 73600 2950 1,300 MacBook Ain

Explanation / Answer

Assets Liabilities Equity Date Cash + Accounts Receivable + Office Supplies + Office Equipment + Electrical Equipment = Accounts Payable + Common Stock – Dividends + Revenues – Expenses Dec.1 $67,800.00 + + + + = + $67,800.00 – + – $1,300.00 2 -$1,300.00 + + + + = + – + – Bal. $66,500.00 + $0.00 + $0.00 + $0.00 + $0.00 = $0.00 + $67,800.00 – $0.00 + $0.00 – $1,300.00 3 -$5,800.00 + + + $14,000.00 + = $8,200.00 + – + – Bal. $60,700.00 + + + $14,000.00 + = $8,200.00 + $67,800.00 – $0.00 + $0.00 – $1,300.00 5 -$800.00 + + 800 + + = + – + – Bal. $59,900.00 + $0.00 + $800.00 + $0.00 + $14,000.00 = $8,200.00 + $67,800.00 – $0.00 + $0.00 – $1,300.00 6 $1,500.00 + + + + = + – + $1,500.00 – Bal. $61,400.00 + $0.00 + $800.00 + $0.00 + $14,000.00 = $8,200.00 + $67,800.00 – $0.00 + $1,500.00 – $1,300.00 8 + + + $2,980.00 + = $2,980.00 + – + – Bal. $61,400.00 + $0.00 + $800.00 + $2,980.00 + $14,000.00 = $11,180.00 + $67,800.00 – $0.00 + $1,500.00 – $1,300.00 15 + $6,300.00 + + + = + – + $6,300.00 – Bal. $61,400.00 + $6,300.00 + $800.00 + $2,980.00 + $14,000.00 = $11,180.00 + $67,800.00 – $0.00 + $7,800.00 – $1,300.00 18 + + $480.00 + + = $480.00 + – + – Bal. $61,400.00 + $6,300.00 + $1,280.00 + $2,980.00 + $14,000.00 = $11,660.00 + $67,800.00 – $0.00 + $7,800.00 – $1,300.00 20 -$2,980.00 + + + + = -$2,980.00 + – + – Bal. $58,420.00 + $6,300.00 + $1,280.00 + $2,980.00 + $14,000.00 = $8,680.00 + $67,800.00 – $0.00 + $7,800.00 – $1,300.00 24 + $900.00 + + + = + – + $900.00 – Bal. $58,420.00 + $7,200.00 + $1,280.00 + $2,980.00 + $14,000.00 = $8,680.00 + $67,800.00 – $0.00 + $8,700.00 – $1,300.00 28 $6,300.00 + -$6,300.00 + + + = + – + – Bal. $64,720.00 + $900.00 + $1,280.00 + $2,980.00 + $14,000.00 = $8,680.00 + $67,800.00 – $0.00 + $8,700.00 – $1,300.00 29 -$1,800.00 + + + + = + – + – 1800 Bal. $62,920.00 + $900.00 + $1,280.00 + $2,980.00 + $14,000.00 = $8,680.00 + $67,800.00 – $0.00 + $8,700.00 – $3,100.00 30 -$560.00 + + + + = + – + – 560 Bal. $62,360.00 + $900.00 + $1,280.00 + $2,980.00 + $14,000.00 = $8,680.00 + $67,800.00 – $0.00 + $8,700.00 – $3,660.00 31 -$970.00 + + + + = + – 970 + – Bal. $61,390.00 + $900.00 + $1,280.00 + $2,980.00 + $14,000.00 = $8,680.00 + $67,800.00 – $970.00 + $8,700.00 – $3,660.00 $80,550.00 $80,550.00 +

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