Transactions Descriptions of the transactions for the month of March are provided in the following table. Each of the transactions that follow has been posted to the T accounts Referring to the accounts, select the date on which each transaction occurred, enter the amount of the transaction and select the account to det! and credit Transaction Date Amount Debit Credit Purchased equipment, giving a note payable for the purchase price Received cash for services performed. KL Company Inc. issued additional shares of common stock in exchange for cash. > Paid creditors on account. Paid wages > Paid rent for April > 66 > Recorded services performed on account KL Company Inc paid GA dividends to its stockholders Received cash from customers on account. Purchased supplies on account Trial Balance: Unequal Totals eBook Calculator Trial Balance: Correct The trial balance prepared by the intern can be found in the Trial Balance Unequal Totals panel. The intern is puzzled by the unequal totals. Prepar corrected trial balance KL Company Inc. UNADJUSTED TRIAL BALANCE March 31, 2017 ACCOUNT TITLE DEBIT 2 Accounts Receivable 3 Supplies + Office Equipment 5 Accounts Payable 6 Notes Payable 7 Common Stock 1 Retained Earnings 9 Dividends 10 Service Revenue 11 Rent Expense 11 Wages Expense 15 Totals Errors in Trial Balance Compare the trial balance prepared by the Intern (Trial Balance: Unequal Totala) to the trial balance that you prepared (Trial Balance Correct in accounts for each type of error. Not all accounts contain errors. Error Accounts Office Accounts Notes Common Retained Book Calculator Errors in Trial Balance Compare the trial balance prepared by the intern (Trial Balance: Unequal Totals) to the trial balance that you prepared (Thiel Balance: Correct). In the following accounts for each type of error. Not al accounts contain errors Error Type Accounts Receivable Office Equipment Accounts Payable Notes Payable Common Stock Cash Supplies Retained Earnings Dividends Fees Earned Rent Expens Amount recorded 0 0 0 0 0 0 0 0 0 0 0 Incorrectly Incorrectly as a debit Incorrectly as a credit Balance Incorrectly Accounting Equation Using the corrected The internis puzzled and asks "Are you sure the accounting equation is in balance Accounting equation is in balance balance you prepared, prove that the Libilities - Stockholders' Equity przed the interne Why do none of the amounts in the accounting equation equal the totals on the balance Check that classified in the same element of the accounting equation For The accounts with debt balances are not balances are assets more of a ccount deb In February, Kate Long formed KL Company Inc Transactions for the month of March have been posted to the counts An interm has prepared a balance from the accounts, but there seem to be Required: 1 In the Transactions panel, descriptions of the transactions for me month of March are provided. Each of the transactions in the transactions panel has been posted to the accounts eleming to the account the date on which each transactions occurred enter the amount of the transaction, and select the account to do and cand 2. The trial balance prepared by the Inter can be found in the Trial Balance: Unequal Total panel The item is punied by the equal to Prepare a corrected trial balance on the Trial Balance Correct panel 3. Compare the trial balance prepared by the indem (al Balance unequal lot to the trial balance that you prepared Balance Comic Use the the provided in the Errors in Thal Balance panel to select the accounts for each type of error 4 The intern is period and asks Are you sure the accounting equations in balance Using the corrected balance you pre prove that the accounting equation is in balance. Soll puzzled the intem asks "Why do none of the amount in the accounting equation equal the locais on the final balance Explain 3 000.00 2,500.00 7,575.00 1.2000 5,000.00 3,325.00 795.00 1,900.00 10.025.00 7,975.00 Cash 8,000.00 2,300.00 7,575.00 3/27 1,200.00 5,000.00 3,525.00 7,975.00 1,900.00 Accounts Receivable 1,950.00 10,025.00 3/30 7,975.00 Supplies 225.00 1,550.00 Office Equipment 16,500.00 Accounts Payable 1,200.00 Bal 1.250.00 3/7 1.550.00 Notes Payable Notes Payable 16,500.00 Common Stock 7,500.00 3/28 5,000.00 Retained Earings 1.425.00 Dividends 1,900.00 Service Revenue 3/18 10,025.00 3/25 7,575.00 Rent Expense 2,300.00 Wages Expense 3,525.00 