The following data provides the information that is needed for the question: general journal entry & ledger, trial balance, income statement, balance sheet & impact on income.

Elite Systems began operations on October 1, 2017. The November 30, 2017 unadjusted trial balance is included on the trial balance tab. Record the following transactions and events for December, 2012 2 Paid $1.33e cash to Southside Mall for Elite Systens share of all advertising costs. 3 Paid $70e cash for minor repairs to the conpany's computer. 4 Received $5,800 cash from Potter Engineerin Co. for the receivable from Novenber. Dec. Dec. Dec. Dec. 10 Paid cash to Nina Kelley for six days of work at the rate of $18e per day. Dec. 14 Notified by Potter Engineering Co. that lite Systens bid of S8,000 on a proposed project has been accepted. Potter paid a $2,000 cash advance to Elite Systens. Dec. 15 Purchased $1,6ee of computen supplies on credit from Kennedy 0Ffice Products. Dec. 16 Sent a reminder to Fox Co. to pay the fee for services recorded on November 8 Dec. 20 Completed a project for Clark Corporation and received 56,600 cash. Dec. 28 Received $3,48e cash from Fox Co. on its receivable. Dec. 29 Reimbursed D. Kelley for business autonobile mileage (see iles at se.32 per nile). Dec. 31 D. Kelley withdrew $1,900 cash from the company for personal use. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: 0. The December 31 inventory count of computer supplies shows $980 still avalable. b. Three months have expired since the 12-month insurance premium was paid in advance c. As of December 31, Nina Kelley has not been paid for four days of work at $180 per day. d. The computer system, acquired on October 1, is expected to have a fouryear life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year ife with no salvage value. t. Three of the four months' prepaid rent has expired General Journal St Ouners Equity Impact on Income General Ledger Income Statement Trial Balance Balance Sheet Requirement The unadjusted or adjusted Use the drop downs to select the accounts properly included on the income statement. balances will appear for each account, based on your selection. Adjusted EITE SYSTEMS Income Statement For Three Months Ended December 31, 2017 Revenues Expenses Net income S Oers E y > Trial Balance Elite Systems began operations on October 1, 2017. The November 30. 2017 unadjusted trial balance is included on the trial balance tab. Record the following transactions and events for December, 2017. Dec. Dec. Dec. Dec. 1e Paid cash to Nina Kelley for six days of work at the rate of $1 per day. Dec. 14 Notified by Potter Engineering Co. that Elite Systems bid of $8,000 on a proposed project has been accepted. Potter paid a 2 Paid $1,33e cash to Southside Mall for Elite Systens share of mall advertising costs. 3 Paid $70e cash for sinor repairs to the company's conputer. 4 Received $5,800 cash fron Potter Engineering Co. for the receivable from Novenber $2,e0e cash advance to Elite Systens. Dec. 15 Purchased $1,60e of conputer supplies on credit from Kennedy Office Prodacts. Dec. 16 Sent a reninder to Fox Co. to pay the fee for services recorded on Novenber 8. Dec. 20 Completed a project for Clark Corporation and received $6,600 cash. Dec. 28 Received $3,400 cash from Fox Co. on its receivable. Dec. 29 Reinbursed D. Kelley for business autonobile mileage (689 miles at se.32 per mile). Dec. 31 0. Kelley withdrew $1,900 cash from the company for personal use. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: a. The December 31 inventory count of computer supplies shows $980 still available. b. Three months have expired since the 12-month insurance premium was paid in advance c. As of December 31. Nina Kelley has not been paid for four days of work at $180 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year ife with no salvage value t. Three of the four months" prepaid rent has expired General Journal General Ledger St Oeners Equity Income Statement Impact on Income Balance Sheet Requirement Trial Balance General Journal tab - Prepare journal entries for each of the December transactions. Then, using the information given for adjustments, prepare the adjusting entry necessary to correctly report the revenue earned or the exepense incurred. After adjusting the accounts, reviewe 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 drepdown box beleve 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 Owner's Equity 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 belance 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. (Hinti Select unadjusted on the dropdown,) General Jounal> Elite Systems began operations on October 1,2017. The November 30, 2017 unadjusted trial balance is included on the trial balance tab. Record the following transactions and events for December, 2017. Dec. 2 Paid $1.33e cash to Southside Mall for Elite Systens share of nall advertiiing costs. Dec. 3 Paid S700 cash for minor repairs to the company's computer. 