September 1,3,5,7,9,11,13,15,17,19,21,23,25,27

GLO207 (Algo) - Based on Problem 2-4A LO A1, P1 Business transactions completed by Susan Allen during the month of September are as follows. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. September 1 Allen invested $108,000 cash along with office equipment valued at $26,600 in a new sole proprietorship named SA Consulting September 3 The company purchased land valued at $40,000 and a building valued at $161,600. The purchase is paid with $31,600 cash and a long-term note payable for $170,000. September 5 The company purchased $3,600 of office supplies on credit. September 7 Allen invested a personal automobile in the company. The automobile has a value of $19,700 and is to be used exclusively in the business. September 9 The company purchased $7,700 of additional office equipment on credit. September 11 The company paid $3,000 cash salary to an assistant. September 13 The company provided services to a client and collected $5,500 cash. September 15 The company paid $1,400 cash for this month's utilities. The company paid $3,600 cash to settle the account payable created on September 5. September 19 The company purchased $20,300 of new office equipment by paying $20,300 cash. September 21 The company completed $7,000 of services for a client, who must pay within 30 days. September 23 The company paid $3,000 cash salary to an assistant. September 25 The company received $5,000 cash in partial payment on the receivable created on September 21. September 27 Allen withdrew $2,800 cash from the company for personal use. September 17 ces Requirement General Journal General Ledger Trial Balance Income Statement Statement Owners Equity Balance Sheet Impact on Equity General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List 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. September 27. Allen withdrew $2,800 cash from the company for personal use. Requirement General Journal General Ledger Trial Balance Income Statement Statement Owners Equity Balance Sheet Impact on Equity Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the trans Consulting, entering the debits before the credits. Each transaction will automatically be posted to the General Led Balance as soon as you click "Record Entry". View transaction list Journal entry worksheet September 1) Allen invested $108,000 cash along with office equipment valued at $26,600 in a new sole proprietorship named SA Consulting. Note: Enter debits before credits. Account Title Debit Credit Date September 01 Record entry Clear entry View general journal General Journal Requirement General Ledger Statement Trial Balance Income Statement Owners Equity Balance Sheet Impact on Equity 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 journal entries are correct. Show less SA Consulting Trial Balance September 27, 2021 Account Title Debit Credit Total S 0 $ 0 General Journal Requirement General Ledger Trial Balance Income Statement Statement Owners Equity Impact on Equity Balance Sheet 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. SA Consulting Income Statement For Month Ended September 30 ces Requirement General Journal General Ledger Trial Balance Income Statement Statement Owners Equity Balance Sheet Impact on Equity Using the dropdown buttons, select the item that accurately describes the values that either increase or decrease the owner's capital balance. SA Consulting Statement of Owner's Equity For Month Ended September 30 S. Allen, Capital, September 1 S Allen, Capital, September 30 The ending capital balance is transferred to the September 25 The company received $5,000 cash in partial payment on the receivable created on September 21. September 27 Allen withdrew $2,800 cash from the company for personal use. Requirement General Journal General Ledger Trial Balance Income Statement Statement Balance Sheet Owners Equity Impact on Equity 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. SA Consulting Balance Sheet September 30 Statement Requirement General Joumal General Ledger Trial Balance Income Statement Owners Equity Balance Sheet Impact on Equity While the balance sheet reports the detail of individual assets and liabilities, owner's equity is reported in total. The expanded accounting equation shows the four subsets of equity: Revenues, Expenses, Owner investments and Owner withdrawals. Using the dropdown buttons, indicate the impact each transaction has on total equity (if any). Compare the total with the amount of equity reported on the balance sheet. Show less Impact on Equity Transaction September 1) Allen invested 5108,000 cash along with office equipment valued at $25.600 in a new sole proprietorship named SA Consulting September 3) The company purchased land valued at $40,000 and a building valued at $161,600. The purchase is paid with $31,600 cash and a long-term note payable for $170,000. September 5) The company purchased $3,600 of office supplies on credit. September 7) Allen invested a personal automobile in the company. The automobile has a value of $19.700 and is to be used exclusively in the business September ) The company purchased $7.700 of additional office equipment on credit. September 11) The company paid $3.000 cash salary to an assistant September 13) The company provided services to a client and collected $5.500 cash. September 15) The company paid $1.400 cash for this month's utilities September 17) The company paid $3.600 cash to settle the account payable created on September 5. September 19) The company purchased $20.300 of new office equipment by paying $20.300 cash. September 21) The company completed $7.000 of services for a client, who must pay within 30 days. September 23) The company paid $3,000 cash salary to an assistant September 25) The company received $5.000 cash in partial payment on the receivable created on September 21. September 27) Alien withdrew $2,800 cash from the company for personal use. Total impact on equity