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I dont know how to solve the Cumulative Comprehension Problem: Echo System Chapters 3 & 4 from the book Fundamental Accounting Principles.

thank you

Cumulative Comprehension Problem: Echo Systems (This comprehensive problem was introduced in Chapter 2 and continues in Chapters 4 and 5 . If the Chapter 2 segment has not been completed, the assignment can begin at this point. You need to use the facts presented in Chapter 2. Because of its length, this problem is most easily solved if you use the Working Papers th that accompany this book.) Cumulative Comprehension Working Papers After the success of its first two months, Mary Graham has decided to continue operating Echo Systems. (The transactions that occurred in these months are described in Chapter 2.) Before proceeding in December. Graham adds these new accounts to the chart of accounts for the ledger: Clicknere for a description of Table: Cumulative Comorehension Rroblem: Echo Svstems Required 1. Prepare journal entries to record each of the following transactions for Echo Systems. Post the entries to the accounts in the ledger. Dec. a Paid $2,100 to the Lakoshore Mall for the componys shave of mat advertising costs. 3 Pald 11.200 to ropair the compotis compuser. 4 Roceived $7.500 from Aemo Enginworing Ce. for the reosivable from the prior month. 10 Paid Cosily Smeh for st dsys' work ar the rate of 3200 por dey. 14 Noefide by Alamo Enginosion C. ther Eechots bid of $12,000 on a proposed projoct was accopted. Alamo paid an adrenee of $3.000. 17 Purchesed $2.310 of compustor supplios on credit from Abbot office Products. 18 Seme a reminder to Fosteik Co. topey the foe for sonvices cciginslly recordid on November 8. 20 Comploted a project for Ele Corporation and rocelved $11.250 cash. 24-28 Toak the wook off for the holideys. 31 Rocowived s5.700 from Fostok Co, on its roceikable. 31 Reimbursed Moy Grahamis businoss automobile expenses of 600 klometres at $1.00 per kllomote. 31 Graham withdrow $3,600 cash from the business. Click here for a description of List: Cumulative Comprehension Problem: Echo Systems, 1. 2. Prepare adjusting entries to record the following additional information collected on December 31 , 2017. Post the entries to the accounts in the ledger. a. The December 31 inventory of computer supplies was $1,440. b. Three months have passed since the annual insurance premium was paid. c. As of the end of the year, Carly Smith has not been paid for four days of work at the rate of $200 per day. d. The computer is expected to have a four-year life with no residual value. e. The office equipment is expected to have a three-year life with no residual value. f. Prepaid rent for three of the four months has expired. 3. Prepare an adjusted trial balance as of December 31,2017. 4. Prepare an income statement and statement of changes in equity for the three months ended December 31,2017. 5. Prepare a balance sheet as of December 31,2017. Chapter 4 Cumulative Comprehension Problem: Echo Systems CHECK FIGURE: 2. Total credits in post-closing trial balance =$155,720 (The first two segments of this comprehensive problem were in Chapters 2 and 3 , and the final segment is presented in Chapter 5 . If the Chapter 2 and 3 segments have not been completed, the assignment can begin at this point. It is recommended that you use the Working Papers 12 that accompany this book because they reflect the account balances that resulted from posting the entries required in Chapters 2 and 3.) Cumulative Comprehension Working Papers The transactions of Echo Systems for October through December 2017 have been recorded in the problem segments in Chapters 2 and 3 , as well as the year-end adjusting entries. Prior to closing the temporary accounts for 2017 , the accounting system is modified to include the Income Summary account, which is given the number 901 . Required 1. Record and post the appropriate closing entries. 