this is what need to be answered

KL Company Katie Long owns and operates KL Company. Transactions for the month of March have boon ponted to the accounts. An intern has prepared a tral balance from the Taccounts, but there seem to be some errors. Required: 1. In the Transactions panel, descriptions of the transactions for the month of March are provided. Each of the transactions in the Transactions panel has been posted to the accounts. Referring to the accounts, select the date on which each transaction occurred, enter the amount of the transaction, and select the account to debit and credit. 2. The trial balance prepared by the inter can be found in the Trial Balance: Unequal Totals panel. The inter is puzzled by the unoqual totals. Prepare a corrected trial balance on the Trial Balance: Correct panel 3. Compare the trial balance prepared by the Intorn (Trial Balance: Unoqual Totals) to the trial balance that you prepared (Trial Balance: Correct). Use the table provided in the Errors in Trial Balance panel to select the accounts for each type of error 4. The Intern is puzzled and asks "Are you sure the accounting equation is still in balance Using the corrected trial balance you prepared, prove that the accounting equation is in balance. Se puzzled, the Intern asks Why do none of the amounts in the accounting equation equal the totals on the trial balance 7" Explain T accounts Cash 3/1 18,000.00 3/3 2.400.00 3/25 7,650.00 3/27 1,200.00 3/30 8,125.00 3/29 3,375.00 3/31 1,925.00 Accounts Recelvable 3/18 9,950.00 3/30 8,125.00 Supplies 3/7 1,500.00 Equipment 3/2 17,000.00 T accounts Accounts Payable 3/27 1,200.00 3/7 1,500.00 Notes Payable 3/2 17,000.00 Katie Long, Capital 3/1 18,000.00 Katie Long, Drawing 3/31 1,925.00 Fees Earned 3/18 9,950.00 3/25 7,650.00 T accounts 3/1 18,000.00 Katie Long, Drawing 3/31 1,825.00 Fees Earned 3/18 9,950.00 3/25 7,650.00 Rent Expense 3/3 2,400.00 Wages Expense 3/29 3,375.00 Mastery Problem: Analyzing Transactions KL Company Taccounts Transactions Trial Balance: Unequal Totals KL Company UNADJUSTED TRIAL BALANCE March 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 11,125,00 2 Accounts Receivable 1,825.00 5,100.00 3 Supplies Equipment 5 Accounts Payable 17,000.00 300.00 6 Notes Payable 17,000.00 7 Katie Long, Capital 18,000.00 * Katie Long, Drawing 1925.00 9 Fees Earned 2,300.00 10 Rent Expense 2,400.00 11 Wages Expense 3,375.00 12 Totals 35,925.00 44,425.00 Trial Balance: Correct KL Company UNADJUSTED TRIAL BALANCE March 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Supplies Equipment 5 Accounts Payable 6 Notes Payable 7 Katie Long, Capital 8 Katie Long, Drawing 9 Fees Earned 10 Rent Expense 11 Wages Expense 12 Totals Accounting Equation The Intern is puzzied and asks "Are you sure the accounting equation is still in balance 7* Using the corrected trial balance you prepared prove that the accounting equation is in balance Assets Llabilities Owner's Equity Still puzzled, the Intern asks "Why do none of the amounts in the accounting equation equal the totals on the trial balancer Check all apply. O The accounts with credit balances are not all classified in the same element of the accounting equation. For example, not all accounts with credit balances are liabilities. The accounts with debit balances are not all classified in the same element of the accounting equation. For example, not al accounts with debit balances are assets. You point out the total of the assets, liabilities and owner's equity is equal to the sum of the debit and credit totals in the trial balance. The accounts that make up the total for owner's equity have a mix of debit and credit balances. This is because the revenue and expense accounts are part of the owner's equity element. The accounts with debit balances should be part of the total assets. Errors in Trial Balance Compare the trial balance prepared by the Intern (Trial Balance: Unequal Totals) to the trial balance that you prepared (Tral Balance: Correct). In select the accounts for each type of error. Not all accounts contain errors. Error Type Accounts Recolvable Cash Supplies Equipment Accounts Payable Rent Katla Katie Notes Long, Long Fees Payable Capital Drawing Earned Expense O Transposition O Incorrectly reported as a debit @ 3 a . Incorrectly reported as a credit . Balance computed B 0 0 0 incorrectly Date Cro Descriptions of the transactions for the month of March are provided in the following table. Each of the transactions has been posted to the Tad to the accounts, select the date on which each transaction occurred, enter the amount of the transaction, and select the account to dobit and Transaction Amount Debit Katie Long, owner of KL Co. contributed cash to the business. Purchased equipment, giving a note payable for the purchase price Paid rent for April Purchased supplies on account Recorded fees earned on account Received cash for fees camed. Paid creditors on account Pald wages Received cash from customers on account Recorded owner's withdrawal KL Company UNADJUSTED TRIAL BALANCE March 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Supplies Equipment 5 Accounts Payable 6 Notes Payable 7 Katie Long, Capital 8 Katie Long, Drawing 9 Fees Earned 10 Rent Expense 11 Wages Expense 12 Totals The intern is puzzled and asks "Are you sure the accounting equation is still in balance ?" Using the corrected trial balance you prepared, prove that the accounting equation is in balance. Assets Llabilities Owner's Equity F Points: 0/3 Feedback Check My Work Add the balances of all asset accounts, then the balances of all liabilities, and then the balances of all equity accounts. Where do revenue and expense accounts fit into the accounting equation