3 The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October...
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3 The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. 11 Number Account Title Debit Credit points 101 Cash 106 Accounts receivable $ 50,849 5,368 126 Computer supplies 590 128 Prepaid insurance 1,485 131 Prepaid rent 765 163 ellook office equipment 8,800 164 Accumulated depreciation-office equipment $440 167 Computer equipment 20,400 168 201 Print Accounts payable Accumulated depreciation-Computer equipment 1,275 2,000 210 Wages payable 400 236 Unearned computer services revenue 2,200 301 5. Rey, Capital 69,000 302 5. Rey, Withdrawals 7,600 Beferences 403 Computer services revenue 612 Depreciation expense-office equipment 37,514 440 613 Depreciation expense-Computer equipment 1,275 623 Wages expense 3,525 637 Insurance expense 495 640 Rent expense 2,295 652 Computer supplies expense 4,055 655 Advertising expense 2,653 676 Mileage expense 759 677 Miscellaneous expenses 210 684 Repairs expense-Computer 1,265 901 Incone summary Totals $ 112,829 $112,829 Required: 1. Prepare an income statement for the three months ended December 31, 2021. 2. Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint The S. Rey, Capital account balance was $0 on October 1, and owner investments were $69,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021 4. Record the closing entries as of December 31, 2021. 3 Required: its) eBook 1. Prepare an income statement for the three months ended December 31, 2021. 2. Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint: The S. Rey, Capital account balance was $0 on October 1, and owner investments were $69,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021. 4. Record the closing entries as of December 31, 2021. 5. Prepare a post-closing trial balance as of December 31, 2021. Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 Required 5 References Prepare an income statement for the three months ended December 31, 2021. BUSINESS SOLUTIONS Revenue Expenses Income Statement For Three Months Ended December 31, 2021 was $0 on October 1, and owner investments were $69,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021. 4. Record the closing entries as of December 31, 2021. 5. Prepare a post-closing trial balance as of December 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 ok int rences Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint: The S. Rey, Capital account balance was $0 on October 1, and owner investments were $69,000 this period. BUSINESS SOLUTIONS Statement of Owner's Equity For Three Months Ended December 31, 2021 5. Rey, Capital, October 1, 2021 0 S. Rey, Capital, December 31, 2021 $ 0 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 points eBook Prepare a classified balance sheet as of December 31, 2021. BUSINESS SOLUTIONS Balance Sheet December 31, 2021 Assets Print- Current assets References Mc Graw Hill Plant assets Liabilities. Current liabilities 0 0 0 0 $ 0 < Prev 3 of 3 Next 5 Plant assets 0 0 0 0 $ 0 Liabilities. Current liabilities Equity Total liabilities and equity < Required 2 $ Required 4 > 0 ces Record the closing entries as of December 31, 2021. View transaction list Journal entry worksheet < 1 2 3 4 Record the entry to close the revenue account(s). Note: Enter debits before credits. Date December 31 General Journal Dobit Credit Record entry Clear entry View general journa < Required 3 Required 5 > 11 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 points eBook Prepare a post-closing trial balance as of December 31, 2021. Note: The accounts should be listed in account number order. BUSINESS SOLUTIONS Post-Closing Trial Balance. Print References December 31, 2021 Debit Credit Totals 0 3 The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. 11 Number Account Title Debit Credit points 101 Cash 106 Accounts receivable $ 50,849 5,368 126 Computer supplies 590 128 Prepaid insurance 1,485 131 Prepaid rent 765 163 ellook office equipment 8,800 164 Accumulated depreciation-office equipment $440 167 Computer equipment 20,400 168 201 Print Accounts payable Accumulated depreciation-Computer equipment 1,275 2,000 210 Wages payable 400 236 Unearned computer services revenue 2,200 301 5. Rey, Capital 69,000 302 5. Rey, Withdrawals 7,600 Beferences 403 Computer services revenue 612 Depreciation expense-office equipment 37,514 440 613 Depreciation expense-Computer equipment 1,275 623 Wages expense 3,525 637 Insurance expense 495 640 Rent expense 2,295 652 Computer supplies expense 4,055 655 Advertising expense 2,653 676 Mileage expense 759 677 Miscellaneous expenses 210 684 Repairs expense-Computer 1,265 901 Incone summary Totals $ 112,829 $112,829 Required: 1. Prepare an income statement for the three months ended December 31, 2021. 2. Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint The S. Rey, Capital account balance was $0 on October 1, and owner investments were $69,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021 4. Record the closing entries as of December 31, 2021. 3 Required: its) eBook 1. Prepare an income statement for the three months ended December 31, 2021. 2. Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint: The S. Rey, Capital account balance was $0 on October 1, and owner investments were $69,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021. 4. Record the closing entries as of December 31, 2021. 5. Prepare a post-closing trial balance as of December 31, 2021. Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 Required 5 References Prepare an income statement for the three months ended December 31, 2021. BUSINESS SOLUTIONS Revenue Expenses Income Statement For Three Months Ended December 31, 2021 was $0 on October 1, and owner investments were $69,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021. 4. Record the closing entries as of December 31, 2021. 5. Prepare a post-closing trial balance as of December 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 ok int rences Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint: The S. Rey, Capital account balance was $0 on October 1, and owner investments were $69,000 this period. BUSINESS SOLUTIONS Statement of Owner's Equity For Three Months Ended December 31, 2021 5. Rey, Capital, October 1, 2021 0 S. Rey, Capital, December 31, 2021 $ 0 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 points eBook Prepare a classified balance sheet as of December 31, 2021. BUSINESS SOLUTIONS Balance Sheet December 31, 2021 Assets Print- Current assets References Mc Graw Hill Plant assets Liabilities. Current liabilities 0 0 0 0 $ 0 < Prev 3 of 3 Next 5 Plant assets 0 0 0 0 $ 0 Liabilities. Current liabilities Equity Total liabilities and equity < Required 2 $ Required 4 > 0 ces Record the closing entries as of December 31, 2021. View transaction list Journal entry worksheet < 1 2 3 4 Record the entry to close the revenue account(s). Note: Enter debits before credits. Date December 31 General Journal Dobit Credit Record entry Clear entry View general journa < Required 3 Required 5 > 11 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 points eBook Prepare a post-closing trial balance as of December 31, 2021. Note: The accounts should be listed in account number order. BUSINESS SOLUTIONS Post-Closing Trial Balance. Print References December 31, 2021 Debit Credit Totals 0
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Related Book For
Principles of Financial Accounting chapters 1-17
ISBN: 978-1259687747
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Posted Date:
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