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Serial Problem Business Solutions (Algo) LO P1 On October 1, 2020, Santana Rey launched a computer...

Serial Problem Business Solutions (Algo) LO P1
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 $55,000 cash, a $30,000 computer system, and $10,000 of office equipment in the company in exchange for its common stock.
3 The company purchased $1,500 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 $1,500 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 $775 cash to repair its computer equipment.
20 The company paid $1,673 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 $5,288 for services performed.
31 The company paid $875 cash for the assistant's wages for this month.
31 The company paid $3,000 cash in dividends to the owner (sole shareholder).

Required:
Enter the amount of each transaction on individual items of the accounting equation. Show new balances after each transaction. (Enter decreases to account balances with a minus sign. Enter as per the transaction order provided in the question data.)


Check my work Assets Liabilities Equity Date Cash Accounts Receivable Computer Supplies Accounts Payable Common Stock Dividen
Check my work Assets Liabilities Equity Date Cash Accounts Receivable Computer Supplies Accounts Payable Common Stock Dividends Computer Office System Equipment $ 30,000 $ 10.000 . Ravenues Expense $ 56.000 ct 1 ct 3 1,500 1,500 al. 55.000 + 30,000+ 10,000 - ol ol 5,400 0 - 0 + -10 o. 6 + al 5.400 1,500 30,000 + 0 + 10,000 0. - O 0 cl. 8 . + 55,000 + (1.500) 53,500 - 53.500+ 5.400 1.500 30,000 10,000 - 10 -0 0 + 0 - ct 12 + TE 5.400 1,500 30,000 10.000 0 + 0- 0 - 0 ct 15 + al. 53.500 5,400 1,500 10.000 30,000 + 0- 0. 0 - ct 17 . al 53,500 - 5.400 1,500 30,000 10.000 0- 0 0 + 0- ct 20 al 5.400 53,500 30,000 1,500 + 10.000 10 + 10 -O + + 53.500 5.400 1.500 30,000 10.000 0- 0 - 0. - 0 c. 28 + . 5.400 53.500 1,500 30,000 10.000- 0+ 0 O 0 - ct 31 . + . 53,500 5.400 1.500 + 30,000 10.000 +10 0- 0. 0 - e 31 1.500 S 10.000 $ $ 30,000 53,500 $ 0 + 0 $ $ 5.400$ $ $ 0 0. $
0 0
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ReportAnswer #1
Assets = Liabilities + Equity
Date Cash + Accounts Receivable + Computer Supplies + Computer Systems + Other Equipments = Accounts Payable + Common Stock - Dividends + Revenue - Expense
Oct 1. 55000 + + + 30000 + 10000 = + 95000 - + -
Oct 3. + + 1500 + + = 1500 + - + -
Oct 6. + 5400 + + + = + - + 5400 -
Oct 8. -1500 + + + + = -1500 + - + -
Bal 53500 + 5400 + 1500 + 30000 + 10000 = 0 + 95000 - + 5400 -
Oct 12. + 1500 + + + = + - + 1500 -
Bal 53500 + 6900 + 1500 + 30000 + 10000 = + 95000 - + 6900 -
Oct 15. 5400 + -5400 + + + = + - + -
Bal 58900 + 1500 + 1500 + 30000 + 10000 = + 95000 - + 6900 -
Oct 17. -775 + + + + = + - + - 775
Bal 58125 + 1500 + 1500 + 30000 + 10000 = + 95000 - + 6900 - 775
Oct 20. -1673 + + + + = + - + - 1673
Bal 56452 + 1500 + 1500 + 30000 + 10000 = + 95000 - + 6900 - 2448
Oct 22. 1500 + -1500 + + + = + - + -
Bal.
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