Requirement General Journal General Ledger Trial Balance Income statement. St Owners Equity Balance Sheet Impact on Equity 3ook General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. Ust debits before credits. Each journal entry is automatically posted to the General Ledger. General Ledger Tab - 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. Abnormal balances appear in parentheses. Click on any amount to see the underlying journal entry. Trial Balance Tab - 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. If your trial balance doesn't balance, review your journal entries on the general journal tab. Income Statement Tab - Using the dropdown buttons, select the financial statement elements and account titles to be Included on the income statement. The account balances will automatically populate. Statement of Owner's Equity Tab - Using the dropdown buttons, select the item that accurately describes the values that either increase or decrease the owner's capital balance. Balance Sheet Tab - Using the dropdown buttons, select the financial statement elements and account titles to be included on the balance sheet. The account balances will automatically populate Impact on Equity Tab - Using the dropdown buttons, indicate the impact each item has on total equity. Compare the total with the amount of equity reported on the balance sheet General Journal > On October 1, 2017, Connor Brady launched a computer services company called Solid Systems, which provides consulting services, computer system installations, and custom program development. Brady adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2017 Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. Oct. 1 C. Brady invested $129,000 cash, a $22,800 computer system, and $8,000 of office equipment in the company. Oct. 2 The company paid $3,600 cash for four months' rent. The company's policy is to record prepaid expenses in balance sheet accounts.) Oct. 3 The company purchased $4,200 of computer supplies on credit from Green Office Products. Oct. 5 The company paid $4,200 cash for one year's premium on a property and liability insurance policy. (The company's policy is to record prepaid expenses in balance sheet accounts.) Oct. 6 The company billed Hughes Leasing $7,600 for services performed in installing a new web server. Oct. The company paid $4,200 cash for the computer supplies purchased from Green Office Products on October 3. Oct. 10 The company hired Mary Potter as a part-time assistant for $225 per day, as needed. Oct. 12 The company billed Hughes Leasing another $7.000 for services performed. Oct. 15 The company received $7,6e0 cash from Hughes Leasing as partial payment on its account. Oct. 17 The company paid $1,600 cash to repair computer equipment that was damaged when moving it. Oct. 20 The company paid $2,500 cash for advertisements published in the local newspaper. Oct. 22 The company received $7,000 cash from Hughes Leasing on its account. Oct. 28 The company billed GHK Company $6,000 for services performed. Oct. 31 The company paid $1,575 cash for Mary Potter's wages for seven days' work. Oct. 31 C. Brady withdrew 19,000 cash from the company for personal use. Nov. 1 The company reimbursed c. Brady in cash for business automobile mileage allowance (Brady logged 1,000 miles at $0.32 per mile) Nov. 2 The company received $5,400 cash from Clark Corporation for computer services performed. Nov. S The company purchased computer supplies for $1,600 cash from Green Office Products. Nov. 8 The company billed Byrnes Co. $2,400 for services performed. Nov. 13 The company received notification from Kelley Engineering Co. that Solid Systens bid of $4.350 for an upcoming project is accepted. Nov. 18 The company received $3,600 cash from GHK Company as partial payment of the October 28 bill. Nov. 22 The company donated $500 cash to the United May in the company's name. Nov. 24 The company completed work for Kelley Engineering Co. and sent it a bill for $5,100. Nov. 25 The company sent another bill to GHK Company for the past-due amount of $2,400. Nov. 28 The company reimbursed C. Brady in cash for business automobile mileage (1.200 miles at se.32 per mile). Nov. 30 The company paid $3.150 cash for Mary Potter's wages for 14 days' work. Nov. 30 C. Brady withdrew $2,000 cash from the company for personal use. Uct. 16. Brady invested $129,000 cash, a $22,800 computer system, and 58,eee of office equipment in the company. Oct. 2 The company paid $3,600 cash for four months' rent. The company's policy is to record prepaid expenses in balance sheet accounts.) Oct. 3 The company purchased $4,200 of computer supplies on credit from Green Office Products Oct. 5 The company paid 54,200 cash for one year's premium on a property and liability insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts.) Oct. 6 The company billed Hughes Leasing $7,500 for services performed in installing a new web server Oct. 8 The company paid $4,200 cash for the computer supplies purchased from Green Office Products on October 3. Oct. 12 The company hired Mary Potter as a part-time assistant for $225 per day, as needed. Oct. 12 The company billed Hughes Leasing another $7.ee for services performed. Oct. 15 The company received $7.600 cash from Hughes Leasing as partial payment on its account. Oct. 17 The company paid $1,600 cash to repair computer equipment that was damaged when moving it. Oct. 20 The company paid $2,5ee cash for advertisements published in the local newspaper. Oct. 22 The company received $7,000 cash from Hughes Leasing on its account. Oct. 28 The company billed GK Company 56,000 for services performed. Oct. 31 The company paid $1,575 Cash for Mary Potter's wages for seven days' work. Oct. 31 C. Brady withdrew $9,000 cash from the company for personal use. Nov. 1 The company reimbursed C. Brady in cash for business automobile mileage allowance (Brady logged 1,000 miles at 38.32 per milel. Nov. 2 The company received 35,400 cash from Clark Corporation for computer services performed. Nov. S The company purchased computer supplies for $1,600 cash from Green Office Products. Nov. 8 The company billed Byrnes Co. $2,400 for services performed. Nov. 13 The company received notification from Kelley Engineering Co. that Solid Systems' bid of $4,350 for an upcoming project is accepted. Nov. 18 The company received $3,600 cash from a company as partial payment of the October 28 bill. Nov. 22 The company donated $500 cash to the United way in the company's nane. Nov. 24 The company completed work for Kelley Engineering Co. and sent it a bill for $5,100. Nov. 25 The company sent another bill to GHK Company for the past-due amount of $2,400. Nov. 28 The company reimbursed C. Brady in cash for business automobile mileage (1.200 miles at $0.32 per mile) Nov. 30 The company paid $3,150 cash for Mary Potter's wages for 14 days work. Nov. 30 C. Brady withdrew $2,800 cash from the company for personal use. General Income St Owners Requirement General Ledger impact on Coty Balance She touty The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you there is journal entry that is out of balance. If you have an abnormal ending balance indicated with brackets in the general ledger, you should review the journal entries that affected that account to ensure that the yournal entries are correct