Answer Happy

After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2020, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2020) follows. Account Title Credit Number 101 106 126 128 131 163 164 Accumulated depreciation-office equipment 167 168 201 210 236 307 318 319 403 612 613 623 637 640 652 655 Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent office equipment 676 677 684 Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Unearned computer services revenue Common stock Retained earnings Dividends Computer services revenue Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense. Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Totals Debit $ 39,164 12,918 2,645 1,980 3,280 8,800 23,200 6,100 0 0 2,400 0 0 0 1,688 664 210 735 $ 103,784 0 0 0 0 67,000 0 36,784 $ 103,784 Business Solutions had the following transactions and events in December 2020.
es December 2 Paid $1,000 cash to Hillside Mall for Business Solutions's share of mall advertising costs. December 3 Paid $470 cash for minor repairs to the company's computer. December 4 Received $4,850 cash from Alex's Engineering Co. for the receivable from November. December 10 Paid cash to Lyn Addie for six days of work at the rate of $120 per day. December 14 Notified by Alex' Engineering Company that Business Solutions's bid of $7,600 on a proposed proje been accepted. Alex's paid a $2,400 cash advance to Business Solutions. December 15 Purchased $2,100 of computer supplies on credit from Harris office Products. December 16 Sent a reminder to Gomez Company to pay the fee for services recorded on November 8. December 20 Completed a project for Liu Corporation and received $5,875 cash. December 22-26 Took the week off for the holidays. December 28 Received $3,700 cash from Gomez Company on its receivable.. December 29 Reimbursed S. Rey for business automobile mileage (400 miles at $0.22 per mile). December 31 The company paid $1,200 cash in dividends.
a. The December 31 inventory count of computer supplies shows $600 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 $120 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.
Unadjusted Trial Balance, December 31, 2020 Debit Credit # Account 101 Cash 106 Accounts receivable 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 Accumulated depreciation-Office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 307 Common stock 318 Retained earnings 319 Dividends 403 Computer services revenue 612 Depreciation expense-Office equipment 613 Depreciation expense-Computer equipment 623 Wages expense 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense 676 Mileage expense 677 Miscellaneous expenses 684 Repairs expense-Computer Totals
Adjusted Trial Balance, December 31, 2020 # Account 101 Cash 106 Accounts receivable 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 Accumulated depreciation-Office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 307 Common stock 318 Retained earnings 319 Dividends 403 Computer services revenue 612 Depreciation expense-Office equipment 613 Depreciation expense-Computer equipment 623 Wages expense 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense 676 Mileage expense 677 Miscellaneous expenses 684 Repairs expense-Computer Totals Debit Credit
Post-Closing Trial Balance, December 31, 2020 # Account Debit Totals Credit