Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1.Im not sure how to answer the six questions where do I find November 30 unadjusted trial balance 2.how do I record transactions and event
1.Im not sure how to answer the six questions where do I find November 30 unadjusted trial balance 2.how do I record transactions and event for business solutions 3.how do I adjust entries and prepare an adjusted trial balance for December 312017 4. Prepare an income statement of owners equity and balance sheet for three months ended dec312017 5. Record and post the necessary closing entries 6. Prepare and post closing trial balance COMPREHENSIVE PROBLEM #1 based on Serial Problem data found in Fundamental Accounting Principles, 23 ed.) You may wor make an individual submission of the a completeness and accuracy. The problem is worth 100 points. San k together with other students to create the required elements, but each student must nswers. Comprehensive Problem #1 will be graded for tana Rey founded Business Solutions on October 1, 2017 with an initial capital investment totaling $73,000. The November 30, 2017, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November 2017) follows Credit No. 101 Debit Account Title $38,264 12,618 2,545 2,220 Cash 106 Accounts Receivable 126 Computer Supplies Prepaid Insurance 131 Prepaid Rent 163 Office Equipment 8,000 0 164 Accumulated Depreciation-Office Equipment 167 Computer Equipment 168 Accumulated Depreciation- Computer Equipment 201 Accounts Payable 210 Wages Payable 236 301 S. Rey, Capital 302 S. Rey, Withdrawals 403 Computer Services Revenue 20,000 0 Unearned Computer Services Revenue 73,000 5,600 25,659 612 Depreciation Expense- Office Equipment 623ares soen pensCmputr Equipment Wages Ex 2,625 637 Insurance Expense 640 Rent Expense 652 Computer Supplies Expense 655 | | Advertising Expense 1,728 704 250 805 676 Mileage Expense 677 Miscellaneous Expenses Repairs Expense- Computer 684 Total $98,659 $98,659
2.how do I record transactions and event for business solutions
3.how do I adjust entries and prepare an adjusted trial balance for December 312017
4. Prepare an income statement of owners equity and balance sheet for three months ended dec312017
5. Record and post the necessary closing entries
6. Prepare and post closing trial balance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started