company called
Computer Solutions, which provides consulting services, computer
system installations,
and custom program development. Santana adopts the calendar year
for reporting
purposes and expects to prepare the company’s first set of
financial statements on
December 31, 2021. The company’s initial chart of accounts
follows
- On October 1 2021 Ramona Santana Launched A Computer Services Company Called Computer Solutions Which Provides Consul 1 (134.3 KiB) Viewed 14 times
system, and $5,000
of office equipment in the company in exchange for its common
stock.
2 The company paid $4,500 cash for four months' rent. (Use
Prepaid Rent
account.)
2 The company purchased additional computer equipment for $17,000
cash.
3 The company purchased $1,600 of computer supplies on credit
from Harris
Office Products.
5 The company paid $4,380 cash for one year's premium on a property
and
liability insurance policy. The company initially records insurance
as a
prepaid expense.
6 The company billed West Leasing $4,300 for services performed
in
installing a new Web server.
8 The company paid $1,600 cash for the computer supplies
purchased from
Harris Office Products on October 3.
10 The company hired Lyn Addie as a part-time assistant for $150
per day, as
needed.
12 The company billed West Leasing another $2,600 for services
performed.
15 The company received $4,300 cash from West Leasing as partial
payment
on its account.
17 The company paid $805 cash to repair computer equipment that
was
damaged when moving it.
20 The company paid $1,375 cash for advertisements published in
the local
newspaper.
22 The company received $2,600 cash from West Leasing on its
account.
28 The company billed IFM Company $5,340 for services
performed.
31 The company paid $1,200 cash for Lyn Addie's wages for eight
days' work.
31 The company paid $3,600 cash in dividends.
Nov.
1 The company reimbursed R. Santana in cash for business
automobile
mileage allowance (Santana logged 1,000 miles at $0.32 per
mile).
2 The company received $5,325 cash from Liu Corporation for
computer
services performed.
5 The company purchased computer supplies for $1,075 cash from
Harris
Office Products.
8 The company billed Gomez Co. $5,750 for services
performed.
13 The company received notification from Alex's Engineering Co.
that
Computer Solutions' bid of $3,950 for an upcoming project was
accepted.
Alex's paid a $2,000 cash advance to Business Solutions.
18 The company received $2,340 cash from IFM Company as partial
payment
of the October 28 bill.
22 The company donated $400 cash to the United Way in the
company's
name.
24 The company completed work for Alex's Engineering Co. and
billed them
$1,950, which is the total price of $3,950 lest the cash advance of
$2,000.
25 The company sent another bill to IFM Company for the past-due
amount of
$3,000.
28 The company reimbursed R. Santana in cash for business
automobile
mileage (1,200 miles at $0.32 per mile).
30 The company paid $2,100 cash for Lyn Addie's wages for 14
days' work.
30 The company paid $2,500 cash in dividends.
Dec.
2 Paid $1,025 cash to Hilltop Mall for Computer Solutions' share
of mall
advertising costs.
3 Paid $500 cash for minor repairs to the company's
computer.
4 Received $1,950 cash from Alex's Engineering Co. for the
receivable from
November.
10 Paid cash to Lyn Addie for six days of work at the rate of
$150 per day.
14 Notified by Alex's Engineering Co. that Computer Solutions'
bid of $9,000
on a proposed project has been accepted. Alex's paid a $3,000
cash
advance to Business Solutions.
15 Purchased $1,100 of computer supplies on credit from Harris
Office
Products.
16 Sent a reminder to Gomez Co. to pay the fee for services
recorded on
November 8.
20 Completed a project for Liu Corporation and received $5,625
cash.
22-26 Took the week off for the holidays.
28 Received $3,000 cash from Gomez Co. on its receivable.
29 Reimbursed R. Santana for business automobile mileage (600
miles at
$0.32 per mile).
