Wie 3 - Apply: Summative Assessment (due Day 71 2 525 Ronnie Walsh opens a web consulting business called Walsh Consulting and completes the following transactions in March Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements MAE 1 Walb Lavested $216.000 cash along with 324,200 hortio quant in the company 2. The company prepaid 510.000 cash for is month rent for anottice. The company policy is totalt penses in balance sheet accounts HAE The company made credit purch of office equipment for 55,200 and office supplies for 35,400. Pants within 10 days. KA The company completed services for tient and mediately received 56.200 cash Har 9 The company completed a 59,700 project to a client, who must pay within 30 days Ar. 12 The company paid 58, 600 cash to settle the account payable created on March ). Mar. 19 The company paid $8,300 cash for the premium on a 12-month inne polley. The company's polley leto prepaid expens in balance sheet account Mar. 22 The company received 55,00 cash as partial payment for the work completed on March Mar. 25 The company completed work for another client for 16,100 on credit Mar 29 Walsh withdrev 05,700 cash from the company for personal us Mar. 30 The company purchased 31,200 of additional office supplies on credit Mar. The company paid $1,100 cash for the monthly Bus General General Income St Danes Impact on Requirement Balance Sheet That Balance Journal Equity Statement Ledger Equity Each journal entry is posted automatically to the general ledger. Think of the general ledger as sorting all of your journal entries by account title Click on any of the individual amount to return to the underlying journal entry. General Langer Account Dat is not available joumantrios have been red Tre Balance (General Journal 2. LA MOU www pay w Mar. 12 The company paid $8,600 canh to settle the account payable created on March 3. Mar. 19 the company paid $8,300 cash for the premium on a 12-month insurance policy. The company policy is to record prepaid expenses in balance sheet accounts. Har. 22 The company received $5,000 cash as partial payment for the work completed on March 9. Mar 25 The company completed work for another client for $6,100 on credit. Mar. 29 Walsh withdrew $5,700 cash from the company for personal use. Mar. 30 The company purchased $1,200 of additional office supplies on credit. Mar. 31 The company paid $1,100 cash for this month's utility bil. General Joumal General Ledger Requirement Trial Balance Income Statement Balance Sheet St Owners Equity Impact on Equity Every journal entry must keep the accounting equation in balance Prepare the journal entries for each of the transactions of Walsh Consulting, entering the debits before the credits. Each transaction will automatically be posted to the General Ledger and the Trial Balance as soon as you click "Record Entry" Show less View transaction list View journal entry worksheet Dobit Credit Date No 1 Account Title No Transaction Recorded Mar 01 2 Mar 02 No Transaction Recorded Requirement General Ledger Mar. 22 The company received $5,800 cash as partial payment for the work completed on March. Mar. 25 The company completed work for another client for 36,100 on credit Mar. 29 Walsh withdrew $5,700 cash from the company for personal use. Mar. 30 The company purchased $1.200 of additional office wupplies on credit. Mar. 31 The company paid $1,100 cash for this month's utility bill. General Journal General Ledger Requirement Trial Balance Income Statement St Owners Equity Balance Sheet Impact on Equity The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying Journal entries. If the total debits do not equal the total credits, you there is journal entry that is out of balance. If you have an abnormal ending balance (Indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct Show less Walsh Consulting Tal Balando March 31, 2010 Debit Credit Account Title OS 0 Total General Ledger Income Statement Mar. 30 The company purchased $1,200 of additional office supplies on credit Mar. 31 The company paid $1,100 cash for this month's utility bil. General General Income St Owners Impact on Requirement Balance Sheet Trial Balance Journal Ledger Statement Equity Equity Using the dropdown buttons, select the financial statement elements and account titles to be included on the income statement. The account balances will automatically populate. Walsh Consulting Income Statement For Month Ended March 31, 2019 St Owners Equity Trial Balance Mar. 31 The company paid $1,100 cash for this month's utility bill. General General Income St Owners Trial Balance Requirement Impact on Balance Sheet Journal Ledger Statement Equity Equity Using the dropdown buttons, select the item that accurately describes the values that either increase or decreas owner's capital balance. Walsh Consulting Statement of Owner's Equity For Month Ended March 31, 2019 R. Walsh, Capital, March 1, 2019 $ 0 R. Walsh, Capital, March 31, 2019 Balance Sheet