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GLO202 (Algo)- Based on Exercise 2-13 Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements
GLO202 (Algo)- Based on Exercise 2-13 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. January 1 D. Hall, owner, invested $142,750 cash in the company in exchange for common stock. January 2 The company purchased supplies for $2,650 cash. January 3 The company purchased $14,050 of equipment on credit. January 4 The company received $18,300 cash for services provided to a customer. January 5 The company paid $14,050 cash to settle the payable for the equipment purchased on January 3. January 6 The company billed a customer $4,100 for services provided. January 7 The company paid $2,625 cash for the monthly rent. January 8 The company collected $2,175 cash as partial payment for the account receivable created on Januar January 9 The company paid $11,700 cash in dividends to the owner (sole shareholder). Requirement General Journal 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 financial statements immediately after each transaction is recorded. (Hint: You can check your work by selecting the date trial balance tab.) The first 2 transactions are completed for you! Show Transaction: Net Income Where can you go to find each of your answers? Income statement Total Assets Balance sheet Total Liabilities Balance sheet Total Equity Balance sheet January 1-D. Hall, owner, invested $142,750 cash in
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