Brlan Aloan opens a web consulting business called Comic Stand and completes the following transactions...
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Brlan Aloan opens a web consulting business called Comic Stand and completes the following transactions In Its first month of Prepare journal entries for each transaction and Identify the financial statement Impact of each entry. The financial statements are automatically generated based on the Journal entries recorded. Apr 1 Aloan invested $113,689 cash along with office equipment valued at $31,580 in the company Ap 2 The conpany prepaid $15,689 cash for twelve nonths' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts Apr. 3 The company made credit purchases for $9,189 in office equipment and $4,798 in office supplies. Payment is due within 18 days Apr 6 The conpany completed services for a client and inmediately received $7,388 cash Apr. 9 The company completed a $11,58e project for a client, who must pay within 3 days Apr. 13 The company paid $13,888 cash to settle the account payable created on April 3 Apr. 19 The conpany paid $5,849 cash for the prenium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts Apr. 22 The company received $6,989 cash as partial payment for the work completed on April 9 Apr 25 The conpany completed work for another client for $5,8e on credit Ap 28 Aloan withdrew $5,888 cash from the company for personal use Apr. 29 The conpany purchased $1,788 of additional office supplies on credit Apr. 3 The company paid $2,589 cash for this month's utility bill General Trial Balance Statement Requirement General ournal St OwnersBalance Sheet FS Impact Equity Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of the Comic Stand Company, entering the debits before the credits. Each transaction will automatically be posted to the General Ledger and the Trial Balance as soon as you click "Record Entry". ew transaction lst Journal entry worksheet 12356 78 12 Apr1) Aloan invested $113,000 cash along with office equipment valued at $31,500 in the company. Note: Enter debits before credits. Apr 01 Record entry Clear entry Mew general journal Brlan Aloan opens a web consulting business called Comic Stand and completes the following transactions In Its first month of Prepare Jounal entries for each transaction and Identify the financlal statement Impact of each entry. The financial statements are automatically generated based on the Journal entrles recorded Apr 1 Aloan invested $113,689 cash along with office equipment valued at $31,580 in the company Ap 2 The conpany prepaid $15,689 cash for twelve nonths' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts Apr. 3 The company made credit purchases for $9,189 in office equipment and $4,798 in office supplies. Payment is due within 18 days Apr 6 The conpany completed services for a client and inmediately received $7,388 cash Apr. 9 The company completed a $11,58e project for a client, who must pay within 3 days Apr. 13 The company paid $13,888 cash to settle the account payable created on April 3 Apr. 19 The conpany paid $5,849 cash for the prenium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts Apr. 22 The company received $6,989 cash as partial payment for the work completed on April 9 Apr 25 The conpany completed work for another client for $5,8e on credit Ap 28 Aloan withdrew $5,888 cash from the company for personal use Apr. 29 The conpany purchased $1,788 of additional office supplies on credit Apr. 3 The company paid $2,589 cash for this month's utility bill Requirement General ournal General Trial BalanceStatement St Owners Balance Sheet Fs Impact Equity The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance (indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Dates: Apr 01 to: Apr 30 Stand C Trial Balance April 30, 2017 Account Title Debit Credit Total Brlan Aloan opens a web consulting business called Comic Stand and completes the following transactions In Its first month of Prepare journal entries for each transaction and Identify the financial statement Impact of each entry The financial statements are automatically generated based on the Journal entries recorded. Apr 1 Aloan invested $113,689 cash along with office equipment valued at $31,580 in the company Ap 2 The conpany prepaid $15,689 cash for twelve nonths' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts Apr. 3 The company made credit purchases for $9,189 in office equipment and $4,798 in office supplies. Payment is due within 18 days Ap 6 The company completed services for a client and imediately received $7,388 cash. Apr. 9 The company completed a $11,58e project for a client, who must pay within 3 days Apr. 13 The company paid $13,888 cash to settle the account payable created on April 3 Apr. 19 The conpany paid $5,849 cash for the prenium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts Apr. 22 The company received $6,989 cash as partial payment for the work completed on April 9 Apr 25 The conpany completed work for another client for $5,8e on credit Ap 28 Aloan withdrew $5,888 cash from the company for personal use Apr. 29 The conpany purchased $1,788 of additional office supplies on credit Apr. 3 The conpany paid $2,589 cash for this month's utility bill Requirement General ournal General St Owners Balance Sheet Equity Trial Balance Statement An income statement reports the changes in equity attributable to the operation of the business during a specific time period. Revenues increase equity, and expenses decrease equity. Income Statement For Month ended April 30, 2017 Services revenue Expenses Utilities expense Net income Net income or loss is transferred from the income statement to the: Trial Balance St Owners Equity > Brlan Aloan opens a web consulting business called Comic Stand and completes the following transactions In Its first month of Prepare Jounal entries for each transaction and Identify the financlal statement Impact of each entry. The financial statements are automatically generated based on the Journal entries recordec. Apr 1 Aloan invested $113,689 cash along with office equipment valued at $31,580 in the company Ap 2 The conpany prepaid $15,689 cash for twelve nonths' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts Apr. 3 The company made credit purchases for $9,189 in office equipment and $4,798 in office supplies. Payment is due within 18 days Apr 6 The conpany completed services for a client and inmediately received $7,388 cash Apr. 9 The company completed a $11,58e project for a client, who must pay within 3 days Apr. 13 The company paid $13,888 cash to settle the account payable created on April 3 Apr. 19 The conpany paid $5,849 cash for the prenium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts Apr. 22 The company received $6,989 cash as partial payment for the work completed on April 9 Apr 25 The conpany completed work for another client for $5,8e on credit Ap 28 Aloan withdrew $5,888 cash from the company for personal use Apr. 29 The company purchased $1,788 of additional office supplies on credit. Apr. 3 The company paid $2,589 cash for this month's utility bill. General Trial Balance Statement Requirement General ournal St Owners Balance Sheet FS Impact Equity There are four subsets of equity: Investments by owners, withdrawals by owners, revenues and expenses. All four subsets are compiled in the Capital account at the end of the period. The ending capital balance is transferred to the equity section of the balance sheet. Statement of Owner's Equity For Month ended April 30, 2017 B. Aloan, Capital April 1, 2017 Add: Net income Less: Withdrawals by owner B. Aloan, Capital, April 30, 2017 Ending capital is transferred to the:
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