Ed Egert opens a web consulting business called Egert Consulting and completes the following transactions in March. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements.

Ed Egert opens a web consulting business called Egert Consulting and completes the following transactions in March. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. Mar. 1 Egert invested $159,000 cash along with $22,300 in office equipment in the company in exchange for common stock. Mar. 2 The company prepaid $12,000 cash for six months rent for an office. The company's policy is to record prepaid expenses in balance sheet accounts. Mar. 3. The company made credit purchases of office equipment for $3,300 and office supplies for $1,500. Payment is due within 10 days. Mar. 6 The company completed services for a client and immediately received $4,300 cash. Mar. 9 The company completed a $7,800 project for a client, who must pay within 30 days. Mar. 12 The company paid $4,800 cash to settle the account payable created on March 3. Mar. 19 The company paid $5,300 cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. Mar. 22 The company received $4,700 cash as partial payment for the work completed on March 9. Mar. 25 The company completed work for another client for $4,200 on credit. Mar. 29 The company paid $5,400 cash in dividends. Mar. 30 The company purchased $900 of additional office supplies on credit. Mar. 31 The company paid $800 cash for this month's utility bill. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Equity Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of Egert Consulting, 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". Show less Balance Sheet March 31 Assets: Cash Accounts receivable Office supplies Prepaid rent Prepaid insurance Office equipment 139,700 7,300 2,400 12,000 5,300 25,600 Total Assets $ 192,300 Liabilities: Accounts payable 900 $ $ 900 Total Liabilities Stockholders' Equity: Common stock Retained earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 181,300 10,100 191,400 192,300 $ $ 181,300 0 0 4,300 7,800 0 Transaction Impact on Equity Mar. 1) Egert invested $159,000 cash along with $22,300 in office equipment in the company in exchange for common Increased equity - Stockholder investment stock. Mar. 2) The company prepaid $12,000 cash for six months rent for an office. The company's policy is to record prepaid No change in equity expenses in balance sheet accounts. Mar. 3) The company made credit purchases of office equipment for $3,300 and office supplies for $1,500. Payment No change in equity is due within 10 days. Mar. 6) The company completed services for a client and immediately received $4,300 cash. Increased equity - Revenue Mar. 9) The company completed a $7,800 project for a client, who must pay within 30 days. Increased equity - Revenue Mar. 12) The company paid 54,800 cash to settle the account No change in equity payable created on March 3. Mar. 19) The company paid $5,300 cash for the premium on a 12-month insurance policy. The company's policy is to record No change in equity prepaid expenses in balance sheet accounts. Mar. 22) The company received $4,700 cash as partial payment for the work completed on March 9. No change in equity Mar. 25) The company completed work for another client for $4,200 on credit Increased equity - Revenue Mar. 29) The company paid $5,400 cash in dividends. Decreased equity - Dividends Mar. 30) The company purchased $900 of additional office No change in equity supplies on credit Mar. 31) The company paid $800 cash for this month's utility bill. Decreased equity - Expense Total impact on equity What is the balance in the total equity as reported on the balance sheet? 0 0 4,200 (5,400) 0 (800) 191,400 $ Ed Egert opens a web consulting business called Egert Consulting and completes the following transactions in March. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. Mar. 1 Egert invested $159,000 cash along with $22,300 in office equipment in the company in exchange for common stock. Mar. 2 The company prepaid $12,000 cash for six months rent for an office. The company's policy is to record prepaid expenses in balance sheet accounts. Mar. 3. The company made credit purchases of office equipment for $3,300 and office supplies for $1,500. Payment is due within 10 days. Mar. 6 The company completed services for a client and immediately received $4,300 cash. Mar. 9 The company completed a $7,800 project for a client, who must pay within 30 days. Mar. 12 The company paid $4,800 cash to settle the account payable created on March 3. Mar. 19 The company paid $5,300 cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. Mar. 22 The company received $4,700 cash as partial payment for the work completed on March 9. Mar. 25 The company completed work for another client for $4,200 on credit. Mar. 29 The company paid $5,400 cash in dividends. Mar. 30 The company purchased $900 of additional office supplies on credit. Mar. 31 The company paid $800 cash for this month's utility bill. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Equity Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of Egert Consulting, 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". Show less Balance Sheet March 31 Assets: Cash Accounts receivable Office supplies Prepaid rent Prepaid insurance Office equipment 139,700 7,300 2,400 12,000 5,300 25,600 Total Assets $ 192,300 Liabilities: Accounts payable 900 $ $ 900 Total Liabilities Stockholders' Equity: Common stock Retained earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 181,300 10,100 191,400 192,300 $ $ 181,300 0 0 4,300 7,800 0 Transaction Impact on Equity Mar. 1) Egert invested $159,000 cash along with $22,300 in office equipment in the company in exchange for common Increased equity - Stockholder investment stock. Mar. 2) The company prepaid $12,000 cash for six months rent for an office. The company's policy is to record prepaid No change in equity expenses in balance sheet accounts. Mar. 3) The company made credit purchases of office equipment for $3,300 and office supplies for $1,500. Payment No change in equity is due within 10 days. Mar. 6) The company completed services for a client and immediately received $4,300 cash. Increased equity - Revenue Mar. 9) The company completed a $7,800 project for a client, who must pay within 30 days. Increased equity - Revenue Mar. 12) The company paid 54,800 cash to settle the account No change in equity payable created on March 3. Mar. 19) The company paid $5,300 cash for the premium on a 12-month insurance policy. The company's policy is to record No change in equity prepaid expenses in balance sheet accounts. Mar. 22) The company received $4,700 cash as partial payment for the work completed on March 9. No change in equity Mar. 25) The company completed work for another client for $4,200 on credit Increased equity - Revenue Mar. 29) The company paid $5,400 cash in dividends. Decreased equity - Dividends Mar. 30) The company purchased $900 of additional office No change in equity supplies on credit Mar. 31) The company paid $800 cash for this month's utility bill. Decreased equity - Expense Total impact on equity What is the balance in the total equity as reported on the balance sheet? 0 0 4,200 (5,400) 0 (800) 191,400 $