2 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 $110 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. 60 points eBook Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. 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, 2018. 4. Prepare an income statement for the three months ended December 31, 2018. 5. Prepare a statement of retained earnings for the three months ended December 31, 2018. 6. Prepare a balance sheet as of December 31, 2018. 7. Record and post the necessary closing entries as of December 31, 2018. 8. Prepare a post-closing trial balance as of December 31, 2018. Ask Print Complete this question by entering your answers in the tabs below. References Req 1 Req 2A Req 2B Req3 Reg 4 Reg 5 Req 6 Req 7 Req 8 Saved A Saved Business Solutions had the following transactions and events in December 2018 Dec 2 Paid $995 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $460 cash for minor repairs to the company's computer. 4 Received $4,050 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 $110 per day. 14 Notified by Alex's Engineering Co. that Business Solutions bid of $7,400 on a proposed project accepted. Alex's paid a $1,800 cash advance to Business Solutions. 15 Purchased $1,600 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 $6,475 cash. 22- Took the week off for the holidays. 26 28 Received $3,200 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (600 miles at $0.25 per mile). 31 The company paid $1,100 cash in dividends. The following additional facts are collected for use in making adjusting enkries prior to preparing financial statements company's first three months: After the success of the company's first two months, Santana Rey continues to operate Business Solutions. T unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2018 No. Account Title Debit Credit 101 Cash $ 39,164 106 Accounts receivable 12,918 126 Computer supplies 2,645 128 Prepaid insurance 2,160 131 Prepaid rent 3,120 163 office equipment 9,000 164 Accumulated depreciation office equipment $ 0 167 Computer equipment 20,000 168 Accumulated depreciation-Computer equipment 0 201 Accounts payable 0 210 Wages payable 0 236 Unearned computer services revenue 0 307 Common stock 66,000 318 Retained earnings 0 319 Dividends 6,400 403 Computer services revenue 34,989 612 Depreciation expense office equipment 0 613 Depreciation expense-computer equipment 0 623 Wages expense 2,275 637 Insurance expense 0 640 Rent expense 0 652 Computer supplies expense 0 655 Advertising expense 1,688 676 Mileage expense 654 677 Miscellaneous expenses 190 684 Repairs expense-Computer 775 Totals $100,989 $100,989 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 $110 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-a. Prepare adjusting entries to reflect a through . 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the lec 3. Prepare an adjusted trial balance as of December 31, 2018 4. Prepare an income statement for the three months ended December 31, 2018. 5. Prepare a statement of retained earnings for the three months ended December 31, 2018 6. Prepare a balance sheet as of December 31, 2018 Business Solutions had the following transactions and events in December 2018, Dec. 2 Paid $995 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $460 cash for minor repairs to the company's computer. 4 Received $4,050 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 $110 per day. 101 2 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 $110 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. 60 points eBook Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. 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, 2018. 4. Prepare an income statement for the three months ended December 31, 2018. 5. Prepare a statement of retained earnings for the three months ended December 31, 2018. 6. Prepare a balance sheet as of December 31, 2018. 7. Record and post the necessary closing entries as of December 31, 2018. 8. Prepare a post-closing trial balance as of December 31, 2018. Ask Print Complete this question by entering your answers in the tabs below. References Req 1 Req 2A Req 2B Req3 Reg 4 Reg 5 Req 6 Req 7 Req 8 Saved A Saved Business Solutions had the following transactions and events in December 2018 Dec 2 Paid $995 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $460 cash for minor repairs to the company's computer. 4 Received $4,050 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 $110 per day. 14 Notified by Alex's Engineering Co. that Business Solutions bid of $7,400 on a proposed project accepted. Alex's paid a $1,800 cash advance to Business Solutions. 15 Purchased $1,600 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 $6,475 cash. 22- Took the week off for the holidays. 26 28 Received $3,200 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (600 miles at $0.25 per mile). 31 The company paid $1,100 cash in dividends. The following additional facts are collected for use in making adjusting enkries prior to preparing financial statements company's first three months: After the success of the company's first two months, Santana Rey continues to operate Business Solutions. T unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2018 No. Account Title Debit Credit 101 Cash $ 39,164 106 Accounts receivable 12,918 126 Computer supplies 2,645 128 Prepaid insurance 2,160 131 Prepaid rent 3,120 163 office equipment 9,000 164 Accumulated depreciation office equipment $ 0 167 Computer equipment 20,000 168 Accumulated depreciation-Computer equipment 0 201 Accounts payable 0 210 Wages payable 0 236 Unearned computer services revenue 0 307 Common stock 66,000 318 Retained earnings 0 319 Dividends 6,400 403 Computer services revenue 34,989 612 Depreciation expense office equipment 0 613 Depreciation expense-computer equipment 0 623 Wages expense 2,275 637 Insurance expense 0 640 Rent expense 0 652 Computer supplies expense 0 655 Advertising expense 1,688 676 Mileage expense 654 677 Miscellaneous expenses 190 684 Repairs expense-Computer 775 Totals $100,989 $100,989 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 $110 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-a. Prepare adjusting entries to reflect a through . 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the lec 3. Prepare an adjusted trial balance as of December 31, 2018 4. Prepare an income statement for the three months ended December 31, 2018. 5. Prepare a statement of retained earnings for the three months ended December 31, 2018 6. Prepare a balance sheet as of December 31, 2018 Business Solutions had the following transactions and events in December 2018, Dec. 2 Paid $995 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $460 cash for minor repairs to the company's computer. 4 Received $4,050 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 $110 per day. 101