Transactions Descriptions of the transactions for the month of March are provided in the following table. Each of the transactions that follow has been posted to the T accounts Referring to the accounts, select the date on which each transaction occurred, enter the amount of the transaction and select the account to det! and credit Transaction Date Amount Debit Credit Purchased equipment, giving a note payable for the purchase price Received cash for services performed. KL Company Inc. issued additional shares of common stock in exchange for cash. > Paid creditors on account. Paid wages > Paid rent for April > 66 > Recorded services performed on account KL Company Inc paid GA dividends to its stockholders Received cash from customers on account. Purchased supplies on account Trial Balance: Unequal Totals eBook Calculator Trial Balance: Correct The trial balance prepared by the intern can be found in the Trial Balance Unequal Totals panel. The intern is puzzled by the unequal totals. Prepar corrected trial balance KL Company Inc. UNADJUSTED TRIAL BALANCE March 31, 2017 ACCOUNT TITLE DEBIT 2 Accounts Receivable 3 Supplies + Office Equipment 5 Accounts Payable 6 Notes Payable 7 Common Stock 1 Retained Earnings 9 Dividends 10 Service Revenue 11 Rent Expense 11 Wages Expense 15 Totals Errors in Trial Balance Compare the trial balance prepared by the Intern (Trial Balance: Unequal Totala) to the trial balance that you prepared (Trial Balance Correct in accounts for each type of error. Not all accounts contain errors. Error Accounts Office Accounts Notes Common Retained Book Calculator Errors in Trial Balance Compare the trial balance prepared by the intern (Trial Balance: Unequal Totals) to the trial balance that you prepared (Thiel Balance: Correct). In the following accounts for each type of error. Not al accounts contain errors Error Type Accounts Receivable Office Equipment Accounts Payable Notes Payable Common Stock Cash Supplies Retained Earnings Dividends Fees Earned Rent Expens Amount recorded 0 0 0 0 0 0 0 0 0 0 0 Incorrectly Incorrectly as a debit Incorrectly as a credit Balance Incorrectly Accounting Equation Using the corrected The internis puzzled and asks "Are you sure the accounting equation is in balance Accounting equation is in balance balance you prepared, prove that the Libilities - Stockholders' Equity przed the interne Why do none of the amounts in the accounting equation equal the totals on the balance Check that classified in the same element of the accounting equation For The accounts with debt balances are not balances are assets more of a ccount deb In February, Kate Long formed KL Company Inc Transactions for the month of March have been posted to the counts An interm has prepared a balance from the accounts, but there seem to be Required: 1 In the Transactions panel, descriptions of the transactions for me month of March are provided. Each of the transactions in the transactions panel has been posted to the accounts eleming to the account the date on which each transactions occurred enter the amount of the transaction, and select the account to do and cand 2. The trial balance prepared by the Inter can be found in the Trial Balance: Unequal Total panel The item is punied by the equal to Prepare a corrected trial balance on the Trial Balance Correct panel 3. Compare the trial balance prepared by the indem (al Balance unequal lot to the trial balance that you prepared Balance Comic Use the the provided in the Errors in Thal Balance panel to select the accounts for each type of error 4 The intern is period and asks Are you sure the accounting equations in balance Using the corrected balance you pre prove that the accounting equation is in balance. Soll puzzled the intem asks "Why do none of the amount in the accounting equation equal the locais on the final balance Explain 3 000.00 2,500.00 7,575.00 1.2000 5,000.00 3,325.00 795.00 1,900.00 10.025.00 7,975.00 Cash 8,000.00 2,300.00 7,575.00 3/27 1,200.00 5,000.00 3,525.00 7,975.00 1,900.00 Accounts Receivable 1,950.00 10,025.00 3/30 7,975.00 Supplies 225.00 1,550.00 Office Equipment 16,500.00 Accounts Payable 1,200.00 Bal 1.250.00 3/7 1.550.00 Notes Payable Notes Payable 16,500.00 Common Stock 7,500.00 3/28 5,000.00 Retained Earings 1.425.00 Dividends 1,900.00 Service Revenue 3/18 10,025.00 3/25 7,575.00 Rent Expense 2,300.00 Wages Expense 3,525.00