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. December 1 Sanyu Sony transferred $68,700 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. December 2 The company paid $1,600 cash for the December rent. December 3 The company purchased $13,300 of electrical equipment by paying $5,100 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $900 cash. December 6 The company completed electrical work and immediately collected $1,300 cash for these services. December 8 The company purchased $2,950 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $5,800. December 18 The company purchased $430 of supplies on credit. December 20 The company paid $2,950 cash for the office equipment purchased on December 8. December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. December 28 The company received $5,800 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,800 cash for this month. December 30 The company paid $540 cash for this month's utility bill. December 31 The company paid $960 cash in dividends to the owner (sole shareholder). Problem 1-9A (Algo) Part 1 Required: 1. Enter the amount of each transaction on individual items of the accounting equation. Note: Enter reductions to account balances with a minus sign.
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. December 1 Sanyu Sony transferred $68,700 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. December 2 The company paid $1,600 cash for the December rent. December 3 The company purchased $13,300 of electrical equipment by paying $5,100 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $900 cash. December 6 The company completed electrical work and immediately collected $1,300 cash for these services. December 8 The company purchased $2,950 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $5,800. December 18 The company purchased $430 of supplies on credit. December 20 The company paid $2,950 cash for the office equipment purchased on December 8. December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. December 28 The company received $5,800 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,800 cash for this month. December 30 The company paid $540 cash for this month's utility bill. December 31 The company paid $960 cash in dividends to the owner (sole shareholder). Problem 1-9A (Algo) Part 1 Required: 1. Enter the amount of each transaction on individual items of the accounting equation. Note: Enter reductions to account balances with a minus sign.
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 5PA: Inner Resources Company started its business on April 1, 2019. The following transactions occurred...
Related questions
Topic Video
Question
![!
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.
December 1 Sanyu Sony transferred $68,700 cash from a personal savings account to a checking account in the
name of Sony Electric in exchange for its common stock.
December 2 The company paid $1,600 cash for the December rent.
December 3 The company purchased $13,300 of electrical equipment by paying $5,100 cash and agreeing to pay
the $8,200 balance in 30 days.
December 5 The company purchased supplies by paying $900 cash.
December 6 The company completed electrical work and immediately collected $1,300 cash for these services.
December 8 The company purchased $2,950 of office equipment on credit.
December 15 The company completed electrical work on credit in the amount of $5,800.
December 18 The company purchased $430 of supplies on credit.
December 20 The company paid $2,950 cash for the office equipment purchased on December 8.
December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days.
December 28 The company received $5,800 cash for the work completed on December 15.
December 29 The company paid the assistant's salary of $1,800 cash for this month.
December 30 The company paid $540 cash for this month's utility bill.
December 31 The company paid $960 cash in dividends to the owner (sole shareholder).
Problem 1-9A (Algo) Part 1
Required:
1. Enter the amount of each transaction on individual items of the accounting equation.
Note: Enter reductions to account balances with a minus sign.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1c36d334-d677-4a5a-b7b0-2a7b69cecd25%2Ffa00d543-e83a-4219-9488-83be686b02c1%2F8mc81olj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
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.
December 1 Sanyu Sony transferred $68,700 cash from a personal savings account to a checking account in the
name of Sony Electric in exchange for its common stock.
December 2 The company paid $1,600 cash for the December rent.
December 3 The company purchased $13,300 of electrical equipment by paying $5,100 cash and agreeing to pay
the $8,200 balance in 30 days.
December 5 The company purchased supplies by paying $900 cash.
December 6 The company completed electrical work and immediately collected $1,300 cash for these services.
December 8 The company purchased $2,950 of office equipment on credit.
December 15 The company completed electrical work on credit in the amount of $5,800.
December 18 The company purchased $430 of supplies on credit.
December 20 The company paid $2,950 cash for the office equipment purchased on December 8.
December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days.
December 28 The company received $5,800 cash for the work completed on December 15.
December 29 The company paid the assistant's salary of $1,800 cash for this month.
December 30 The company paid $540 cash for this month's utility bill.
December 31 The company paid $960 cash in dividends to the owner (sole shareholder).
Problem 1-9A (Algo) Part 1
Required:
1. Enter the amount of each transaction on individual items of the accounting equation.
Note: Enter reductions to account balances with a minus sign.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage