lem 18A Part 2 Question 1 fof t The following information ap

lem 1-8A: Part 2 Question 1 fof t) /The following information applies to the questions displayed below] Heiga Ander started a new business nd compieted these transactions during December. Dec. 1 Helga Ander transferred $65,000 cash from a personal savings account to a checking account in the name of Ander Electric in exchange for its common stock 2 The company rented office space and paid $1,000 cash for the December rent 3 The company purchased $13,000 of electrical equipment by paying $4,800 cash and agreeing to pay the $8,200 balance in 30 days. 5 The company purchased office supplies by paying $800 cash. 6 The company completed electrical work and immediately collected $1.200 cash for these services 8 The company purchased $2,530 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $5.000 18 The company purchased $350 of office supplies on credit 20 The company paid $2.530 cash for the office equipment purchased on December 8 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days 28 The company received $5.000 cash for the work completed on December 15 29 The company paid the assistant\'s salary of $1.400 cash for this month. 30 The company paid $540 cash for this month\'s utility bill. 31 The company paid $950 cash in dividends to the owner (sole shareholden.

Solution

Date Cash + Accounts Receivable + Office Suplies + Office Equipment + Electrical Equipment = Accouns payable + Common Stock - Dividend + Revenues - Expenses 01-Dec 65000 65000 0 02-Dec 1000 -1000 Balance 64000 65000 0 -1000 03-Dec 4800 13000 Balance 59200 13000 65000 0 -1000 05-Dec 800 800 Balance 58400 0 800 0 13000 8200 65000 0 0 -1000 06-Dec 1200 1200 Balance 59600 13000 8200 65000 0 1200 -1000 08-Dec 2350 2530 Balance 59600 800 2350 13000 10730 65000 0 1200 -1000 15-Dec 5000 5000 Balance 59600 0 -5000 800 2350 13000 10730 65000 0 6200 -1000 18-Dec 350 350 Balance 59600 5000 1150 2350 13000 11080 65000 0 6200 -1000 20-Dec 2530 2530 Balance 57070 5000 1150 2350 13000 8550 65000 0 -1000 24-Dec 900 900 Balance 57070 5900 1150 2350 13000 8550 65000 0 7100 -1000 28-Dec 5000 5000 Balance 62070 900 1150 2350 13000 8550 65000 0 7100 -1000 29-Dec 1400 -1400 Balance 60670 900 1150 2350 13000 8550 65000 0 7100 -2400 30-Dec 540 -540 Balance 60130 900 1150 2350 13000 8550 65000 0 7100 -2940 31-Dec 950 950 Balance 59180 900 1150 2350 13000 8550 65000 950 7100 -2940