i need assistance in completing these questions. i am not good at account and i am very lost.

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 ). Garcia, Owner, invested $124,750 cash in the conany in exchange for common stock. January 2 The company purchased supplies for $2,050 cash, January 3 The company purchased $10,050 of equipment on credit January 4 The company received 517,100 cash for services provided to a custoner January $ The company paid $10,850 cash to settle the payable for the equipment purchased on January 3. January 6 The company billed a customer 55,500 for services provided January 7 The company paid $2,025 cash for the monthly rent January & The company collected $1,725 cash as partial payment for the account receivable created on January 6. January 9 The company paid $10,800 cash in dividends to the owner (sole shareholder) Answer is not complete Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet FS Impact Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions of the Garcia Company, 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 Date No 1 Account Title Credit January 0: Cash Common stock Debit 124.750 124,750 2 January 02 Supplies Cash 2,050 00 2050 3 January 03 > Equipment Accounts payable 10.050 10,050 4 January 04 Cash Services reven 17.100 17,100 5 January 05 Accounts payable Cash 10,050 10,050 5 6 January 05 * Accounts receivable Services revenue 3.500 3.500 $ 7 January 07 Rent expense 2025 Cash 2.025 January 08 0 Cash Accounts receivable 9 January 09 Dividends Cash 10.800 10,800 urn to question 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 ). Garcia, owner, invested $124,750 cash in the company in exchange for common stock January 2 The company purchased supplies for $2,050 cash January > The company purchased $10,ese of equipment on credit January 4 The company received $17,102 cash for services provided to customer January $ The company paid $10,00 cash to settle the payable for the equipment purchased on January 3. January 6 The company billed customer $3,500 for services provided January 7 The company paid $2,625 cash for the monthly rent. January 3 The company collected $1,725 cash as partial payment for the account receivable created on January 6. January 9 The company paid $10,800 cat in dividends to the owner (sole shareholder) Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet FS Impact Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title. Click on any of the individual amounts to return to the underlying journal entry. General Ledger Account Cash No. Date Debit Credit No. Accounts receivable Debit Credit Date Balance 124,750 3.500 2,050 6 January 06 January 08 3.5 1.7 1.725 17.100 non 1 January 01 2 January 02 4 January 04 5 January 05 7 January 07 8 January 08 9 January 09 Balance 0 124.750 122,700 139,800 129,750 127.725 129,450 118,650 10 050 2025 1.725 10.800 Supplies Debit No Date Equipment Debit Credit No. Date Credit Balance Balance 0 2.050 2 January 02 2.050 3 January 03 10.050 100 Accounts payable Debit Credit Common stock Debe Credit No Date No. Date Balance Balance 0 10.050 10.050 1 January 01 124.750 1247 3 Jy 09 5 January 10.050 Dividends Services revenue Debit Credit No. Date Debit Credit Balance No. De Balance 0 January 09 10.800 10.800 January 04 January 06 17.100 3.800 17,1 20.0 Rent expose Debit Credit No. Date Balance 7 January 07 2,025 2025 Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet FS Impact The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you must have a journal entry that is out of balance. If you have an abnormal ending balance (indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Dates: January 01 to: January 09 Garcia Company Trial Balance January 09, 2021 Account Title Debit Credit $ Cash Accounts receivable Supplies Equipment Common stock Dividends Services revenue Rent expense Total 118,650 1.775 2,050 10,050 124.750 10.800 20,600 2,025 145,350 $ $ 145.350 General General Requirement Trial Balance Income St Retained Journal Ledger Statement Balance Sheet FS Impact Earnings An income statement reports the changes in equity attributable to the operation of the business during a specific time period. Revenues increase equity, and expenses decrease equity. Garcia Company Income Statement For Month ended January 31, 2021 Revenues Services revenue 20,600 $ 20,600 Total revenues Expenses Rent expense 2,025 Total expenses Net income 2,025 18,575 $ Net income or loss is transferred from the income statement to the: Statement of Retained Earnings sole Shareholder). Answer is not complete. General General Requirement Income Journal Trial Balance St Retained Ledger Statement Balance Sheet FS Impact Earnings Review the statement of retained earnings and indicate how the statement is linked to the other financial statements. Garcia Company Statement of Retained Earnings For Month ended January 31, 2021 Retained earnings, January 1, 2021 0 Add: Net incomo 18,575 Loss Dividend (10,800) Retained earings, January 31, 2021 $ 7.775 Ending retained earnings is transferred to the Balance Shoot Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet FS Impact The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. Equity includes common stock and the ending retained earnings amount from the Statement of Retained Earnings Garcia Company Balance Sheet January 31, 2021 Assets Cash 118,650 Accounts receivable 1,775 Supplies 2,050 Equipment 10,050 Total assets $ 132,525 Liabilities Accounts payable 0 O Total liabilities Equity Common stock Retained earnings Total equity Total liabilities and equity 124,750 7.775 132,525 132,525 $ The balance in retained earnings comes from Statement of Retained Earnings the: Answer is not complete. General General Income Requirement Journal Trial Balance St Retained Ledger Statement Balance Sheet FS Impact Earnings 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 work by selecting the date on ti- trial balance tab.) The first 2 transactions are completed for you! Show less Net Income Total Assets Balance sheet Total Liabilities Balance sheet Income statement Total Equity Balance sheet $ 0 S 124,750 $ 0 S 124,750 0 124,750 0 124.750 Transaction: Where can you go to find each of your answers? January 1 - J. Garcia, owner, invested $124.750 cash in the company in exchange for common stock January 2 . The company purchased supplies for $2,050 cash January 3 - The company purchased $10.050 of equipment on credit. January 4 - The company received $17,100 cash for services provided to a customer January 5. The company paid $10,050 cash to settle the payable for the equipment purchased on January 3 January 6 - The company billed a customer $3,500 for services provided. Jan 7 - The company paid $2,025 cash for the monthly rent January 8 - The company collected $1.725 cash as partial payment for the account receivable created on January 6, January 9. The company paid $10,800 cash in dividends to the owner(sole shareholder),