1 ts GLO202 (Algo) - Based on Exercise 2-13 Return Prepare journal entries for each transaction...

  

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1 ts GLO202 (Algo) - Based on Exercise 2-13 Return 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. January 1 K. Wright, owner, invested $154,750 cash in the company in exchange for common stock. January 2 The company purchased supplies for $3,050 cash.. January 3 The company purchased $14,050 of equipment on credit. January 4 The company received $19,100 cash for services provided to a customer. January 5 The company paid $14,050 cash to settle the payable for the equipment purchased on January 3. January 6 The company billed a customer $4,500 for services provided.. January 7 The company paid $3,025 cash for the monthly rent. January 8 The company collected $2,475 cash as partial payment for the account receivable created on Januas January 9 The company paid $12,500 cash in dividends to the owner (sole shareholder). Answer is not complete. 1 nts General Journal Requirement Income Statement St Retained Earnings Review the statement of retained earnings and indicate how the statement is linked to the other financial statements. Wright Company Statement of Retained Earnings For Month ended January 31, 2021 Retained earnings, January 1, 2021 Add: Net income General Ledger Retained earnings, January 31, 2021 Ending retained earnings is transferred to the: Trial Balance $ 0 0 0 <Income Statement Balance Sheet Balance Sheet > Re FS Impact 1 ts GLO202 (Algo) - Based on Exercise 2-13 Return 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. January 1 K. Wright, owner, invested $154,750 cash in the company in exchange for common stock. January 2 The company purchased supplies for $3,050 cash.. January 3 The company purchased $14,050 of equipment on credit. January 4 The company received $19,100 cash for services provided to a customer. January 5 The company paid $14,050 cash to settle the payable for the equipment purchased on January 3. January 6 The company billed a customer $4,500 for services provided.. January 7 The company paid $3,025 cash for the monthly rent. January 8 The company collected $2,475 cash as partial payment for the account receivable created on Januas January 9 The company paid $12,500 cash in dividends to the owner (sole shareholder). Answer is not complete. 1 nts General Journal Requirement Income Statement St Retained Earnings Review the statement of retained earnings and indicate how the statement is linked to the other financial statements. Wright Company Statement of Retained Earnings For Month ended January 31, 2021 Retained earnings, January 1, 2021 Add: Net income General Ledger Retained earnings, January 31, 2021 Ending retained earnings is transferred to the: Trial Balance $ 0 0 0 <Income Statement Balance Sheet Balance Sheet > Re FS Impact

Answer rating: 100% (QA)

DATE JANI JAN 2 OFFICE JANS JAN C PARTICULARS CASH AC JAN 7 JAN 3 OFFICE EQUIPMENT AC TO CRED... View the full answer