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. es October 1 S. Rey invested $48,000 cash, a $26,000 computer system, and $12,000 of office equipment in the company in exchange for its common stock. October 3 The company purchased $1,440 of computer supplies on credit. October 6 The company billed Easy Leasing $5,000 for services performed in installing a new web server. October 8 The company paid $1,440 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 $2,300 for services performed. * October 15 The company received $5,000 cash from Easy Leasing as partial payment toward its account. October 17 The company paid $790 cash to repair its computer equipment. October 20 The company paid $1,648 cash for advertisements published on Facebook. October 22 The company received $2,300 cash from Easy Leasing toward its account. October 28 The company billed IFM Company $5,293 for services performed. October 31 The company paid $875 cash for the assistant's wages for this month. October 31 The company paid $2,900 cash in dividends to the owner (sole shareholder).
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. es October 1 S. Rey invested $48,000 cash, a $26,000 computer system, and $12,000 of office equipment in the company in exchange for its common stock. October 3 The company purchased $1,440 of computer supplies on credit. October 6 The company billed Easy Leasing $5,000 for services performed in installing a new web server. October 8 The company paid $1,440 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 $2,300 for services performed. * October 15 The company received $5,000 cash from Easy Leasing as partial payment toward its account. October 17 The company paid $790 cash to repair its computer equipment. October 20 The company paid $1,648 cash for advertisements published on Facebook. October 22 The company received $2,300 cash from Easy Leasing toward its account. October 28 The company billed IFM Company $5,293 for services performed. October 31 The company paid $875 cash for the assistant's wages for this month. October 31 The company paid $2,900 cash in dividends to the owner (sole shareholder).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Every blank needs to be filled please including revenues and expenses cut out the photo, thank you!
Transcribed Image Text:October 1
October 3
Balance after October 1 and October 3
October 6
Balance after October 6
October 8
Balance after October 8
October 12
Balance after October 12
October 15
Balance after October 15
October 17
Balance after October 17
October 20
Balance after October 20
October 22
Balance after October 22
October 28
Balance after October 28
October 31
Balance after October 31
FI
Date
2
F2
80
F3
888
$
42
Cash
F4
0
0+
0
2
%
4
65
H
0+
+
+
+
Accounts
Receivable
+
0+
+
FS
0+
0 +
0
24
0+
Prev
+
0 +
96
4
Assets
Computer
Supplies
1 of 4
F6
0
&
7
0
0
MacBook Air
=
+
0+
1460
20
+
2
F7
Computer
System
Next >
0
8
0
▶R
0
0 +
0+
0+
+
+
+
0+
240
+
+
20
F8
Office
Equipment
9
0
0
0
0
0
0
11 11
0=
0
I
11
11
11
11
1
O
Liabilities
Accounts
Payable
0
0
0 +
+
+
+
0 +
0 +
F10
0 +
0 +
0 +
+
0+
+
+
+
+
-
M
H
+
P
Common
Stock
0
0
1
F11
0
0
0
1
1
1
0
1
1
0
I
0-
1
1
0
{
1
0
Dividends
0
0
0
F12
0
0
0
0
0
C15
delete
Transcribed Image Text:SP 1 Serial Problem Business Solutions (Algo) LO P1
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 $48,000 cash, a $26,000 computer system, and $12,000 of office equipment in the company in
exchange for its common stock.
Mc
October 3 The company purchased $1,440 of computer supplies on credit.
October 6 The company billed Easy Leasing $5,000 for services performed in installing a new web server.
October 8 The company paid $1,440 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 $2,300 for services performed.
October 15 The company received $5,000 cash from Easy Leasing as partial payment toward its account.
October 17 The company paid $790 cash to repair its computer equipment.
October 20 The company paid $1,648 cash for advertisements published on Facebook.
October 22 The company received $2,300 cash from Easy Leasing toward its account.
October 28 The company billed IFM Company $5,293 for services performed.
October 31 The company paid $875 cash for the assistant's wages for this month.
October 31 The company paid $2,900 cash in dividends to the owner (sole shareholder).
Required:
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 1
October 3
Balance after October 1 and October 3
October 6
Balance after October 6
October 8
Cash
WORDECERIAA
20
+
Accounts
Receivable
Prev
20
+
+
Assets
Computer
Supplies
1 of 4
0+
MacBook Air
+
+
0 +
+
+
F
Computer
System
Next >
0+
4.4
0+
F8
Office
Equipment
0
11
F9
Liabilities
Accounts
Payable
0+
F10
Common
Stock
0
F11
0
Dividends
0
F12
0
VIE
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 2 steps with 1 images
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
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education