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how would you fill in the impact on equity Nina Miller opens a web consulting business called Miller Consulting and completes the following transactions in
how would you fill in the impact on equity
Nina Miller opens a web consulting business called Miller 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 to financial statements: Mar. I Miller invested $189,600 cash along with $23,300 in office equipeent in the conpany. Mar. 2. The conpany prepaid $8,600 cash for six months' rent for an office. The conpany's policy is to record prepaid expenses in balance sheet accounts. Mar. 3 The conpany nade credit purchases of office equipent for $4,300 and office supplies for $2, 509 . Paynent is due within 10 days. Mar. 6 The company completed services for a client and imediately received $5,390 cash. Mar. 9 The company completed a $8,800 project for a client, who nust pay within 30 days. Mar. 12. The company paid $6,800 cash to settle the account payable created on March 3. Mar. 19 The company paid \$6,500 cash for the premium on a 12 -month insurance policy. The conpany's policy is to record prepaid expenses in balance sheet accounts. Mar. 22 The conpany received $5,360 cash as partial paynent for the work completed of March 9. Mar. 25 the conpany conpleted work for another client for $5,260 on credit. Mar. 29 Miller withdrew 35,669 cash fron the company for personal use. Mar. 30 The company purchased $1,100 of additional office supplies on credit. Mar. 31 The conpany paid $1,600 cash for this nonth's utility bil1. While the balance sheet reports the detail of individual assets and liabilities, owner's equity is reported in total. The expanded accounting equation shows the four subsets of equity: Revenues, Expenses, Owner investments and Owner withdrawals. Using the dropdown buttons, indicate the impact each transaction has on total equity (if any). Compare the total with the amount of equity reported on the balance sheet. While the balance sheet reports the detail of individual assets and liabilities, owner's equity is reported in tota accounting equation shows the four subsets of equity: Revenues, Expenses, Owner investments and Owner w Using the dropdown buttons, indicate the impact each transaction has on total equity (if any). Compa the amount of equity reported on the balance sheet Step by Step Solution
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