31 The company paid $1,800 cash in dividends.
- On October 1 2021 Ramona Santana Launched A Computer Services Company Called Computer Solutions Which Provides Consul 2 (66.28 KiB) Viewed 14 times
ACCOUNT A/R - Alex's DATE ITEM ACCOUNT A/R - Wildcat DATE ITEM ACCOUNT A/R-West Leasing DATE ITEM ACCOUNT A/R - IFM Co. DATE ITEM POST. REF. POST. REF. POST. REF. POST. REF. DEBIT DEBIT DEBIT DEBIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT 106.1 BALANCE 106.2 BALANCE 106.3 BALANCE 106.4 BALANCE
ACCOUNT A/R - Liu Corp DATE ITEM ACCOUNT A/R - Gomez Co. DATE ITEM ACCOUNT A/R - Delta DATE ACCOUNT A/R - KC DATE ITEM ITEM POST. REF. POST. REF. POST. REF. POST. REF. DEBIT DEBIT DEBIT DEBIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT 106.5 BALANCE 106.6 BALANCE 106.7 BALANCE 106.8 BALANCE
ACCOUNT A/R - Dream DATE ITEM ACCOUNT Merchandise Inventory DATE ITEM ACCOUNT Computer Supplies DATE ITEM ACCOUNT Prepaid Insurance DATE ITEM POST. REF. POST. REF. POST. REF. POST. REF. DEBIT DEBIT DEBIT DEBIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT 106.9 BALANCE 119 BALANCE 126 BALANCE 128 BALANCE
ACCOUNT Prepaid Rent DATE ITEM ACCOUNT Office Equipment DATE ITEM ACCOUNT Accum. Deprec. O.E. DATE ITEM ACCOUNT Computer Equipment DATE ITEM POST. REF. POST. REF. POST. REF. POST. REF. DEBIT DEBIT DEBIT DEBIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT 131 BALANCE 163 BALANCE 164 BALANCE 167 BALANCE
ACCOUNT Accum. Deprec. - C.E. POST. DATE ITEM REF. DEBIT ACCOUNT Accounts Payable DATE POST. REF. ITEM DEBIT ACCOUNT Wages Payable POST. REF. DATE ITEM DEBIT ACCOUNT Unearned Computer Service Revenue POST. DATE ITEM REF. DEBIT ACCOUNT Common Stock POST. DATE ITEM REF. DEBIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT 168 BALANCE 201 BALANCE 210 BALANCE 236 BALANCE 307 BALANCE
ACCOUNT Retained Earnings POST. DATE ITEM REF. ACCOUNT Dividends POST. DATE ITEM REF. ACCOUNT Computer Services Revenue POST. DATE ITEM REF. ACCOUNT Sales POST. REF. DATE ITEM ACCOUNT Sales Returns & Allowances POST. DATE ITEM REF. DEBIT DEBIT DEBIT DEBIT DEBIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT 318 BALANCE 319 BALANCE 403 BALANCE 413 BALANCE 414 BALANCE Show or hide sort, filter, cate
ACCOUNT Sales Discounts POST. DATE ITEM REF. ACCOUNT Cost of Goods Sold DATE ITEM POST. REF. ACCOUNT Depreciation Expense - O.E. DATE POST. ITEM REF. ACCOUNT Depreciation Expense - C.E. POST. DATE ITEM REF. ACCOUNT Wages Expense POST. DATE ITEM REF. DEBIT DEBIT DEBIT DEBIT DEBIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT 415 BALANCE 502 BALANCE 612 BALANCE 613 BALANCE 623 BALANCE
ACCOUNT Insurance Expense POST. DATE ITEM REF. ACCOUNT Rent Expense DATE ITEM POST. REF. ACCOUNT Computer Supplies Expense POST. DATE ITEM REF. ACCOUNT Advertising Expense DATE ITEM ACCOUNT Mileage Expense DATE ITEM POST. REF. POST. REF. DEBIT DEBIT DEBIT DEBIT DEBIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT 637 BALANCE 640 BALANCE 652 BALANCE 655 BALANCE 676 BALANCE
ACCOUNT Miscellaneous Expense POST. DATE ITEM REF. ACCOUNT Repairs Expense - Computer POST. DATE ITEM REF. ACCOUNT Income Summary POST. DATE ITEM REF. DEBIT DEBIT DEBIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT ACCOUNT NO. CREDIT 677 BALANCE 684 BALANCE 676 BALANCE