please answer all the questions. they are all connected to eachother. im super confused and if you
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please answer all the questions. they are all connected to eachother. im super confused and if you please show every section sepreate that would be awsome. thanks
Mastery Problem: Analyzing Transactions KL Company Taccounts Transactions Trial Balance: Unequal Totals Trial Balance: Correct Errors in Trial Balance KL Company Katie Long owns and operates KL Company Transactions for the month of March have been posted to the accounts An intern has prepared a trial balance from the Taccounts, but there seem to be some errors Required 1 in the Transactions panel scriptions of the transactions for the month of March are provided. Each of the bransactions in the Transactions panel has been posted to the accounts Referring to the accounts, select the date on which each transaction occurred enter the amount of the transaction, and select the account to debt and credit 2 The trial balance prepared by the intern can be found in the Trial Balance Unequal Tofas panel. The nem is puzzled by the unequal totals. Prepare a corrected trial balance on the Trial Balance Correct panel 3. Compare the trial balance prepared by the intern (Trial Balance Unequal Tofats) to the trial balance that you prepared (Thal Balance Correct) Use the table provided in the Errors in Thal Balance panel to select the accounts for each type of error 4 The intern is puzzled and asks "Are you sure the accounting equation is id in balance Using the corrected balance you prepared prove that the accounting equation is in balance She puzzled, the internasks Why do none of the amounts in the accounting equation equal the totals on the trial balance?" Explain Cash 3/1 17,600.00 3/3 2,600.00 3/25 7,800.00 3/27 1,200.00 3/30 7,900.00 3/29 3.575.00 3/31 1,850.00 Accounts Receivable 3/18 10,100.00 3/30 7,900.00 KL Company T accounts Supplies counts 1,500.00 the tran Equipment nsactio 3/2 17,000.00 ern is pu you pre Accounts Payable 1,200.00 3/27 1,500.00 cted tria the acco Notes Payable 17,000.00 Katie Long, Capital 17,600.00 Katie Long, Drawing 3/31 1,850.00 Fees Earned 3/18 10,100.00 3/25 7,800.00 Rent Expense Rent Expense 3/3 2,600.00 Wages Expense 3/29 3,575.00 Mastery Problem: Analyzing Transactions Transactions Thal Balance: Correct Errors in Tal Balance V KL Company Taccounts Transactions Descriptions of the transactions for the month of March we provided in the following the Each of the transactions has been posted to the accounts Referring to the account select the date on which each brancachon occurred enter the amount of the transaction and see the account debt and credit Amount Debit Credo Transaction Kate Long, owner of KL Co. Contributed cash to the business Purchased equipment, giving a note payable for the purchase price Paid rent for April Purchased supplies on account Recorded lees eamed on account Received cash for lees earned Padron account Padwages Received cash from customers on account Recorded owner's willwal Check My Work 7 more Check My Work uses remaining Trial Balance: Correct KL Company UNADJUSTED TRIAL BALANCE March 31, 2018 ACCOUNT TITLE DEBIT CREDIT Cash 2 Accounts Receivable 3 Supplies 4 Equipment 5 Accounts Payable 6 Notes Payable 7 Katie Long, Capital 8 Katie Long, Drawing 9 Fees Eamed 10 Rent Expense 11 Wages Expense 12 Totals Errors in Trial Balance Compare the b e prepared by the dem ( error Not all accounts contain errors Blince health to the balance that you prepared Balance Correct the the foreach Error Type Cash Accounts Receivable Supplies Equipment Accounts Payable Notes Payable Katie Long Capital Rate Long Drawing Fees Eamed Rent Expense Wages Expense Transposition Incorrectly reported as a debit 0 B 0 0 0 0 Incorrectly reported as a credit D e Balance computed incorrectly The intern is puzzled and asks "Are you sure the accounting equations in balance Using the corrected the balance you prepared prove that the accounting equationsb e Assets Liabilities Owner's Equity Si puzzled, the item asks "Why do none of the amounts in the accounting equation equal the totals on the trial balance? Check all that apply The accounts with debit balances are not all classified in the same element of the accounting equation For example, not accounts with debt balances we assets This is because the revenue and expense accounts are part of the owner's equity element. The accounts with debit balances should be part of the total assets The accounts that make up the total for owner's equity have a mix of debit and credit balances The accounts with credit balances are not all classified in the same element of the accounting equation For example, not a ccounts with credit balances are babes You point out the total of the assets, labies and