6 of 6 Required Information The following information applies to the questions displayed below) Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the Single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts Debit $48,412 Credit 1e1 3,100 2,778 e 620 1,908 915 8. Account Title Cash 105. Alex's Engineering Co. 106.2 Wildcat Services 206.3 Easy Leasing 185.4 IFM CO 186,5 Liu-Corp. 185.6 Gomez co. 106. bolta Co 185.8 KG Inc 16. Dream, Inc. 719 Merchandise inventory 126 Computer supplies 128 Prepaid Insurance Prepaid rent 163 Office equipment 16-1 Accumulated depreciation Office equiptent 267 Computer equipment 168 Accumulated depreciation Computer equipment 201 Accounts payable zle Wages payable 225 Learned computer services revend BI 5. Rey Capital Hey withdrawal es CODUTOrvices revenue 3 Sales se return and slowance aze discuss SEZ sort of sold 512 state of Depreciation excepute RH pente 4ea 20.00 1.000 1,210 1.50 81.92 612 623 623 632 GE 652 655 676 677 684 Depreciation expense office equipment Depreciation expense computer equipment Ware expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer e In response to requests from customers. S. Rey will begin selling computer software. The company will extend credit terms of 1/10, 1/30. FOB shipping point, to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119, 413 414 415, and 502) are added to its general ledger to accommodate the company's new merchandising activities. Its transactions for January through March follow Jan 4 The company paid cash to Lyn Addie for five days work at the rate of $175 per day. Four of the five days relate to wages payable that were accrued in the prior year. 5 Santana key invested an additional $23,400 cash in the company 7 The company purchased 35,000 of merchandise from Kansas Corp. with terms of 1/10, 1/30, FOB shipping point Invoice dated January 7. 9 The company received $2,778 cash from comer Co. as full payment on its account 11 The company completed a five-day project for Alex's Engineering Co. and billed it 55, 440, which is the total price of $6,890 less the advance payment of $1,450. The company debited unearned computer Services Revenue for $1,450 13 The company told merchandise with a retail value of 14.100 and a cost of $3,480 to Liu corp. Invoice dated January 13, 15 The company paid $678 cash for freight charges on the merchandite purchased on January 7. 16 The company received $4,190 cash from Delta Co. for computer services provided 17 The company paid Kansas Corp. for the invoice dated Januarynet of the discount ze the company rave a price reduction (allowance) of 0 to Liu Corp., and credited Liu's accounts receivable for that amount 22. The company received the balance due from Liu Carp net of the discount and the allowance 24 The company returned defective merchandise to Kansas Corp. and accepted a credit against future purchases (debited accounts payable). The defective merchandise invoice cost, net of the discount was $496 25. The company purchased $9,600 of merchandise from Kansas Corp with term of 1/10, n. Fou destination invoice dated January 26 26. The company sold merchandise with castor on data Cincinvoice tedavany 20 The company paid cash to Lydd for work at $175 per day Feb. e company paid $2,745 cash to it for another three months rent in advance in coma any pard kancas Coron the balange of the cash countless, the $498 credis from merchandise returned on January 24 the company paid dat tocco and appear on February 11 ( 1 15-in dif , Fin| : : 15 santana kadar on. (debited accounts payable). The defective merchandise invoice cost, net of the discount, was $496 26 The company purchased $9,66 of merchandise from Kansas Corp. With terms of 1/10, 1/30, FOB destination, invoice dated January 26. 26 The company sold merchandise with a $4,600 cost for $5,830 on credit to KC, Inc., invoice dated January 26. 31 The company paid cash to Lyn Addie for 10 days' work at $175 per day. Feb. 1 The company paid $2,745 cash to Hi11side Mall for another three months' rent in advance. 3 The company paid Kansas Corp. for the balance due, net of the cash discount, less the $496 credit from merchandise returned on January 24. 5 The company paid $510 cash to Facebook for an advertisement to appear on February 5 only. 11. The company received the balance due from Alex's Engineering Co. for fees billed on January 11. 15 Santana Rey withdrew $4,770 cash from the company for personal use. 23 The company sold merchandise with a $2,530 cost for $3,25e on credit to Delta Co., invoice dated February 23. 