1 Ken Hughes opens a web consulting business called Security First and completes the following transactions in its first month of operations. 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. 01:01:39 Print days. Apr. 1 Hughes invested $149,eee cash along with office equipment valued at $3.500 in the company in exchange for common stock. Apn. 2 The company prepaid $22,800 cash for 12 months rent for office space. The company's policy is to record prepaid expenses in balance sheet accounts. Apr. 3 The company made credit purchases for $10 30 in office equipment and 35 see in office supplies. Payment is due within 10 Apr . 6 The company completed services for a client and immediately received $10,90 cash. . 9 The company completed a $12,5e project for a client, who must pay within 30 days. Apr. 13 The company paid $16, 280 cash to settle the account payable created on April Apr. 19 The The company paid $7,92e cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. Apr. 22. The company received $10, see cash as partial payment for the work completed on April 9. Apr. 25 The company completed work for another client for $6 200 on credit, Apr. 28 The company paid $6, 2ee cash in dividends Apr. 29 The company purchased $2.9ee of additional office supplies on credit. Apr. 30 The company paid $3,300 cash for this month's utility bill, Requirement General Jouma General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet FS Impact The financial statements report the cumulative impact of all transactions recorded as of the financial statement date. Input the cumulative amount of a) Net Income (Loss), b) Total Assets, c) Total Liabilities, and d) Total Equity that would be reported on the financial statements immediately after each transaction is recorded. (Hint: You can check your work by selecting the date on the trial balance tab.) The first two transactions are completed for you! Show less Transaction Net Income Total Assets Total Liabilities Total Equity S OS 188,500 $ ols 188.500 0 180.500 0 188,500 Where can you go to find each of your answers? Apr. 1 Hughes invested $149,000 cash along with orice equipment valued at $37,500 in the company in exchange for common stock Apr. 2 The company prepaid $22.800 cash for 12 months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. Apr. 3 The company made credit purchases for $10,300 in office equipment and $6.900 in office supplies. Payment is due within 10 days Apr. The company completed a $10,000 project for a client, who must pay within 30 days. Apr. The company completed a $17500 project for a client, who must pay within 30 days Apr 13 The company paid $16.200 cash to settle the account payable created on April 3. Apr 19 The company paid $7.920 cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. Apr. 22 The company received $10,500 cash as partial payment for the work completed on April 9, Apr. 25 The company completed work for another client for $6,200 on credit. Apr. 28 The company paid $6,200 cash in dividends. Apr. 29 The company purchased $2,900 of additional office supplies on credit Apr. 30 The company paid $3,300 cash for this month's utility bill 10 Taw H 1 Ken Hughes opens a web consulting business called Security First and completes the following transactions in its first month of operations. 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. 01:01:39 Print days. Apr. 1 Hughes invested $149,eee cash along with office equipment valued at $3.500 in the company in exchange for common stock. Apn. 2 The company prepaid $22,800 cash for 12 months rent for office space. The company's policy is to record prepaid expenses in balance sheet accounts. Apr. 3 The company made credit purchases for $10 30 in office equipment and 35 see in office supplies. Payment is due within 10 Apr . 6 The company completed services for a client and immediately received $10,90 cash. . 9 The company completed a $12,5e project for a client, who must pay within 30 days. Apr. 13 The company paid $16, 280 cash to settle the account payable created on April Apr. 19 The The company paid $7,92e cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. Apr. 22. The company received $10, see cash as partial payment for the work completed on April 9. Apr. 25 The company completed work for another client for $6 200 on credit, Apr. 28 The company paid $6, 2ee cash in dividends Apr. 29 The company purchased $2.9ee of additional office supplies on credit. Apr. 30 The company paid $3,300 cash for this month's utility bill, Requirement General Jouma General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet FS Impact The financial statements report the cumulative impact of all transactions recorded as of the financial statement date. Input the cumulative amount of a) Net Income (Loss), b) Total Assets, c) Total Liabilities, and d) Total Equity that would be reported on the financial statements immediately after each transaction is recorded. (Hint: You can check your work by selecting the date on the trial balance tab.) The first two transactions are completed for you! Show less Transaction Net Income Total Assets Total Liabilities Total Equity S OS 188,500 $ ols 188.500 0 180.500 0 188,500 Where can you go to find each of your answers? Apr. 1 Hughes invested $149,000 cash along with orice equipment valued at $37,500 in the company in exchange for common stock Apr. 2 The company prepaid $22.800 cash for 12 months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. Apr. 3 The company made credit purchases for $10,300 in office equipment and $6.900 in office supplies. Payment is due within 10 days Apr. The company completed a $10,000 project for a client, who must pay within 30 days. Apr. The company completed a $17500 project for a client, who must pay within 30 days Apr 13 The company paid $16.200 cash to settle the account payable created on April 3. Apr 19 The company paid $7.920 cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. Apr. 22 The company received $10,500 cash as partial payment for the work completed on April 9, Apr. 25 The company completed work for another client for $6,200 on credit. Apr. 28 The company paid $6,200 cash in dividends. Apr. 29 The company purchased $2,900 of additional office supplies on credit Apr. 30 The company paid $3,300 cash for this month's utility bill 10 Taw H