Paul Clark opens a web consulting business called People First and completes the following transactions in its first month of operations. 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.

Apr.

1

Clark invested $122,000 cash along with office equipment valued at $33,000 in the company in exchange for common stock.

Apr.

2

The company prepaid $17,400 cash for 12 months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts.

Apr.

3

The company made credit purchases for $9,400 in office equipment and $5,000 in office supplies. Payment is due within 10 days.

Apr.

6

The company completed services for a client and immediately received $8,200 cash.

Apr.

9

The company completed a $13,000 project for a client, who must pay within 30 days.

Apr.

13

The company paid $14,400 cash to settle the account payable created on April 3.

Apr.

19

The company paid $5,760 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts.

Apr.

22

The company received $7,800 cash as partial payment for the work completed on April 9.

Apr.

25

The company completed work for another client for $5,300 on credit.

Apr.

28

The company paid $6,100 cash in dividends.

Apr.

29

The company purchased $2,000 of additional office supplies on credit.

Apr.

30

The company paid $3,100 cash for this months utility bill.

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 the trial balance tab.) The first two transactions are completed for you!

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UnadjustedAdjustedPost-closing

Transaction:	Net Income	Total Assets	Total Liabilities	Total Equity
Where can you go to find each of your answers?	not attempted	not attempted	not attempted	not attempted
Apr. 1 Clark invested $122,000 cash along with office equipment valued at $33,000 in the company in exchange for common stock.	$0	$155,000	$0	$155,000
Apr. 2 The company prepaid $17,400 cash for 12 months rent for office space. The company's policy is record prepaid expenses in balance sheet accounts.	0	155,000	0	155,000
Apr. 3 The company made credit purchases for $9,400 in office equipment and $5,000 in office supplies. Payment is due within 10 days.	0selected answer correct	169,400selected answer correct	14,400selected answer correct	155,000selected answer correct
Apr. 9 The company completed a $8,200 project for a client, who must pay within 30 days.	8,200selected answer correct	177,600selected answer correct	14,400selected answer correct	155,000selected answer incorrect
Apr. 9 The company completed a $13,000 project for a client, who must pay within 30 days.	21,200selected answer correct	190,600selected answer correct	14,400selected answer correct	155,000selected answer incorrect
Apr. 13 The company paid $14,400 cash to settle the account payable created on April 3.	21,200selected answer correct	176,200selected answer correct	0selected answer correct	155,000selected answer incorrect
Apr. 19 The company paid $5,760 cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts.	21,200selected answer correct	176,200selected answer correct	0selected answer correct	155,000selected answer incorrect
Apr. 22 The company received $7,800 cash as partial payment for the work completed on April 9.	21,200selected answer correct	176,200selected answer correct	0selected answer correct	155,000selected answer incorrect
Apr. 25 The company completed work for another client for $5,300 on credit.	26,500selected answer correct	181,500selected answer correct	0selected answer correct	155,000selected answer incorrect
Apr. 28 The company paid $6,100 cash in dividends.	18,400selected answer incorrect	173,400selected answer incorrect	0selected answer correct	155,000selected answer incorrect
Apr. 29 The company purchased $2,000 of additional office supplies on credit.	18,400selected answer incorrect	175,400selected answer incorrect	2,000selected answer correct	155,000selected answer incorrect
Apr. 30 The company paid $3,100 cash for this months utility bill.	15,300selected answer incorrect	172,300selected answer incorrect	2,000selected answer correct	155,000selected answer incorrect

This is as far as I have gotten, in the boxes it tells you where I am correct and incorrect. I am not sure what the answers are for the boxes that I am incorrect is, please help, thanks!