Mcn. 12/4 Wb. M Question 1 C Wh ms neducation.com/ext/map/ndex himl" con consecara browse Celacuran 1). 2) 3) 4) 5) 6) 7) 8) 9) 10) 12) Requirement 7 General Journal Delta Math St General Ledger C % 5 Trial Balance New Tab Saved Prev 6 On November 6, Trayton Eli withdrew $100,000 from personal savings and deposited it in a new business checking account for Eli's Consulting Services. On November 7, Eli's Consulting Services issued Check 1001 for $5,000 to purchase a computer and other equipment. On November 10, Eli's Consulting Services purchased office equipment on account from Office Plus for $6,000. (Invoice 2223 due in 60 days). On November 28, Eli's Consulting Services purchased supplies for $1,500, Check 1002. On November 30, Eli's Consulting Services paid Office Plus $2,500 in partial payment of Invoice 2223, Check 1003. On November 30, Eli's Consulting Services wrote Check 1004 for $8,000 to prepay rent for December and January. During December, performed services for $36,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. During December, paid monthly salaries to employees, $8,000, Checks 1005-1006. During December, paid $650 for a utility bill, Check 1007. During December, the owner withdrew $5,000 for personal expense, Check 1008. Income Statement 1 of 3 Op & 7 * Th Stmt of Owners Eqty Inbox (2,714) 1024%253%252F%252Fremotect mehedocation.com 75% of available points Prepare the journal entry below for each of the transactions, entering the debits before the credits. To save your work, click on "Record Entry". 8 M Balance Sheet Next > (no subject; i * + 9 Help Accounting Equation Save & Exit Check my Show less D Men 12:4 F ms i 8) 9) ...... 10) 11) 12) M Question 1 CH > www Requirement education.com/ext/map/index.html?_con-con&external browser-0&launchUrl=https%253A%252F%252Fnewco General Duning December, performed services for $30,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. During December, paid monthly salaries to employees, $8,000, Checks 1005-1006. During December, paid $650 for a utility bill, Check 1007, During December, the owner withdrew $5,000 for personal expense, Check 1008. General ledger C DeltaMath St $ D Trial Balance 96 X New Tal 5 Income Statement Prev 6 General Journal 75% of available points - General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. No input required-General Ledger Tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. No input required - Trial Balance Tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. mung No input required -Income Statement, Statement of Owner's Equity, Balance Sheet Tabs - General ledger software also automates the preparation of financial statements. In a manual system, financial statements are only prepared at the end of the accounting period. In an automated system, the financial statements are updated after each transaction. 25% of available points - Accounting Equation Tab - It is important to be able to identify the impact each transaction has on the fundamental accounting equation. For each transaction, indicate the impact the item has on the accounting equation. 1 of 3 Stmt of Owners Eqty hp Inbox (2,714) https%253A%252F%252Fnewconnect.mheducation.com% & 7 Balance Sheet 8 Next > the subject! - it X Accounting Equation Help Save & Show less A 9 CI roblems i KILL at Mon 12:4 WB X COXLU 2 zto.mheducation.com/ext/map/indexhtml? con con&external browser=0&launchUrl=https%253A %252F%252Fnewconnect.mheducation.com% 7) 8) 9) 10) 11) 12) M Question 1 CH * Delta Math Sty Requirement General Journal C January. During December, performed services for $36,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. During December, paid monthly salaries to employees, $8,000, Checks 1005-1006. During December, paid $650 for a utility bill, Check 1007. During December, the owner withdrew $5,000 for personal expense, Check 1008. $ General Ledger 4 Trial Balance 96 & 7 Balance Sheet Dates: Nov 06 1 of 3 # Next > (no subject) X + 8 9 Show less A Accounting Equation Help to: Dec 31 Save & Exit S Check my v - Mer 12:40 oblems * M Question 1CH omheducation.com/ext/map/index.html?con con&external browser 0&launchil Requirement Total General Journal C General Ledger $ Delta Math St Trial Balance % 5 Account Title CH 4 Problems i 1 3.33 Skipped eBook Print Mon 12:4 M X M Question 1c ezto.mheducation.com/ext/map/ind html" con con&external browser-0&launchUrl https%253A%252F%252Fnewconnect.mheducation.com% leferences Revenues Fees income Expenses Salaries expense Utilities expense MEN Net income LUUTU C DeltaMath