SP 1 Serial Problem Business Solutions (Algo) LO P1 On October 1, 2021, Santana Rey launched a computer services company, Business Solutions, that is organized as a corporation and provides consulting services, computer system installations, and custom program development. October 1 S. Rey invested $49,000 cash, a $28,000 computer system, and $8,500 of office equipment in the company in exchange for its common stock. October 3 The company purchased $1,460 of computer supplies on credit. October 6 The company billed Easy Leasing $4,900 for services performed in installing a new web server. October 8 The company paid $1,460 cash for the computer supplies purchased on credit on October 3. October 10 The company hired a part-time assistant. October 12 The company billed Easy Leasing another $2,000 for services performed. October 15 The company received $4,900 cash from Easy Leasing as partial payment toward its account. October 17 The company paid $775 cash to repair its computer equipment. October 20 The company paid $1,643 cash for advertisements published on Facebook. October 22 The company received $2,000 cash from Easy Leasing toward its account. October 28 The company billed IFM Company $5,243 for services performed. October 31 The company paid $910 cash for the assistant's wages for this month. October 31 The company paid $3,200 cash in dividends to the owner (sole shareholder). Required: Enter the amount of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data.)
SP 1 Serial Problem Business Solutions (Algo) LO P1 On October 1, 2021, Santana Rey launched a computer services company, Business Solutions, that is organized as a corporation and provides consulting services, computer system installations, and custom program development. October 1 S. Rey invested $49,000 cash, a $28,000 computer system, and $8,500 of office equipment in the company in exchange for its common stock. October 3 The company purchased $1,460 of computer supplies on credit. October 6 The company billed Easy Leasing $4,900 for services performed in installing a new web server. October 8 The company paid $1,460 cash for the computer supplies purchased on credit on October 3. October 10 The company hired a part-time assistant. October 12 The company billed Easy Leasing another $2,000 for services performed. October 15 The company received $4,900 cash from Easy Leasing as partial payment toward its account. October 17 The company paid $775 cash to repair its computer equipment. October 20 The company paid $1,643 cash for advertisements published on Facebook. October 22 The company received $2,000 cash from Easy Leasing toward its account. October 28 The company billed IFM Company $5,243 for services performed. October 31 The company paid $910 cash for the assistant's wages for this month. October 31 The company paid $3,200 cash in dividends to the owner (sole shareholder). Required: Enter the amount of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data.)
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 2.1C
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Enter the amount of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data.)
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