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This problem is based on the transactions for the kind Matters Company in your text. Prepare journal entries for each transaction and identify the financial

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This problem is based on the transactions for the kind Matters Company in your text. Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded December 1 on December 1, Jim Kennedy forms consulting business, named Kind Mutters. Kind Matters receives 542,000 cash from in December 2 Kind Hotters pays $3,100 cash for supplies. The company's policy is to record all prepaid expenses in asset accounts. December ) Kind Matters pays 338,000 cash for equipment. December 4 kind Matters purchases $5,050 of supplies on credit fron a supplier, CalTech Supply. December 5 Kind Matters provides consulting services and immediately collects 54,800 cash. December 6 Kind Matters pays $1,600 cash for December rent. December 7 Kind Matters pays $1,300 cash for employee salary. December & Kind Matters provides consulting services of $2,200 and rents Its test facilities for $900. The customer is billed $3,100 for these services. December 9 Kind Matters receives $3,100 cash from the client billed on December 8. December 10 Kind Matters pays CalTech Supply $1,500 cash as partial payment for its December 4 $8,050 purchase of supplies. December 11 Jim Kennedy withdraws $300 cash from Kind Matters for personal use. December 12 Kind Matters receives $3,000 cash in advance of providing consulting services to a customer. The company's policy is to record fees collected in advance in a balance sheet account. December 13 Kind Matters pays $3,000 cash (Insurance premium) for a 24-month insurance policy. Coverage begins on December 1. The company's policy is to record all prepaid expenses in a balance sheet account. December 14 Kind Matters pays 5720 cash for supplies. December 15 kind Hatters pays $905 cash for December utilities expense. December 16 Kind Matters pays $1,000 cash in employee salary for work performed in the latter part of December Financial General General Income Statement Trial Balance Balance Sheet Requirement Statement Journal Ledger Statement Owners Equity Impact The financiat catamant rennt the numatu mnant of all tancartine the financialment dat not the o search Net Income Total Liabilities Transaction: Total Assets Total Equity $ 0 $ 0 $ 42,000 0 42,000 $ 42,000 42,000 0 42,000 42,000 0 0 Where can you go to find each of your answers? December 1 - Kind Matters receives $42,000 cash from Jim Kennedy as an owner contribution December 2 - Pays $3,100 cash for supplies December 3 - Pays $38,000 cash for equipment December 4 - Purchases $8,050 of supplies on credit from a supplier December 5 - Provides consulting services and immediately collects $4,800 cash December 6 - Pays $1.600 cash for December rent December 7 - Pays $1,300 cash for employee salary December 8 - Provides consulting services of $2,200 and rents its test facilities for $900. The customer is billed $3,100 for these services December 9 - Receives $3.100 cash from the client billed on December 8 December 10 - Pays CalTech Supply $1,500 cash toward the payable from December 4 December 11 - Jim Kennedy withdraws $800 cash for personal use December 12 - Receives $3,600 cash in advance of providing consulting services to a customer December 13 - Pays $3,000 cash (insurance premium) for a 24-month insurance policy. Coverage begins on December 7 - Pays $1,300 cash for employee salary December 8 - Provides consulting services of $2,200 and rents its test facilities for $900. The customer is billed $3,100 for these services December 9 - Receives $3,100 cash from the client billed on December 8 December 10 - Pays CalTech Supply $1,500 cash toward the payable from December 4 December 11 - Jim Kennedy withdraws $800 cash for personal use. December 12 - Receives $3,600 cash in advance of providing consulting services to a customer December 13 - Pays $3,000 cash (insurance premium) for a 24-month insurance policy Coverage begins on December 1 December 14 - Pays $720 cash for supplles. December 15. Pays $905 cash for December utilities expense December 16 - Pays $1,000 cash in employee salary for work performed in the latter part of December

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