1 After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. No. Account Title Debit Credit 101 Cash $ 38,764 106 Accounts receivable 12,918 126 Computer supplies 2,545 128 Prepaid insurance 2,040 131 Prepaid rent 3,080 163 Office equipment 8,400 164 Accumulated depreciation Office equipment $ 167 Computer equipment 21,600 Accumulated depreciation Computer 168 equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 307 Common stock 69,000 318 Retained earnings 319 Dividends 5,800 403 Computer services revenue 31,729 612 Depreciation expense-Office equipment 613 Depreciation expense-Computer equipment 623 Wages expense 2,325 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense 1,678 676 Mileage expense 634 677 Miscellaneous expenses 180 684 Repairs expense-Computer 765 Totals $100,729 $180, 729 0 Business Solutions had the following transactions and events in December 2019. Dec. 2 Paid $980 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $450 cash for minor repairs to the company's computer. 4 Received $4,350 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 $115 per day. 14 Notified by Alex's Engineering Co. that Business Solutions' bid of $7,900 on a proposed project has been accepted. Alex's paid a $2,200 cash advance to Business Solutions. 15 Purchased $2,000 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 $5,925 cash. 22- Took the week off for the holidays. 26 28 Received $3,400 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (500 miles at $0.29 per mile). 31 The company paid $1,400 cash in dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a. The December 31 inventory count of computer supplies shows $640 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 $115 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 and events for Business Solutions 2-0. Prepare adjusting entries to reflect a through 2-b. Post the journal entries to record each of the December transactions from Requirement 1 and adjusting entries from Requirement 2A. After completing Requirement 7. post the closing entries to the general ledger accounts. 3. Prepare an adjusted trial balance as of December 31, 2019. 4. Prepare an Income statement for the three months ended December 31, 2019 5. Prepare a statement of retained earnings for the three months ended December 31, 2019 6. Prepare a balance sheet as of December 31, 2019 7. Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 28 8. Prepare a post-closing trial balance as of December 31, 2019 Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Reg 28 Req3 Reg 4 Reg 5 Reg 6 Reg 7 Req 8 Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no er transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet View transaction list Journal entry worksheet Reg 1 Req 2A Reg 2B Reg 3 Reg 4 Reg 5 Req 6 Req 7 Req8 Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no entry is transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Req1 Req 2A Req 2B Req3 Reg 4 Reg 5 Reg 6 Req 7 Req 8 Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no entry is transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 67 8 .... 11 > Paid cash to Lyn Addie for six days of work at the rate of $115 per day. Note: Enter debits before credits. Date General Journal Debit Credit Dec 10 Record entry Clear entry View general journal KR Req 2A > Complete this question by entering your answers in the tabs below. Req 4 Reg 3 Reg 5 Reg 6 Req Reg 7 Req 2B Req 1 Reg 2A Prepare journal entries to record each of the December transactions and events for Business Solutions. (If transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 ch 6 7 8 11 > ..... Notified by Alex's Engineering Co. that Business Solutions' bid of $7,900 on a proposed project has been accepted. Alex's paid a $2,200 cash advance to Business Solutions. Note: Enter debits before credits. Date General Journal Debit Credit Dec 14 Record entry Clear entry View general journal * Req Req 2A Reg 1 Reg 2A Req 2B Req3 Reg 4 Reg 5 Reg 6 Reg 7 Req 8 Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no entry is requi transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Req 2A Reg 1 Reg 28 Req3 Reg 4 Reg 5 Reg 6 Reg 7 Reg 8 Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. Note: Enter debits before credits. Date General Journal Debit Credit Dec 16 Record entry Clear entry View general journal Her Req 2A > Req 28 Reg 2A Req3 Reg 1 Reg 4 Reg 5 Reg 6 Reg 7 Reg 8 Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no entry is required for transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Reg 1 Req 2B Reg 3 Reg 2A Reg 4 Req 6 Reg 5 Reg 7 Reg 8 Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no entry is requis transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 BRE 4 5 6 7 8 10 si 11 Received $3,400 cash from Gomez Co, on its receivable. Note: Enter debits before credits. Date General Journal Debit Credit Dec 28 Record entry Clear entry View general Journal RO Req 2A > View transaction list Journal entry worksheet Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no entry is transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 10 b The company paid $1,400 cash in dividends. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal 1 Req 2A >