2. Prepare a post-closing trial balance. Cumulative Comprehension Problem: Echo Systems (This comprehensive problem was introduced in Chapter 2 and continues in Chapters 4 and 5 . If the Chapter 2 segment has not been completed, the assignment can begin at this point. You need to use the facts presented in Chapter 2. Because of its length, this problem is most easily solved if you use the Working Papers't that accompany this book.) Cumulative Comprehension Working Papers After the success of its first two months, Mary Graham has decided to continue operating Echo Systems. (The transactions that occurred in these months are described in Chapter 2.) Before proceeding in December. Graham adds these new accounts to the chart of accounts for the ledger: Click here for a description of Table: Cumulative Comorehension Rroblem: Echo Systems Required 1. Prepare journal entries to record each of the following transactions for Echo Systems. Post the entries to the accounts in the ledger. Dec. 3 Paid $2,100 to the Lakoshore Mall for the componys shave of mat advertising costs. 3 Pald 11.200 to ropair the compasy's compuier. 4 Roceived $7.500 from Aemo fnginwering Ce. for the reosivable from the prior month. 10 Paid Cand Smeh for st dsys' work ar the rate of $200 per dey. 14 Noefide by Alamo Enginosrion Co. ther Eechots bid of $12,000 on a proposed projoct was actepted. Alamo paid an advenee of $3.000. 17 Aurchesed $2.310 of compustor supplios on crodit from Abbot office Products. 18 Seme a reminder to Fosteik C. to pey the fee for sovices ceiginslly recordid on November 8. 20 Comploted a project for Elhe Corporation and rocehved $11.250 cash. 24-28 Toak the wook off for the holideys. 31 Rocowived $5.700 from Fostok Co, on its rocokable. 31 Reimbursed May Graham's businoss automobile cepenses of 600 whlomotres at $1.00 per kllomote. 31 Graham withdrow $3,600 cash from the business. Click here for a description of List: Cumulative Comprehension Problem: Echo Systems, 1. 2. Prepare adjusting entries to record the following additional information collected on December 31 . 2017. Post the entries to the accounts in the ledger. a. The December 31 inventory of computer supplies was $1,440. b. Three months have passed since the annual insurance premium was paid. c. As of the end of the year, Carly Smith has not been paid for four days of work at the rate of $200 per day. d. The computer is expected to have a four-year life with no residual value. Cumulative Comprehension Problem: Echo Systems (This comprehensive problem was introduced in Chapter 2 and continues in Chapters 4 and 5 . If the Chapter 2 segment has not been completed, the assignment can begin at this point. You need to use the facts presented in Chapter 2. Because of its length, this problem is most easily solved if you use the Working Papers th that accompany this book.) Cumulative Comprehension Working Papers After the success of its first two months, Mary Graham has decided to continue operating Echo Systems. (The transactions that occurred in these months are described in Chapter 2.) Before proceeding in December. Graham adds these new accounts to the chart of accounts for the ledger: Clicknere for a description of Table: Cumulative Comorehension Rroblem: Echo Svstems Required 1. Prepare journal entries to record each of the following transactions for Echo Systems. Post the entries to the accounts in the ledger. Dec. a Paid $2,100 to the Lakoshore Mall for the componys shave of mat advertising costs. 3 Pald 11.200 to ropair the compotis compuser. 4 Roceived $7.500 from Aemo Enginworing Ce. for the reosivable from the prior month. 10 Paid Cosily Smeh for st dsys' work ar the rate of 3200 por dey. 14 Noefide by Alamo Enginosion C. ther Eechots bid of $12,000 on a proposed projoct was accopted. Alamo paid an adrenee of $3.000. 17 Purchesed $2.310 of compustor supplios on credit from Abbot office Products. 18 Seme a reminder to Fosteik Co. topey the foe for sonvices cciginslly recordid on November 8. 20 Comploted a project for Ele Corporation and rocelved $11.250 cash. 24-28 Toak the wook off for the holideys. 31 Rocowived s5.700 from Fostok Co, on its roceikable. 31 Reimbursed Moy Grahamis businoss automobile expenses of 600 klometres at $1.00 per kllomote. 31 Graham withdrow $3,600 cash from the business. Click here for a description of List: Cumulative Comprehension Problem: Echo Systems, 1. 