[The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. 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. 5 The company purchased supplies by paying $1,000 cash. 6 The company completed electrical work and immediately collected $1,800 cash for these services. 8 The company purchased $2,820 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $5,500. 18 The company purchased $450 of supplies on credit. 20 The company paid $2, 820 cash for the office equipment purchased on December 8. 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. 28 The company received $5,500 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,300 cash for this month. 30 The company paid $550 cash for this month's utility bill. 31 The company paid $980 cash in dividends to the owner (sole shareholder). Dec.
[The following information applies to the questions displayed below.] Sanyu Sony started a new business and completed these transactions during December. 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. 5 The company purchased supplies by paying $1,000 cash. 6 The company completed electrical work and immediately collected $1,800 cash for these services. 8 The company purchased $2,820 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $5,500. 18 The company purchased $450 of supplies on credit. 20 The company paid $2, 820 cash for the office equipment purchased on December 8. 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. 28 The company received $5,500 cash for the work completed on December 15. 29 The company paid the assistant's salary of $1,300 cash for this month. 30 The company paid $550 cash for this month's utility bill. 31 The company paid $980 cash in dividends to the owner (sole shareholder). Dec.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Required 2A Required 2B
Required 20
Required 3
Prepare the income statement for the current month.
SONY ELECTRIC
Income Statement
For Month Ended December 31
Revenues
Total Revenues
Expenses
Total expenses
$
< Required 2A
![[The following information applies to the questions displayed below.]
Sanyu Sony started a new business and completed these transactions during December.
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.
5 The company purchased supplies by paying $1,000 cash.
6 The company completed electrical work and immediately collected $1,800 cash for these services.
8 The company purchased $2,820 of office equipment on credit.
15 The company completed electrical work on credit in the amount of $5,500.
18 The company purchased $450 of supplies on credit.
20 The company paid $2,820 cash for the office equipment purchased on December 8.
24 The company billed a client $900 for electrical work completed; the balance is due in 30 days.
28 The company received $5,500 cash for the work completed on December 15.
29 The company paid the assistant's salary of $1,300 cash for this month.
30 The company paid $550 cash for this month's utility bill.
31 The company paid $980 cash in dividends to the owner (sole shareholder).
Dec.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fccb668bc-10a4-4aaf-a388-7b2b8ddb3a25%2F3f378a88-90ec-4e16-b077-ba22d8e0904e%2F5jeu77n_processed.png&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
Sanyu Sony started a new business and completed these transactions during December.
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.
5 The company purchased supplies by paying $1,000 cash.
6 The company completed electrical work and immediately collected $1,800 cash for these services.
8 The company purchased $2,820 of office equipment on credit.
15 The company completed electrical work on credit in the amount of $5,500.
18 The company purchased $450 of supplies on credit.
20 The company paid $2,820 cash for the office equipment purchased on December 8.
24 The company billed a client $900 for electrical work completed; the balance is due in 30 days.
28 The company received $5,500 cash for the work completed on December 15.
29 The company paid the assistant's salary of $1,300 cash for this month.
30 The company paid $550 cash for this month's utility bill.
31 The company paid $980 cash in dividends to the owner (sole shareholder).
Dec.
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