St * ELI'S CONSULTING SERVICES Income Statement For Month ended December 31, 2021 12 5 EL No input required An income statement reports the changes in equity attributable to the operation of the business during a specific time period. The income statement reports revenues and expenses in the calculation of net income or net loss. Net income or loss from the income statement is transferred to the statement of owner's equity. Trial Balance JC Prev Par Mc Mhere 10 0 Saved U 0 0 0 0 New Tab M DE PROGREMELTE Stmt of Owners Enty. S 1 of 3 hp ----* -T 1 & 7 1-30% (2,714) Next > 8 Mine sub ect; it x + L I Help Save & Exit 1 Check my 33 H 4 Problems Skipped eBook Men 12:4 X M Question 1 C ezta mheducation.com/ext/map/index.html? con con&external browser G&launchUrl=htps%253A%252F%252Fnewconnect mhe Print ferences Requirement General Journal General Ledger Delta Math Stoc Owner's initial investment Add: Net income Less: Withdrawals by owner Trayton Eli, Capital, December 31, 2021 ELI'S CONSULTING SERVICES Statement of Owner's Equity For Month ended December 31, 2021 Trial Balance 96 5 < Income Statement + Prev New Tal Income Statement 10 Saved 0 No input required There are four subsets of equity: Investments by owners, withdrawals by the owner, revenues and expenses. All four subsets are compiled in the Capital account at the end of the period. The ending capital balance is transferred to the equity section of the balance sheet. M 1 of 3 15 & Stmt of Owners Eqty 7 PREDSEDNE Poox (2714) % Balance Sheet Balance Sheet > Next > 8 Accounting Equation fno subject; mheducation.com% 9 Help Show less A + Save & Exit Check my CH 4 Problems i 1 33.33 points Skipped Mor 12:4 F References Graw ezto.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchurl=https%253A %252F%252Fnewcom M Question 1 X que | **** Cash Accounts receivable Supplies Prepaid rent Equipment Joumal Delta Mach S: XNew Tal Assets Ledger C 'U' ~U Statement Owners Eqty No Input required. The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each account is reported separately on the balance sheet. Equity includes the ending capital account baland Withdrawals + Revenues - Expenses) ELI'S CONSULTING SERVICES Balance Sheet December 31, 2021 ** Mum + $ Saved Prev 0 0 0 0 0 0 0 0 0 0 1 of 3 hp ' :oox (27 4 M MUIL Next > SHUML O ..... X CH 4 Problems 33.33 points ezto.mheducation.com/ext/map/index.html? con-con&external browser -08launchUrl=https:%253A%252F%252Fnewconnect.mheducation Skipped Men 12:4 6 x M Question 1 CH X W Xt References Graw On November 6, Trayton Eli withdrew $100,000 from personal savings and deposited it in a new business checking account for Eli's Consulting Services. Delta Math Stu On November 7, Eli's Consulting Services issued Check 1001 for $5,000 to purchase a computer and other equipment. On November 10, Ell's Consulting Services purchased office equipment on account for $6,000. On November 28, Eli's Consulting Services purchased supplies for $1,500, Check 1002. On November 30, Eli's Consulting Services paid Office Plus $2,500 in partial payment of Invoice 2223, Check 1003. On November 30, Eli's Consulting Services wrote Check 1004 for $8,000 to prepay rent for December and January During December, performed services for $36,000 in # 3 $ % * New Tal 5 Saved Total Assets = Prev Balance Sheet Total Liabilities 1 of 3 hp X ~ 100% (2.714) X S & 7 + Total Equity Next > Mino subject: 8 Help Sav CH 4 Problems 1 ezto.mheducation.com/ext/map/Index.html?.con con&external brow 33.33 points Skipped Mun 12/4 V Xfor References Mc Graw Hill 2 Equipment. M Question 10 On November 10, Ell's Consulting Services purchased office equipment on account for $6,000. DeltaMath St On November 28, Eli's Consulting Services purchased supplies for $1,500, Check 1002. On November 30, Ell's Consulting Services paid Office Plus $2,500 in partial payment of Invoice 2223, Check 1003 On November 30, Ell's Consulting Services wrote Check 1004 for $8,000 to prepay rent for December and January During December, performed services for $36,000 in cash. During December, performed services for $11,000 on credit. During December, received $6,000 in cash from credit clients on their accounts. 3 During December, paid $8,000 for salaries. During December, paid $650 for a utility bill. During December, the owner withdrew $5,000 for personal expenses. Totals - Should agree with Balance Sheet C 4 % 5 New Tal 08launchi Prev Saved LA 5 https%253A %252F%252Fnewconnect.mheducation.com%. 1 of 3 D hp W & 7 Inbox (2,714) 40 Next > (no subject! 9 Help X Save