- After The Success Of The Company S First Two Months Santana Rey Continues To Operate Business Solutions The November 3 1 (59.06 KiB) Viewed 7 times
- After The Success Of The Company S First Two Months Santana Rey Continues To Operate Business Solutions The November 3 2 (33.48 KiB) Viewed 7 times
- After The Success Of The Company S First Two Months Santana Rey Continues To Operate Business Solutions The November 3 3 (51.73 KiB) Viewed 7 times
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. Account Title Debit Credit Number 101 Cash $ 38,764 106 Accounts receivable 13,018 2,645 126 Computer supplies 128 Prepaid insurance Prepaid rent 2,100 131 2,940 163 Office equipment 8,800 164 Accumulated depreciation-Office equipment Computer equipment 167 23,600 168 8 Accumulated depreciation-Computer equipment Accounts payable 201 e 210 Wages payable 0 236 0 Unearned computer services revenue Common stock 307 65,000 318 Retained earnings. 0 319 Dividends 6,200 403 Computer services revenue 38,494 612 Depreciation expense-Office equipment Depreciation expense-Computer equipment 613 0 623 Wages expense 2,200 637 Insurance expense 0 640 Rent expense 0 652 Computer supplies expense 0 655 Advertising expense 1,668 676 Mileage expense 634 677 Miscellaneous expenses 180 684 Repairs expense-Computer 745 901 Income summary Totals $ 103,4941 $ 103,494 Business
Solutions had the following transactions and events in December 2021. December 2 Paid $925 cash to Hillside Mall for Business
Solutions's share of mall advertising costs. December 3 Paid $460 cash for minor repairs to the
company's computer. December 4 Received $4,650 cash from Alex's Engineering
Company for the receivable from November. December 10 Paid cash to Lyn Addie for six days of work at the rate of $100 per day. December 14 Notified by Alex's Engineering
Company that Business
Solutions's bid of $7,000 on a proposed project has been accepted. Alex's paid a $2,200 cash advance to Business
Solutions. December 15 Purchased $1,900 of computer supplies on credit from Harris Office Products. December 16 Sent a reminder to Gonez
Company to pay the fee for services recorded on November 8. December 20 Completed a project for Liu Corporation and received $6,375 cash.. December 22-26 Took the week off for the holidays.. December 28 Received $3,800 cash from Gomez
Company on its receivable. December 29 Reimbursed S. Rey for business autonobile mileage (500 miles at $0.29 per mile). December 31 Paid $1,500 cash for dividends. The following additional facte are collected for use in makinn adinetinn antriae nrior to prenarinn financial statemente for the
a. The December 31 inventory count of computer supplies shows $590 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Lyn Addie has not been paid for four days of work at $100 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value. f. Three of the four months' prepaid rent have expired. 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. R Pronare a nost.closing trial balance of December 21 201
Complete this
question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Prepare adjusting entries to reflect a through f. (If no entry is required for a transaction/event, select "No jours first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 The December 31 inventory count of computer supplies shows $590 still available. Note: Enter debits before credits. Transaction General Journal Clear entry Record entry Required 1 Debit Credit View general journal Required 30