Required Create a table like the one in Exhibit 1.9 using the following headings for columns: Cash; Accounts Receivable; Computer Supplies; Computer System; Office Equipment; Accounts Payable; S. Rey, Capital; S. Rey, Withdrawals; Revenues; and Expenses. Then use additions and subtractions within the table to show the dollar effects for each of the following October transactions for Business Solutions on the indi- vidual items of the accounting equation. Show new balances after each transaction. Oct. 1 S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company. 3 The company purchased $1,420 of computer supplies on credit from Harris Office Products. 6 The company billed Easy Leasing $4,800 for services performed in installing a new web server. 8 The company paid $1,420 cash for the computer supplies purchased from Harris Office Prod- ucts on October 3. 10 The company hired Lyn Addie as a part-time assistant for $125 per day, as needed. 12 The company billed Easy Leasing another $1,400 for services performed. 15 The company received $4,800 cash from Easy Leasing as partial payment toward its account. 17 The company paid $805 cash to repair computer equipment damaged when moving it. 20 The company paid $1,728 cash for advertisements published in the local newspaper. 22 The company received $1,400 cash from Easy Leasing toward its account. The company billed IFM Company $5,208 for services performed. The company paid $875 cash for Lyn Addie's wages for seven days of work this month. 31 28 31 S. Rey withdrew $3,600 cash from the company for personal use.
Required Create a table like the one in Exhibit 1.9 using the following headings for columns: Cash; Accounts Receivable; Computer Supplies; Computer System; Office Equipment; Accounts Payable; S. Rey, Capital; S. Rey, Withdrawals; Revenues; and Expenses. Then use additions and subtractions within the table to show the dollar effects for each of the following October transactions for Business Solutions on the indi- vidual items of the accounting equation. Show new balances after each transaction. Oct. 1 S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company. 3 The company purchased $1,420 of computer supplies on credit from Harris Office Products. 6 The company billed Easy Leasing $4,800 for services performed in installing a new web server. 8 The company paid $1,420 cash for the computer supplies purchased from Harris Office Prod- ucts on October 3. 10 The company hired Lyn Addie as a part-time assistant for $125 per day, as needed. 12 The company billed Easy Leasing another $1,400 for services performed. 15 The company received $4,800 cash from Easy Leasing as partial payment toward its account. 17 The company paid $805 cash to repair computer equipment damaged when moving it. 20 The company paid $1,728 cash for advertisements published in the local newspaper. 22 The company received $1,400 cash from Easy Leasing toward its account. The company billed IFM Company $5,208 for services performed. The company paid $875 cash for Lyn Addie's wages for seven days of work this month. 31 28 31 S. Rey withdrew $3,600 cash from the company for personal use.
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 4EB: For each of the following transactions, state which special journal (Sales Journal, Cash Receipts...
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Question
On October 1, 2019, Santana Rey launched a computer services company, Business Solutions, that is organized as a proprietorship and provides consulting services, computer system installations, and custom program development.
Transcribed Image Text:Required
Create a table like the one in Exhibit 1.9 using the following headings for columns: Cash; Accounts
Receivable; Computer Supplies; Computer System; Office Equipment; Accounts Payable; S. Rey, Capital;
S. Rey, Withdrawals; Revenues; and Expenses. Then use additions and subtractions within the table to
show the dollar effects for each of the following October transactions for Business Solutions on the indi-
vidual items of the accounting equation. Show new balances after each transaction.
Oct. 1 S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in
the company.
3 The company purchased $1,420 of computer supplies on credit from Harris Office Products.
6 The company billed Easy Leasing $4,800 for services performed in installing a new web server.
8 The company paid $1,420 cash for the computer supplies purchased from Harris Office Prod-
ucts on October 3.
10 The company hired Lyn Addie as a part-time assistant for $125 per day, as needed.
12 The company billed Easy Leasing another $1,400 for services performed.
15 The company received $4,800 cash from Easy Leasing as partial payment toward its account.
17
The company paid $805 cash to repair computer equipment damaged when moving it.
20
The company paid $1,728 cash for advertisements published in the local newspaper.
22
The company received $1,400 cash from Easy Leasing toward its account.
The company billed IFM Company $5,208 for services performed.
The company paid $875 cash for Lyn Addie's wages for seven days of work this month.
31
28
31
S. Rey withdrew $3,600 cash from the company for personal use.
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