account in the name of Sony Electric in exchange for its common stock. 2 The company paid $1,800 cash for the December rent. 3 The company purchased $14,200 of electrical equipment by paying $6,000 cash and agreeing to pay the $8,200 balance in 30 days.
account in the name of Sony Electric in exchange for its common stock. 2 The company paid $1,800 cash for the December rent. 3 The company purchased $14,200 of electrical equipment by paying $6,000 cash and agreeing to pay the $8,200 balance in 30 days.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question

Transcribed Image Text:1 Sanyu Sony transferred $65,300 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 paid $1,800 cash for the December rent.
3 The company purchased $14,200 of electrical equipment by paying $6,000 cash and
agreeing to pay the $8,200 balance in 30 days.
Dec.

Transcribed Image Text:Assets
Liabilities
Equity
Accounts
Office
Electrical
Accounts
Common
Date
Cash
+
Receivable
Dividends
Revenues
Expe
+
Supplies
Equipment
Equipment
Payable
Stock
Dec.
1
+
+
+
+
+
%3D
2
+
+
+
%3D
Bal.
0 +
0 +
0 +
+
+
+
+
II
II
II
+
+
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