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Enter the amount of each transaction on individual items of the accounting equation, (Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data.) October 1 Odober 3 Date Balance afer Ob 1 and October 3 October 6 Balance after October October Balance after Ockor & October 12 Baance after Ociber 12 October 15 wance after October 15 Odober 17 Balance after October 17 October 20 Beace ater October 23 October 22 Baance after October 22 October 2 Balancs after October 28 October 31 Balance after Oct 31 October 31 Balance after October 31 Cash . • + • . + . ♦ Accounts Receivable • Assets Computer Supplies * Computer 10 41 Office Equipment M • Liabilities Accounts Payable + * . . . . Common Stack " Dividenda Equity . + * 4 . . . + + . . . * * ✦ . . * . . . Revenues Expenses

Enter the amount of each transaction on individual items of the accounting equation, (Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data.) October 1 Odober 3 Date Balance afer Ob 1 and October 3 October 6 Balance after October October Balance after Ockor & October 12 Baance after Ociber 12 October 15 wance after October 15 Odober 17 Balance after October 17 October 20 Beace ater October 23 October 22 Baance after October 22 October 2 Balancs after October 28 October 31 Balance after Oct 31 October 31 Balance after October 31 Cash . • + • . + . ♦ Accounts Receivable • Assets Computer Supplies * Computer 10 41 Office Equipment M • Liabilities Accounts Payable + * . . . . Common Stack " Dividenda Equity . + * 4 . . . + + . . . * * ✦ . . * . . . Revenues Expenses

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On October 1, 2021, Santana Rey launched a computer services company, Business Solutions, that is organized as a corporation and provides consulting services, computer system installations, and custom program development. October 1 S. Rey invested $50,000 cash, a $23,000 computer system, and $10,500 of office equipment in the company in exchange for its common stock. October 3 The company purchased $1,450 of computer supplies on credit. October 6 The company billed Easy Leasing $5,300 for services performed in installing a new web server. October 8 The company paid $1,450 cash for the computer supplies purchased on credit on October 3. October 10 The company hired a part-time assistant. October 12 The company billed Easy Leasing another $2,200 for services performed. October 15 The company received $5,300 cash from Easy Leasing as partial payment toward its account. October 17 The company paid $725 cash to repair its computer equipment. October 20 The company paid $1,628 cash for advertisements published on Facebook. October 22 The company received $2,200 cash from Easy Leasing toward its account. October 28 The company billed IFM Company $5,238 for services performed. October 31 The company paid $1,015 cash for the assistant's wages for this month.. October 31 The company paid $3,100 cash in dividends to the owner (sole shareholder).
Transcribed Image Text:On October 1, 2021, Santana Rey launched a computer services company, Business Solutions, that is organized as a corporation and provides consulting services, computer system installations, and custom program development. October 1 S. Rey invested $50,000 cash, a $23,000 computer system, and $10,500 of office equipment in the company in exchange for its common stock. October 3 The company purchased $1,450 of computer supplies on credit. October 6 The company billed Easy Leasing $5,300 for services performed in installing a new web server. October 8 The company paid $1,450 cash for the computer supplies purchased on credit on October 3. October 10 The company hired a part-time assistant. October 12 The company billed Easy Leasing another $2,200 for services performed. October 15 The company received $5,300 cash from Easy Leasing as partial payment toward its account. October 17 The company paid $725 cash to repair its computer equipment. October 20 The company paid $1,628 cash for advertisements published on Facebook. October 22 The company received $2,200 cash from Easy Leasing toward its account. October 28 The company billed IFM Company $5,238 for services performed. October 31 The company paid $1,015 cash for the assistant's wages for this month.. October 31 The company paid $3,100 cash in dividends to the owner (sole shareholder).
Enter the amount of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data.) Date October October 2 Balance a Ober1 and October 3 October 6 Balance after Oce October Balance after October 8 October 12 Baance after October 12 October 15 lance after October 15 October 17 Balance after October 17 October 20 Balance ater October 25 October 22 Balance afer October 22 October 28 Balance after October 2 October 311 Balance after October 31 October 31 Balance after October 31 Cash • 1.1 . Accounts Receivable [+ Computer Supplies ▸ ▸ 141 + Computer System . C • 14 Offic Equipment Libe Accounts Payable + + + + . . . + + . . . Common Stack - - - - - - - + Dividends Equity . + + + . . + + + • + . . . . + + . . Revenues - - - - Expenses
Transcribed Image Text:Enter the amount of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data.) Date October October 2 Balance a Ober1 and October 3 October 6 Balance after Oce October Balance after October 8 October 12 Baance after October 12 October 15 lance after October 15 October 17 Balance after October 17 October 20 Balance ater October 25 October 22 Balance afer October 22 October 28 Balance after October 2 October 311 Balance after October 31 October 31 Balance after October 31 Cash • 1.1 . Accounts Receivable [+ Computer Supplies ▸ ▸ 141 + Computer System . C • 14 Offic Equipment Libe Accounts Payable + + + + . . . + + . . . Common Stack - - - - - - - + Dividends Equity . + + + . . + + + • + . . . . + + . . Revenues - - - - Expenses
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