4 Received $5,8ee cash from Potter Engineering Co. for the receivable from Novenber Dec. Dec. 10 Paid cash to Nina Kelley for six days of work at the rate of $1se per day. Dec. 14 Notified by Potter Engineering Co. that Elite Systees bid of S8,00 ona proposed project has been accapted. Potter paid a $2,00e cash advance to Elite Systens. Dec. 15 Purchased $1,600 of computer supplies on credit from kennedy office Products. Dec. 16 Sent a reninder to Fox Co. to pay the fee for services recorded on Novenber & Dec. 20 Completed a project for Clark Corporation and received 56,6ee cash. Dec. 28 Received $3,40e cash from Fox Co. on its recelvable. Dec. 29 Reimbursed D. Kelley for business automobile sileage (e les at se.32 per mite). Dec. 31 D. Kelley withdrew $1.9ee cash from the conpany for personal use. The following additional facts are collected for use in making adjusting entries prior to prepering financial statements for the company's first three months: a. The Decemiber 31 inventory count of computer supplies shows $980 st available b. Three months have expired since the 12-month insurance premium was paid in advance s. As of December 31, Nina Kelley has not been paid for four days of work at $180 per day d. The computer system, acquired on October 1 is expected to have a four-year life with no salvage value e. The office equipment, acquired on October 1, is expected to have a five-year ife with no salvege value 1. Three of the four months prepaid rent has expired General Ledger St Owners (quity General Journal Income Statement Impact on Income Trial Balance Requirement Balance Sheet Prepare journal entries for each of the December transactions. If no journal entry is required, select "No journal entry required" in the first account field. Then, using the 3-step adjusting entry process, and the information given for adjustments, prepare the adjusting entry necessary to correctly report the revenue eamed or the expense incurred. Alter adjusting the accounts, review the general ledger and trial balance for accuracy. Show leas View tansaction list Journal entry worksheet 17 ..... Paid $1.330 cash to Southside Mall for Elite Systems' share of mall advertising costs. Note trde debits before creds Credit Debit Acceunt Title Date 1.330 Dee 02 Advertising expense 1.330 Cash View geneal jornal Clear enty Recond entry General Ledger> Elite Systems began operations on October 1, 2017. The November 30, 2017 unadjusted trial balance is included on the trial balance tab. Record the following transactions and events for December, 2017. 2 Paid $1,33e cash to Southside Hall for Elite Systens' share of sall advertising costs. 3 Paid $7ee cash for sinor repairs to the company's computer. 4 Received $5,880 cash fron Potter Engineering Co. for the receivable fron Novenber. Dec. Dec. Dec. Dec. 10 Paid cash to Nina Kelley for six days of work at the rate of $18e per day. Dec. 14 Notifled by Potter Engineering Co. that Elite Systens bid of $8,e0e on a proposed project has been accepted. Potter paid a $2,800 cash advance to Elite Systens. Dec. 15 Purchased $1,600 of computer supplies on credit from Kennedy office Products. Dec. 16 Sent a reninder to Fox Co. to pay the fee for services recorded on November 8. Dec. 20 Completed a project for Clark Corporation and received $6, 60e cash. Dec. 28 Received $3,400 cash from Fax Co. on its receivable. Dec. 29 Reimbursed D. Kelley for business automobile ileage (600 miles at se.32 per mile). Dec. 31 D. Kelley withdre $1,900 cash from the company for personal use. The following additional fects are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: a. The December 31 inventory count of computer supples shows $980 still availeble. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Nina Kelley has not been paid for four days of work at $180 per day d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year ife with no salvage value. 1. Three of the four months' prepaid rent has expired St OwnersRalance Sheet Equity Impact on Income General Ledger General Journal Income Statement Trial Balance Requirement 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 drop down.) Shew less Adjusted Account affecting the Impact on net income Balance Sheet Income Statement Adjusting entry related to a) Compuler supplies Computer supplies expense Computer supples Prepaid insurance Insurance expense D) Prepaid insurance Wages expense Wages payable e) Acorued wages Acoumulated depreciation Computer equipmert Accumulated depreciation- Ofce epmerd Depreciation expense- Computer eqipment Depreciation expense Office ecuipment Rent expense 4) Deprecialtion Computer eipment ) Depreciation - Ofice euipment n Prepaid rent Inpa oco ( Balance Sheet