Accounting Cyde Problem Seved Help Save & Exh Submit Check my work 1 After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows Credit 00 int 101 105 126 120 131 163 164 Debit $ 38,854 13,513 2,545 2,040 3,200 8,100 Book Print $ 24.000 ferences "72.000 Account Title Cash Accounts receivable Computer supplies Prepaid intrance Prepaid rent Office equipment Accumulated depreciation office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Ucched computer services revenue Conon stock Retained earnings Dividends Computer services revenue Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Totals 5.700 168 201 210 236 307 318 319 403 612 613 623 637 640 650 655 676 677 584 31.694 2,450 0 1.688 884 220 765 510),694 $13,694 P 18 NAKE Prepare a post-closing trial balance as of December 31, 2019. Credit Book Print erences BUSINESS SOLUTIONS Post Closing Trial Balance December 31, 2019 Debit Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Unearned computer services revenue Common stock Retained earnings Totals w Prey 1 of 1 !!! Next here to search O 89 Check my work Business Solutions had the following transactions and events in December 2019. Dec. 2 Paid $930 cash to Hillside Mall for Business Solutions share of wall advertising costs. 3 Paid $440 cash for minor repairs to the company's computer. 4 Received $4,850 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 $115 per day. 14 Notified by Alex's Engineering Co. that Business Solutions bid of $7.600 on a proposed project has been accepted. Alex's paid a $1,900 cash advance to Business Solutions. 15 Purchased $1, see 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 $6,325 cash. 22- Took the week off for the holidays. 26 28 Received $3,000 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile wileage (600 alles at $0.31 per sile alles 31 The company paid $1,200 cash in dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months 6. The December 31 inventory count of computer supplies shows $590 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 $115 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 1. Three of the four months prepaid rent have expired. 1 90 Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions 2-6. Prepare adjusting entries to reflect a through 2-b. Post the journal entries to record each of the December transactions from Requirement 1 and adjusting entries from Requirement 2A After completing Requirement 7. post the closing entries to the general ledger accounts. 3. Prepare an adjusted trial balance as of December 31, 2019 4. Prepare an income statement for the three months ended December 31, 2019 5. Prepare a statement of retained earnings for the three months ended December 31, 2019 6. Prepare a balance sheet as of December 31, 2019 7. Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 28 8. Prepare a post.closing trial balance as of December 31, 2019. too