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The financial statements report the cumulative impact of all transactions recorded as of the financial statement cumulative amount of a) Net Income (Loss), b) Total
The financial statements report the cumulative impact of all transactions recorded as of the financial statement cumulative amount of a) Net Income (Loss), b) Total Assets, c) Total Liabilities, and d) Total Equity that would be reported on the financial 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 you!! ces Transaction: Where can you go to find each of your answers? January 1-S. Lewis, owner, invested $163,750 cash in the company in exchange for common stock. January 2-The company purchased supplies for $3,350 cash. January 3 The company purchased $12,050 of equipment on credit. January 4-The company received $19,700 cash for services provided to a customer. January 5-The company paid $12,050 cash to settle the payable for the equipment purchased on January 3. January 6- The company billed a customer $4,800 for services provided. Jan. 7-The company paid $3,325 cash for the monthly rent January 8-The company collected $2,700 cash as partial payment for the account receivable created on January 6. January 9-The company paid $13,100 cash in dividends to the owner (sole shareholder). Show less A Net Income Total Assets Total Liabilities Total Equity $ 0 $ 163,750 $ 0 $ 163,750 0 163,750 0 163,750
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