26 The company paid cash to Lyn Addie for eight days' work at $175 per day 27 The company reimbursed Santana Rey $160 for business automobile mileage. The company recorded the reimbursement as "Mileage Expense. Mar. 8 The company purchased $2,820 of computer supplies from Harris Office Products on credit with terms of n/30, FOB destination, invoice dated March 8. 9 The company received the balance due from Delta Co. for merchandise sold on February 23, 11 The company paid $960 cash for minor repairs to the company's computer 16 The company received $5,330 cash from Dream, Inc. for computing services provided 19 The company paid the full amount due of 53,930 to Harris Office Products, consisting of mounts created on December 15 (of $1,110) and March 8. 24 The company billed Easy Leasing for $9,247 of computing services provided 25 The company soid merchandise with a $2,152 cost for $2.880 on credit to Wildcat Services, Invoice dated March 25. 3e The company sold merchandise with a $1,188 cost for $2.410 on credit to II Company, invoice dated March 302 31 The company reimbursed Santana Rey 3224 for business automobile mileage. The company recorded the reimbursement as "Mileage Expense, The following additional facts are avaliable for preparing adjustments on March 31 orior to financial statement preparation a. The March 31 amount of computer supplies still available totals $2.045 b. Prepaid Insurance coverage of $636 expired during this 3-month period. c. Lyn Addle has not been paid for seven days of work at the rate of $175 per day. d. Prepaid rent of $2,745 expired during this 3-month period. e. Depreciation on the computer equipment for January 1 through March 31 is $1,080. 1. Depreciation on the office equipment for January 1 through March 31 is $400. g. The March 31 amount of merchandise Inventory still avaliable totals $584 6. Prepare a classified balance sheet from the adjusted trial ba ancel as of March 31, 2020. Part 6 of 6 6. Prepare a classified balance sheet (from the adjusted trial balance) as of March 31, 2020. -7 ints BUSINESS SOLUTIONS Balance Sheet March 31, 2020 Assets eBook Current assets Print ferences Total current assets Plant assets Office Equipment, net Computer equipment, net Total plant assets Total assets Liabilities Current liabilities 6 of 6 Required Information The following information applies to the questions displayed below) Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the Single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts Debit $48,412 Credit 1e1 3,100 2,778 e 620 1,908 915 8. Account Title Cash 105. Alex's Engineering Co. 106.2 Wildcat Services 206.3 Easy Leasing 185.4 IFM CO 186,5 Liu-Corp. 185.6 Gomez co. 106. bolta Co 185.8 KG Inc 16. Dream, Inc. 719 Merchandise inventory 126 Computer supplies 128 Prepaid Insurance Prepaid rent 163 Office equipment 16-1 Accumulated depreciation Office equiptent 267 Computer equipment 168 Accumulated depreciation Computer equipment 201 Accounts payable zle Wages payable 225 Learned computer services revend BI 5. Rey Capital Hey withdrawal es CODUTOrvices revenue 3 Sales se return and slowance aze discuss SEZ sort of sold 512 state of Depreciation excepute RH pente 4ea 20.00 1.000 1,210 1.50 81.92 612 623 623 632 GE 652 655 676 677 684 Depreciation expense office equipment Depreciation expense computer equipment Ware expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer e In response to requests from customers. S. Rey will begin selling computer software. The company will extend credit terms of 1/10, 1/30. FOB shipping point, to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119, 413 414 415, and 502) are added to its general ledger to accommodate the company's new merchandising activities. Its transactions for January through March follow Jan 4 The company paid cash to Lyn Addie for five days work at the rate of $175 per day. Four of the five days relate to wages payable that were accrued in the prior year. 5 Santana key invested an additional $23,400 cash in the company 7 The company purchased 35,000 of merchandise from Kansas Corp. with terms of 1/10, 1/30, FOB shipping point Invoice dated January 7. 9 The company received $2,778 cash from comer Co. as full payment on its account 11 The company completed a five-day project for Alex's Engineering Co. and billed it 55, 440, which is the total price of $6,890 less the advance payment of $1,450. The company debited unearned computer Services Revenue for $1,450 13 The company told merchandise with a retail value of 14.100 and a cost of $3,480 to Liu corp. Invoice dated January 13, 15 The company paid $678 cash for freight charges on the merchandite purchased on January 7. 