owner's equity is equal to the sum of the debt and credit totals in the trial balance Mastery Problem: Analyzing Transactions KL Company Taccounts Transactions Trial Balance: Unequal Totals Trial Balance: Correct Errors in Trial Balance KL Company Katie Long owns and operates KL Company Transactions for the month of March have been posted to the accounts An intern has prepared a trial balance from the Taccounts, but there seem to be some errors Required 1 in the Transactions panel scriptions of the transactions for the month of March are provided. Each of the bransactions in the Transactions panel has been posted to the accounts Referring to the accounts, select the date on which each transaction occurred enter the amount of the transaction, and select the account to debt and credit 2 The trial balance prepared by the intern can be found in the Trial Balance Unequal Tofas panel. The nem is puzzled by the unequal totals. Prepare a corrected trial balance on the Trial Balance Correct panel 3. Compare the trial balance prepared by the intern (Trial Balance Unequal Tofats) to the trial balance that you prepared (Thal Balance Correct) Use the table provided in the Errors in Thal Balance panel to select the accounts for each type of error 4 The intern is puzzled and asks "Are you sure the accounting equation is id in balance Using the corrected balance you prepared prove that the accounting equation is in balance She puzzled, the internasks Why do none of the amounts in the accounting equation equal the totals on the trial balance?" Explain Cash 3/1 17,600.00 3/3 2,600.00 3/25 7,800.00 3/27 1,200.00 3/30 7,900.00 3/29 3.575.00 3/31 1,850.00 Accounts Receivable 3/18 10,100.00 3/30 7,900.00 KL Company T accounts Supplies counts 1,500.00 the tran Equipment nsactio 3/2 17,000.00 ern is pu you pre Accounts Payable 1,200.00 3/27 1,500.00 cted tria the acco Notes Payable 17,000.00 Katie Long, Capital 17,600.00 Katie Long, Drawing 3/31 1,850.00 Fees Earned 3/18 10,100.00 3/25 7,800.00 Rent Expense Rent Expense 3/3 2,600.00 Wages Expense 3/29 3,575.00 Mastery Problem: Analyzing Transactions Transactions Thal Balance: Correct Errors in Tal Balance V KL Company Taccounts Transactions Descriptions of the transactions for the month of March we provided in the following the Each of the transactions has been posted to the accounts Referring to the account select the date on which each brancachon occurred enter the amount of the transaction and see the account debt and credit Amount Debit Credo Transaction Kate Long, owner of KL Co. Contributed cash to the business Purchased equipment, giving a note payable for the purchase price Paid rent for April Purchased supplies on account Recorded lees eamed on account Received cash for lees earned Padron account Padwages Received cash from customers on account Recorded owner's willwal Check My Work 7 more Check My Work uses remaining Trial Balance: Correct KL Company UNADJUSTED TRIAL BALANCE March 31, 2018 ACCOUNT TITLE DEBIT CREDIT Cash 2 Accounts Receivable 3 Supplies 4 Equipment 5 Accounts Payable 6 Notes Payable 7 Katie Long, Capital 8 Katie Long, Drawing 9 Fees Eamed 10 Rent Expense 11 Wages Expense 12 Totals Errors in Trial Balance Compare the b e prepared by the dem ( error Not all accounts contain errors Blince health to the balance that you prepared Balance Correct the the foreach Error Type Cash Accounts Receivable Supplies Equipment Accounts Payable Notes Payable Katie Long Capital Rate Long Drawing Fees Eamed Rent Expense Wages Expense Transposition Incorrectly reported as a debit 0 B 0 0 0 0 Incorrectly reported as a credit D e Balance computed incorrectly The intern is puzzled and asks "Are you sure the accounting equations in balance Using the corrected the balance you prepared prove that the accounting equationsb e Assets Liabilities Owner's Equity Si puzzled, the item asks "Why do none of the amounts in the accounting equation equal the totals on the trial balance? Check all that apply The accounts with debit balances are not all classified in the same element of the accounting equation For example, not accounts with debt balances we assets This is because the revenue and expense accounts are part of the owner's equity element. The accounts with debit balances should be part of the total assets The accounts that make up the total for owner's equity have a mix of debit and credit balances The accounts with credit balances are not all classified in the same element of the accounting equation For example, not a ccounts with credit balances are babes You point out the total of the assets, labies and owner's equity is equal to the sum of the debt and credit totals in the trial balance ![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/668f67dcab204_268668f67dc0a3fd.jpg)
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