I need help filling out the FS Impact because I never done this one before. I have all the other tables completed.
Total Liabilities Transaction: Net Income Total Assets Total Equity Where can you go to find each of your answers? ncome statement Balance sheetBalance sheet Balance sheet Dec. 1- Sweet Homes receives $68,000 cash from Mike Sweet as an owner contribution 68,000 $ 68,000 68,000 78,000 0 $ Dec. 2 - Pays $4,400 cash for supplies Dec. 3 - Pays $52,000 cash for equipment 68,000 68,000 68,000 Dec. 4 - Purchases $10,000 of supplies on credit from a supplier Dec. 5 Provides consulting services and immediately collects $6,100 cash Dec. 6 Pays $2,900 cash for December rent. Dec. 7 - Pays $1,400 cash for employee salary Dec. 8 Provides consulting services of $4,300 and rents its test facilities for $3,000. The customer is billed $7,300 for these services Dec. 9 - Receives $7,300 cash from the client billed on December 8 Dec. 10 - Pays CalTech Supply $2,800 cash toward the payable from December 4 Dec. 11 - Mike Sweet withdraws $1,300 cash for personal use Dec. 12 - Receives $4,100 cash in advance of providing consulting services to a customer Dec. 13 - Pays $4,300 cash (insurance premium) for a 24-month insurance policy. Coverage begins on December 1 Dec. 14 - Pays $2,020 cash for supplies Dec. 15 - Pays $2,205 cash for December utilities expense Dec. 16 - Pays $1,650 cash in employee salary for work performed in the latter part of December Sweet Homes Balance Sheet December 31, 201 Assets Cash Supplies Prepaid insurance Equipment 10,525 16,420 4,300 52,000 Total assets 83,245 Liabilities Accounts payable Unearned consulting revenue 7,200 4,100 Total liabilities 11,300 Equity M. Sweet, Capital 71,945 Total equity 71,945 Total liabilities and equity 83,245 The balance in Sweet's capital account comes from Statement of the: Owner's Equity Sweet Homes Income Statement For Month ended December 31, 2017 Revenues Consulting revenue Rental revenue 10,400 3,000 Total revenues 13,400 Expenses Salaries expense Rent expense Utilities expense 3,050 2,900 2,205 Total expenses Net income 8,155 5,245 Statement of Net income or loss is transferred from the income statement to the: General Ledger Account as Accounts recelvable Debit Credit Balance Debit Credit Balance Dec 01 1 Dec 01 2 Dec 02 3 Dec 03 5Dec 05 6Dec 06 7 Dec 07 9 Dec 09 10Dec 10 Dec 11 12 Dec 12 13 Dec 13 14 Dec 14 15 Dec 15 16Dec 16 Dec 01 Dec 08 Dec 09 68,000 68,000 63,600 11,600 17,700 8 7,300 7,300 4,400 52,000 9 2,900 1,400 13,400 20,700 17,900 16,600 20,700 16,400 14,380 12,175 7,300 2,800 4,100 4,300 2,020 2,205 1,650 Supplies Prepaid insurance Debit Credit Balance Debit Credit Balance 2 Dec 02 4 Dec 04 14 Dec 14 4,400 10,000 2,020 4,400 14,400 16,420 13 Dec 13 4.300 4,300 Equipment Accounts payable Debit Credit Balance Debit Credit Balance 3 Dec 03 52,000 52,000 4 Dec 04 10,000 10,000 10 Dec 10 2,800 7,200 Unearned consulting revenue M. Sweet, Capital Debit Credit Balance Debit Credit Balance 12 Dec 12 4,100 1 Dec 01 68,000 68,000 M. Sweet, Withdrawals Consulting revenue Debit Credit Balance Debit Credit Balance 11Dec 11 6,100 10,400 1,300 5 Dec 05 8 Dec 08 4,300 Rental revenue Salaries expense Debit Credit Balance Debit Credit Balance 8Dec 08 1.400 1,650 3,000 3,000 7 Dec 07 16 Dec 16 3,050 Rent expense Utilities expense Debit Credit Balance Debit Credit Balance 6 Dec 06 2,900 2,900 15 Dec 15 2,205