16 The company received $4,190 cash from Delta Co. for computer services provided 17 The company paid Kansas Corp. for the invoice dated Januarynet of the discount ze the company rave a price reduction (allowance) of 0 to Liu Corp., and credited Liu's accounts receivable for that amount 22. The company received the balance due from Liu Carp net of the discount and the allowance 24 The company returned defective merchandise to Kansas Corp. and accepted a credit against future purchases (debited accounts payable). The defective merchandise invoice cost, net of the discount was $496 25. The company purchased $9,600 of merchandise from Kansas Corp with term of 1/10, n. Fou destination invoice dated January 26 26. The company sold merchandise with castor on data Cincinvoice tedavany 20 The company paid cash to Lydd for work at $175 per day Feb. e company paid $2,745 cash to it for another three months rent in advance in coma any pard kancas Coron the balange of the cash countless, the $498 credis from merchandise returned on January 24 the company paid dat tocco and appear on February 11 ( 1 15-in dif , Fin| : : 15 santana kadar on. (debited accounts payable). The defective merchandise invoice cost, net of the discount, was $496 26 The company purchased $9,66 of merchandise from Kansas Corp. With terms of 1/10, 1/30, FOB destination, invoice dated January 26. 26 The company sold merchandise with a $4,600 cost for $5,830 on credit to KC, Inc., invoice dated January 26. 31 The company paid cash to Lyn Addie for 10 days' work at $175 per day. Feb. 1 The company paid $2,745 cash to Hi11side Mall for another three months' rent in advance. 3 The company paid Kansas Corp. for the balance due, net of the cash discount, less the $496 credit from merchandise returned on January 24. 5 The company paid $510 cash to Facebook for an advertisement to appear on February 5 only. 11. The company received the balance due from Alex's Engineering Co. for fees billed on January 11. 15 Santana Rey withdrew $4,770 cash from the company for personal use. 23 The company sold merchandise with a $2,530 cost for $3,25e on credit to Delta Co., invoice dated February 23. 26 The company paid cash to Lyn Addie for eight days' work at $175 per day 27 The company reimbursed Santana Rey $160 for business automobile mileage. The company recorded the reimbursement as "Mileage Expense. Mar. 8 The company purchased $2,820 of computer supplies from Harris Office Products on credit with terms of n/30, FOB destination, invoice dated March 8. 9 The company received the balance due from Delta Co. for merchandise sold on February 23, 11 The company paid $960 cash for minor repairs to the company's computer 16 The company received $5,330 cash from Dream, Inc. for computing services provided 19 The company paid the full amount due of 53,930 to Harris Office Products, consisting of mounts created on December 15 (of $1,110) and March 8. 24 The company billed Easy Leasing for $9,247 of computing services provided 25 The company soid merchandise with a $2,152 cost for $2.880 on credit to Wildcat Services, Invoice dated March 25. 3e The company sold merchandise with a $1,188 cost for $2.410 on credit to II Company, invoice dated March 302 31 The company reimbursed Santana Rey 3224 for business automobile mileage. The company recorded the reimbursement as "Mileage Expense, The following additional facts are avaliable for preparing adjustments on March 31 orior to financial statement preparation a. The March 31 amount of computer supplies still available totals $2.045 b. Prepaid Insurance coverage of $636 expired during this 3-month period. c. Lyn Addle has not been paid for seven days of work at the rate of $175 per day. d. Prepaid rent of $2,745 expired during this 3-month period. e. Depreciation on the computer equipment for January 1 through March 31 is $1,080. 1. Depreciation on the office equipment for January 1 through March 31 is $400. g. The March 31 amount of merchandise Inventory still avaliable totals $584 6. Prepare a classified balance sheet from the adjusted trial ba ancel as of March 31, 2020. Part 6 of 6 6. Prepare a classified balance sheet (from the adjusted trial balance) as of March 31, 2020. -7 ints BUSINESS SOLUTIONS Balance Sheet March 31, 2020 Assets eBook Current assets Print ferences Total current assets Plant assets Office Equipment, net Computer equipment, net Total plant assets Total assets Liabilities Current liabilities