Decenber 1 On Decenber 1 , Melanie Duerr forns a consulting business, nawed Home Heaith Plus. Hone Health plus receives 582 , Gag cash fron Melanie, Duerr as an owner contribution. Decenber: 2 Home Health Plus pays 55,100 cash for supplies. The conpany's policy is to record all prepaid expenses in dsset ccounts. Decerber 3 Hone Heslth Plus pays 566,000 cash for equipenti. Decenber 4 Hone Health Plus purchases $11,050 of supplies on credit from a supplier, CalTech Supply. December 5 Home Health Plus provides consulting services and inmediately collects 56,800 cash. Deceaber 6 Hone Health Plus payt $3,609 cash for Decenber rent. Deceeber 7 tone Health Plus pays $2,100 cash for euployee salary, Decenter a Hom Health Plus provides consulting services of 55,709 and rents its test facilities for 54,409 , The custoner is billed $10,100 for these services. Decenber' 9 Hote Health Plus receives 510,100 cosh fron the client billed on Decenber 8 : Decenber 10 Hone Health Plus pays CalTech Supply $3,500 cash as partial poynent for fte December 4 \$11,050 purchase of gupp11e5. December 11 Helanle Duenr withdrans 52,000 cash from Hone Health plus far personal use. Decener 12 Hone thealth Plus recelves 54,300 cosh in advance of prowiding consulting services co a custaeer. The cospany" policy is to record fees collected in advance in a balance sheet account. Decenter 13. Hoat Realth Plus pays 55,909 cosh (insurance premius) for a 24-minth insurance policy. Coverage begits on Deceeber 1. The conpany"s policy is to recond all prepsid expenses in a balance sheet account. December-14 Hore heslth plus pays 52.720 cash tor supplies. Decenber 15 itote Health flus pay 152,905 cosh for Decerber utilfted txpense. General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. General Ledger Tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance Tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit on a credit. Total debits should always equal total credits. Income Statement Tab - The revenue and expense balances from the trial balance appear on the income statement, along with their balance as of the date selected. Review the income statement and indicate how the income statement is linked to the other financial statements. Statement of owner's Equity Tab-Owner investments and withdrawals, as reported on the trial balance, appear on the statement of owner's equity. Review the statement of owner's equity and indicate how the statement of owner's equity linked to the other financial statements. Balance Sheet Tab - Each asset and liability account balance, as reported on the trial balance, appears on the balance sheet, along with the ending capital balance. Review the balance sheet and then fndicate how the balance sheet Is linked t the other financlal statements. Financial statement Impact Tab - It is important to be able to identify the impact each transaction has on the financial statements. For each of the transactions, indicate the cumulative amount of net income, total assets, total liabilities and: total equity that would appear on the financial statements immedlately after each transaction is recorded
