70.2K

Verified Solution

Link Copied!

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 $66,000 cash from a personal savings account to a checking account in the name of Sony Electric. December 2 The company paid $1,200 cash for the December rent. December 3 The company purchased $14,500 of electrical equipment by paying $6,300 cash and agreeing to pay the $8,200 balance in 30 days. December 5 The company purchased supplies by paying $800 cash. December 6 The company completed electrical work and immediately collected $1,900 cash for these services. December 8 The company purchased $2,640 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $4,300. December 18 The company purchased $390 of supplies on credit. December 20 The company paid $2,640 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 $4,300 cash for the work completed on December 15. December 29 The company paid the assistant's CE 18 19 supplies on credit. December 20 The company paid $2,640 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 $4,300 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,600 cash for this month December 30 The company paid $510 cash for this month's utility bill. December 31 Sanyu Sony withdrew $950 cash from the company for personal use. oblem 1-9A (Algo) Part 1 BERBER Receivable December 1 of 2 + 0 + + 0 + + 3:17:44 0 + + ped 0 + + 0 + ok + 0 + December 2 Balance after December 1 and December 2 December 3 Balance after December 3 December 5 Balance after December 5 December 6 Balance after December 6 December 8 Balance after December 8 December 15 Balance after December 15 December 18 Balance after December 18 December 20 Balance after December 20 December 24 Balance after December 24 December 28 Balance after December 28 December 29 Balance after December 29 December 30 Balance after December 30 December 31 + nt 0 + + 0 + nces + 0 + + 0 + + 0 + + 01 + + C

Answer & Explanation Solved by verified expert

See Answer