On October 1, 2020, 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. Oct. 1 S. Rey invested $49,000 cash, a $21,000 computer system, and $9,500 of office equipment in the company in exchange for its common stock. 3 The company purchased $1,320 of computer supplies on credit. 6 The company billed Easy Leasing $5,400 for services performed in installing a new web server. 8 The company paid $1,320 cash for the computer supplies purchased on credit on October 3. 10 The company hired a part-time assistant. 12 The company billed Easy Leasing another $1,500 for services performed. 15 The company received $5,400 cash from Easy Leasing as partial payment toward its account. 17 The company paid $770 cash to repair its computer equipment. 20 The company paid $1,643 cash for advertisements published on Facebook. 22 The company received $1,500 cash from Easy Leasing toward its account. 28 The company billed IFM Company $5,303 for services performed. 31 The company paid $980 cash for the assistant's wages for this month. 31 The company paid $2,800 cash in dividends to the owner (sole shareholder).
On October 1, 2020, 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. Oct. 1 S. Rey invested $49,000 cash, a $21,000 computer system, and $9,500 of office equipment in the company in exchange for its common stock. 3 The company purchased $1,320 of computer supplies on credit. 6 The company billed Easy Leasing $5,400 for services performed in installing a new web server. 8 The company paid $1,320 cash for the computer supplies purchased on credit on October 3. 10 The company hired a part-time assistant. 12 The company billed Easy Leasing another $1,500 for services performed. 15 The company received $5,400 cash from Easy Leasing as partial payment toward its account. 17 The company paid $770 cash to repair its computer equipment. 20 The company paid $1,643 cash for advertisements published on Facebook. 22 The company received $1,500 cash from Easy Leasing toward its account. 28 The company billed IFM Company $5,303 for services performed. 31 The company paid $980 cash for the assistant's wages for this month. 31 The company paid $2,800 cash in dividends to the owner (sole shareholder).
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...
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Required: Enter the amount of each transaction on individual items of the
Transcribed Image Text:Assets
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Oct. 20
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Oct. 22
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Oct. 28
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Transcribed Image Text:On October 1, 2020, 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.
Oct. 1 s. Rey invested $49,000 cash, a $21,000 computer system, and $9,500 of office equipment in the company in exchange for its
common stock.
3 The company purchased $1, 320 of computer supplies on credit.
6 The company billed Easy Leasing $5,400 for services performed in installing a new web server.
8 The company paid $1,320 cash for the computer supplies purchased credit on October 3.
10 The company hired a part-time assistant.
12 The company billed Easy Leasing another $1,500 for services performed.
15 The company received $5,400 cash from Easy Leasing as partial payment toward its account.
17 The company paid $770 cash to repair its computer equipment.
20 The company paid $1,643 cash for advertisements published on Facebook.
22 The company received $1,500 cash from Easy Leasing toward its account.
28 The company billed IFM Company $5,303 for services performed.
31 The company paid $980 cash for the assistant's wages for this month.
31 The company paid $2,800 cash in dividends to the owner (sole shareholder).
on
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