On October 1, 2019 Santana Rey launched a computer services company, business solutions that is organized as a proprietor ship and provides consulting services, computer system installations, and custom program development. create a table using the following headlines for columns cash accounts receivable computer supplies computer system office equipment accounts payable S. Ray, capital; S. Ray with draws revenues; and expenses. Then use addition and subtraction's within the table to show the dollar affects for each of the following October transactions for business solutions on the individual items of the accounting equation. Show new balances after each transaction. October.  1. S. Rey invested $45,000 cash a $20,000 computer system in an $8000 of office equipment in the company. 3. The company purchased $1420 of computer supplies on credit from Harris office products. 6. The company build easy leasing $4800 for services performed in installing a new Web server. 8. The company paid $1420 cash for the computer supplies purchase from Harris office products on October 3. 10. The company hired Lynn Adi as a part-time assistant for $125 per day as needed. 12. The company build easy leasing another $1400 for services performed 15. The company received $4800 cash from easy leasing as partial payment towards its account. 17. The company paid $805 cash to repair computer equipment damage when moving it. 20. The company paid $1728 cash for advertisement published in the local newspaper. 22. The company received $1400 cash from easy leasing towards its account. 28. The company build IFM company $5208 for services performed 31. The company paid $875 cash for Lynn Adi's wages for seven days of work this month. 31. S. Ray with Drew $3600 cash from the Company for personal use.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%

On October 1, 2019 Santana Rey launched a computer services company, business solutions that is organized as a proprietor ship and provides consulting services, computer system installations, and custom program development.

create a table using the following headlines for columns cash accounts receivable computer supplies computer system office equipment accounts payable S. Ray, capital; S. Ray with draws revenues; and expenses. Then use addition and subtraction's within the table to show the dollar affects for each of the following October transactions for business solutions on the individual items of the accounting equation. Show new balances after each transaction.

October.  1. S. Rey invested $45,000 cash a $20,000 computer system in an $8000 of office equipment in the company.

3. The company purchased $1420 of computer supplies on credit from Harris office products.

6. The company build easy leasing $4800 for services performed in installing a new Web server.

8. The company paid $1420 cash for the computer supplies purchase from Harris office products on October 3.

10. The company hired Lynn Adi as a part-time assistant for $125 per day as needed.

12. The company build easy leasing another $1400 for services performed

15. The company received $4800 cash from easy leasing as partial payment towards its account.

17. The company paid $805 cash to repair computer equipment damage when moving it.

20. The company paid $1728 cash for advertisement published in the local newspaper.

22. The company received $1400 cash from easy leasing towards its account.

28. The company build IFM company $5208 for services performed

31. The company paid $875 cash for Lynn Adi's wages for seven days of work this month.

31. S. Ray with Drew $3600 cash from the Company for personal use.

ending balances: cash, $42,772; revenues, $11,408; expenses, $3408.

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Personal Financial Statements
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.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education