70.2K

Verified Solution

Link Copied!

Sanyu Sony started a new business and completed these transactions during December December 1 Sanyu Sony transferred $64,400 cash from a personal savings account to a checking account in the name of Sony Electric. December 2 The company paid $1,300 cash for the December rent. December 3 The company purchased $14,800 of electrical equipment by paying $6,600 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 $1,600 cash for these services. December 8 The company purchased $2,540 of office equipment on credit. December 15 The company completed electrical work on credit in the amount of $4,900. December 18 The company purchased $450 of supplies on credit. December 20 The company paid $2,540 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 $4,900 cash for the work completed on December 15. December 29 The company paid the assistant's salary of $1,400 cash for this month. Pecember 30 The company paid $570 cash for this month's utility bill. ecember 31 Sanyu Sony withdrew $990 cash from the company for personal use. SONY ELECTRIC Statement of Owner's Equity For Month Ended December 31 S. Sony, Capital, December 1 $ 0 0 S. Sony, Capital, December 31 $ 0

Answer & Explanation Solved by verified expert

See Answer