Requirement General Journal General Ledger Trial Balance Income Statement St of Retained Earnings Balance Sheet Impact on Income You may view elther the unadjusted or adjusted trial balance by choosing from the drop-down box below. Your choice will determine the reported values on the financial statement tabs. Unadjusted SOUD SYSTEMS Trial Balance April 30, 2022 Account Title Debit Credit $ 66,480 22,200 7,400 3,120 10,800 48,100 Cash Accounts receivable office supplies Prepaid insurance Prepaid rent Office equipment Accounts payable Common stock Dividends Services revenue Utilities expense Total 3,400 129,000 5,900 34,300 2,700 166,700 $ 166,700 April Mohr opened a web consulting business called Solid Systems and recorded the following transactions in its first month of operations April 1 Mohr invests $89,000 cash along with office equipent valued at $40,000 in the company in exchange for common stock. April 2 The company prepaid $10,800 cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $3,100 in office equipment and $4,000 in office supplies. Payment is due within 10 days. April 6 The company completed services for a client and immediately received 57,600 cash. April 9 The company completed a $20,000 project for a client, who sust pay within 30 days. April 13 The company paid $12,100 cash to settle the account payable created on April 3. April 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,500 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $6,700 on credit. April 28 The company paid $5,900 cash in dividends. April 29 The company purchased $3,400 of additional office supplies on credit, April 30. The company paid $2,700 cash for this month's utility bill. Descriptions of items that require adjusting entries on April 30, follow. a) On April 2, the company prepaid $10,800 cash for twelve months rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office Supplies on hand as of April 30 total $1,600 d) Straight-line depreciation of office equipment, based on a 5-year life and a $9,100 salvage value, is $650 per month e) The company has completed work for a client, but has not yet billed the $2,600 fee Wages due to employees, but not yet paid, as of April 30 total $3.000 General Journal tab -For each transaction, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances. Trial Balance tab - You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs. Income Statement tab - Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjusted balances will appear for each account, based on your selection. Statement of Retained earnings tab - The unadjusted or adjusted balances will appear for each account, based on your selection. Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Impact on Income tab -For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the dropdown.)