please help with filling in the chart
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 C. Coluns, owner, Invested $172,750 cash in the company in exchange for common stock. January 2 The company purchased supplies for $3,650 cash. January 3 The company purchased $10, 050 of equipment on credit. January 4 The company received $20,300 cash for services provided to a customer. January $ The company paid $10,050 cash to settle the payable for the equipment purchased on January 3 . January 6 The company billed a customer $5,100 for services provided. January 7 The company paid $3,625 cash for the monthly rent. January 8 The company collected $2,925 cash as partial payment for the account receivable created on January January 9 The company paid $13,700 cash in dividends to the owner (sole shareholder). General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. 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. 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. Income Statement Tab - The revenue and expense balances from the trial balance appear on the income statement, along with their balance as of the date selected. Review the income statement and indicate how the income statement is linked to the other financial statements. Statement of Retained Earnings Tab - Beginning retained earnings plus (minus) net income (loss) for the period less dividends, Review the statement of Retained earnings and indicate how the statement is linked to the other financial statements. Balance Sheet Tab - Each asset and liability account balance, as reported on the trial balance, appears on the balance sheet, along with the equity balance. Review the balance sheet and then indicate how the balance sheet is linked to the other financial statements. Financial Statement Impact Tab It is important to be able to identify the impact each transaction has on the financial statements. For each of the transactions, indicate the cumulative amount of net income, total assets, total liabilities and total equity that would appear on the financial statements immediately after each transaction is recorded. 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 Labilities, and d) Total Equity that would be reported on the finandal statements immediately after each transaction is recorded. (Hint: You can check your work by selecting the date on the trial balance tab.) The first 2 transactions are completed for youl Show less A Pease verify that each of your final amounts agrees with the financial statements as of, or for the month ended, January 31