2. Prepare adjusting entries to record the following additional information collected on December 31 , 2017. Post the entries to the accounts in the ledger. a. The December 31 inventory of computer supplies was $1,440. b. Three months have passed since the annual insurance premium was paid. c. As of the end of the year, Carly Smith has not been paid for four days of work at the rate of $200 per day. d. The computer is expected to have a four-year life with no residual value. e. The office equipment is expected to have a three-year life with no residual value. f. Prepaid rent for three of the four months has expired. 3. Prepare an adjusted trial balance as of December 31,2017. 4. Prepare an income statement and statement of changes in equity for the three months ended December 31,2017. 5. Prepare a balance sheet as of December 31,2017. Chapter 4 Cumulative Comprehension Problem: Echo Systems CHECK FIGURE: 2. Total credits in post-closing trial balance =$155,720 (The first two segments of this comprehensive problem were in Chapters 2 and 3 , and the final segment is presented in Chapter 5 . If the Chapter 2 and 3 segments have not been completed, the assignment can begin at this point. It is recommended that you use the Working Papers 12 that accompany this book because they reflect the account balances that resulted from posting the entries required in Chapters 2 and 3.) Cumulative Comprehension Working Papers The transactions of Echo Systems for October through December 2017 have been recorded in the problem segments in Chapters 2 and 3 , as well as the year-end adjusting entries. Prior to closing the temporary accounts for 2017 , the accounting system is modified to include the Income Summary account, which is given the number 901 . Required 1. Record and post the appropriate closing entries. 2. Prepare a post-closing trial balance. Cumulative Comprehension Problem: Echo Systems (This comprehensive problem was introduced in Chapter 2 and continues in Chapters 4 and 5 . If the Chapter 2 segment has not been completed, the assignment can begin at this point. You need to use the facts presented in Chapter 2. Because of its length, this problem is most easily solved if you use the Working Papers't that accompany this book.) Cumulative Comprehension Working Papers After the success of its first two months, Mary Graham has decided to continue operating Echo Systems. (The transactions that occurred in these months are described in Chapter 2.) Before proceeding in December. Graham adds these new accounts to the chart of accounts for the ledger: Click here for a description of Table: Cumulative Comorehension Rroblem: Echo Systems Required 1. Prepare journal entries to record each of the following transactions for Echo Systems. Post the entries to the accounts in the ledger. Dec. 3 Paid $2,100 to the Lakoshore Mall for the componys shave of mat advertising costs. 3 Pald 11.200 to ropair the compasy's compuier. 4 Roceived $7.500 from Aemo fnginwering Ce. for the reosivable from the prior month. 10 Paid Cand Smeh for st dsys' work ar the rate of $200 per dey. 14 Noefide by Alamo Enginosrion Co. ther Eechots bid of $12,000 on a proposed projoct was actepted. Alamo paid an advenee of $3.000. 17 Aurchesed $2.310 of compustor supplios on crodit from Abbot office Products. 18 Seme a reminder to Fosteik C. to pey the fee for sovices ceiginslly recordid on November 8. 20 Comploted a project for Elhe Corporation and rocehved $11.250 cash. 24-28 Toak the wook off for the holideys. 31 Rocowived $5.700 from Fostok Co, on its rocokable. 31 Reimbursed May Graham's businoss automobile cepenses of 600 whlomotres at $1.00 per kllomote. 31 Graham withdrow $3,600 cash from the business. Click here for a description of List: Cumulative Comprehension Problem: Echo Systems, 1. 2. Prepare adjusting entries to record the following additional information collected on December 31 . 2017. Post the entries to the accounts in the ledger. a. The December 31 inventory of computer supplies was $1,440. b. Three months have passed since the annual insurance premium was paid. c. As of the end of the year, Carly Smith has not been paid for four days of work at the rate of $200 per day. d. The computer is expected to have a four-year life with no residual value