After the success of the company’s first two months, Adria Lopez continues to operate Success Systems. (Transactions for the first two months are described in the serial problem of Chapter 2.) The November 30, 2013, unadjusted trial balance of Success Systems (reflecting its transactions for October and November of 2013) follows

Success Systems had the following transactions and events in December 2013.

Required 1. Prepare journal entries to record each of the December transactions and events for Success Systems. Post those entries to the accounts in the ledger. 2. Prepare adjusting entries to reflect a through

f. Post those entries to the accounts in the ledger. 3. Prepare an adjusted trial balance as of December 31, 2013. 4. Prepare an income statement for the three months ended December 31, 2013. 5. Prepare a statement of owner's equity for the three months ended December 31, 2013. 6. Prepare a balance sheet as of December 31, 2013.

Transcribed Image Text:

No. 101 Cash 106 Accounts receivable 126 Computer supplies. 128 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 167 Computer equipment.. 168 Accumulated depreciation-Office equipment. Accumulated depreciation-Computer equipment Account Title Debit Credit $ 48,052 12,618 2,545 2,220 3,300 8,000 $ 0 20,000 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 301 A. Lopez, Capital. 302 A. Lopez, Withdrawals 403 Computer services revenue.. 612 Depreciation expense-Office equipment 613 Depreciation expense-Computer equipment 623 Wages expense. 637 Insurance expense 0 0 0 0 83,000 5,600 25,659 0 0 2,625 0 640 Rent expense