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 immediately after each transaction is recorded.

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6 EIIITrial Balance Statement Ledger Requirement Journal Balance Sheet S Impact Equity 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 answers by selecting the date on the trial balance tab.) The first 3 transactions are completed for you! 3.47 points Show less Transaction: Total Assets Liabilities Net Income T eBook Where can you go to find each of your answers? Balance sheet Balance sheet Balance sheet statement Dec 1-Pelcher Marketing recelves $70,000 cash from 0 70,000 S Laura Pelcher as an owner contribution Dec 2 - Pays $4,500 cash for supplies Dec. 3- Pays $54,000 cash for equipment. $ 70 000 70,000 70.000 Print 70,000 70,000 Dec. 4 Purchases $10,150 of supplies on credit from a supplier Dec. 5 Provides consulting services and immediately collects $6.200 cash. 6,200 3.200 1.700 9400 10,150 10,150 10,150 10,150 10,150 Dec. 6 Pays $3,000 cash for December rent. Dec. 7 - Pays $1,500 cash for employee salary Dec. 8 Provides consulting services of $4,500 and rents its test facilities for $3,200. The customer is billed $7,700 for these services Dec. 9 - Receives $7,700 cash from the client billed on 9.400 9,400 9,400 9400 10,150 7,250 7,250 11,450 Dec. 10 Pays CalTech Supply 52,900 cash toward the payable from December 4 Dec 11 Laura Pelcher withdraws $1,400 cash for nal use Dec. 12-Receives $4,200 cash in advance of providing Dec 13 - Pays $4,400 cash (insurance premium) for a December 1 Dec. 14 Pays $2,120 cash for supplies Dec. 15- Pays 52,305 cash for December utilities urance policy. Coverage begins on 9400 9,400 7.095 5,395 11,450 11,450 11,450 11,450 Dec. 16- Pays $1,700 cash in employee salary for work performed in the latter part of December 85,445 73,995 Please verify that each of your final amounts agrees with the financial statements as of, or for the month ended, December 31