On October 1, 2021, Santana Rey launched a computer services company, Business Solutions, that is organized as a corporation andprovides consulting services, computer system installations, and custom program development.October 1 S. Rey invested $55,000 cash, a $27,000 computer system, and $10,000 of office equipment in the company inexchange for its common stock.October 3 The company purchased $1,330 of computer supplies on credit.October 6 The company billed Easy Leasing $5,600 for services performed in installing a new web server.October 8 The company paid $1,330 cash for the computer supplies purchased on credit on October 3.October 10 The company hired a part-time assistant.billed Easy Leasing another $2,100 for services performed.October 12 The companyOctober 15 The company received $5,600 cash from Easy Leasing as partial payment toward its account.October 17 The company paid $730 cash to repair its computer equipment.October 20 The company paid $1,673 cash for advertisements published on Facebook.October 22 The company received $2,100 cash from Easy Leasing toward its account.October 28 The company billed IFM Company $5,248 for services performed.October 31 The companypaid $1,015 cash for the assistant's wages for this month.October 31 The company paid $2,700 cash in dividends to the owner (sole shareholder).Required:Enter the amount of each transaction on individual items of the accounting equation.Note: Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data.

Name: On October 1, 2021, Santana Rey launched a computer services company,
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Description: On October 1, 2021, Santana Rey launched a computer services company, Business Solutions, that is organized as a corporation andprovides consulting services, computer system installations, and custom program development.October 1 S. Rey invested $55

Every transaction has a double impact on the books of accounts according to the dual concept of…

Answered: Required: Enter the amount of each…

Business

Accounting

Required: Enter the amount of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Enter as per the trans

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization

Section: Chapter Questions

Problem 80EDC

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