After the success of the company’s first two months, Santana Rey continues to operate Business Solutions. The November 3

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After the success of the company’s first two months, Santana Rey
continues to operate Business Solutions. The November 30, 2021,
unadjusted trial balance of Business Solutions (reflecting its
transactions for October and November of 2021) follows.
Business Solutions had the following transactions and events in
December 2021.
The following additional facts are collected for use in making
adjusting entries prior to preparing financial statements for the
company’s first three months.
Required:
1. Prepare journal entries to record each of
the December transactions. Post those entries to the accounts in
the ledger.
2-a. Prepare adjusting entries to
reflect a through f.
2-b. Post the journal entries to record each
of the December transactions, adjusting entries to the accounts in
the ledger.
3. Prepare an adjusted trial balance as of
December 31, 2021.
4. Prepare an income statement for the three
months ended December 31, 2021.
5. Prepare a statement of retained earnings
for the three months ended December 31, 2021.
6. Prepare a classified balance sheet as of
December 31, 2021.
7. Record the necessary closing entries as of
December 31, 2021.
8. Prepare a post-closing trial balance as of
December 31, 2021.