Question

It says answer is not completed. What am I missing ?

Required information [The following information applies to the questions displayed below.) Sanyu Sony started a new business and completed these transactions during December. Dec. 1 Sanyu Sony transferred $65,000 cash from a personal savings account to a checking account in the name of Sony Electric. 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 Sanyu Sony withdrew $950 cash from the company for personal use. 2-a. Prepare an income statement for the current month. 2-b. Prepare a statement of owner's equity for the current month. 2-c. Prepare a balance sheet as of the end of the month. 3. Prepare a statement of cash flows for the current month. Complete this question by entering your answers in the tabs below.

Answer 1

All the parts appear to be correct. Only the cash flow statement is missing some entries (text) while the calculations are correct.

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The completed cash flow statement is provided as below:

Sony Electric
Statement of Cash Flows
For the Month Ended December 31
Cash flow from operating activities
Cash received from customers	$6,200
Cash paid for rent	-1,000
Cash paid for supplies	-800
Cash paid for utilities	-540
Cash paid to employees	-1,400
Net cash provided by operating activities		$2,460
Cash flow from investing activities
Cash paid for office equipment	-2,530
Cash paid for electrical equipment	-4,800
Net cash used by investing activities		-7,330
Cash flow from financing activities
Cash investment by owner	65,000
Cash withdrawal by owner	-950
Net cash provided by financing activities		64,050
Net increase in cash		$59,180
Cash balance, Dec. 1		0
Cash balance, Dec. 31		$59,180