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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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