After the success of the company's first two months, Adria Lopez continues to operate Success Systems. Success Systems had the following transactions and events in December 2016. Dec. 2 Paid $1,025 cash to Hillside Mall for Success Systems' share of mall advertising costs. Paid $500 cash for minor repairs to the company's computer. Received $3,950 cash from Alex's Engineering Co. for the receivable from November. 1O Paid cash to Lyn Addie for six days of work at the rate of $125 per day. Notified by Alex's Engineering Co. that Success Systems' bid of $7,000 on a proposed project has been accepted. Alexs paid a $1,500 cash advance to Success Systems. Purchased $1,100 of computer supplies on credit from Harris Office Products. 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 $5,625 cash . 22-26 Took the week off for the holidays. Received $3,000 cash from Gomez Co. on its receivable. Reimbursed A. Lopez for business automobile mileage (600 miles at $0.32 per mile). 31 The business paid $1,500 cash for 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: The December 31 inventory count of computer supplies shows $580 still available. Three months have expired since the 12-month insurance premium was paid in advance. As of December 31, Lyn Addie has not been paid for four days of work at $125 per day. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. The office equipment acquired on October 1 is expected to have a five-year life with no salvage value. Three of the four months prepaid rent has expired. Required: Prepare journal entries to record each of the December transactions and events for Success Systems. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) Prepare adjusting entries to reflect a through f. 2.2 Post the journal entries for each of the December transactions and adjusting entries to the accounts in the general ledger. Prepare an adjusted trial balance as of December 31, 2016. Prepare an income statement for the three months ended December 31, 2016. Prepare a statement of retained earnings for the three months ended December 31, 2016. Prepare a balance sheet as of December 31, 2016. (Amounts to be deducted should be indicated with a minus sign.) Record the necessary closing entries for Success Systems. (If no entry is required for a particular transaction, select "No journal entry required in the first account field.) Prepare a post-closing trial balance as of December 31, 2016.

opening bal

Date	Account Titles	Debit	Credit
		$	$
Oct 1	Cash	55,000
	Computer Equipment	20,000
	Office Equipment	8,000
	Common Stock		83,000
Oct 1	Prepaid Rent	3,300
	Cash		3,300
Oct 3	Computer Supplies	1,420
	Accounts Payable		1,420
Oct 3	Prepaid Insurance	2,220
	Cash		2,220
Oct 3	Accounts Receivable	4,800
	Computer Services Revenue		4,800
Oct 8	Accounts Payable	1,420
	Cash		1,420
Oct 10	No journal entry required
Oct 12	Accounts Receivable	1,400
	Computer Services Revenue		1,400
Oct 15	Cash	4,800
	Accounts Receivable		4,800
Oct 17	Repairs Expense ; Computer	805
	Cash		805
Oct 20	Advertising Expense	1,940
	Cash		1,940
Oct 22	Cash	1,400
	Accounts Receivable		1,400
Oct 28	Accounts Receivable	5,208
	Computer Services Revenue		5,208
Oct 31 a.	Wages Expense	875
	Cash		875
Oct 31 b.	Dividends	3,600
	Cash		3,600
Nov 1	Mileage Expense	320
	Cash		320
Nov 2	Cash	4,633
	Computer Services Revenue		4,633
Nov 5	Computer Supplies	1,125
	Cash		1,125
Nov 8	Accounts Receivable	5,668
	Computer Services Revenue		5,668
Nov 13	No journal entry required
Nov 18	Cash	2,208
	Accounts Receivable		2,208
Nov 22	Miscellaneous Expense	250
	Cash		250
Nov 22	Accounts Receivable	3,950
	Computer Services Revenue		3,950
Nov 22	No entry required
Nov 28	Mileage Expense	384
	Cash		384
Nov 30a	Wages Expense	1,750
	Cash		1,750
Nov 30b	Dividends	2,000
	Cash		2,000

Success Systems

Unadjusted Trial Balance

November 30

Accounts	Debit	Credit
	$	$
Cash	48,052
Accounts Receivable	12,618
Computer Supplies	2,545
Prepaid Rent	3,300
Prepaid Insurance	2,220
Computer Equipment	20,000
Office Equipment	8,000
Accounts Payable		0
Common Stock		83,000
Dividends	5,600
Computer Services Revenue		25,659
Wages Expense	2,625
Advertising Expense	1,940
Repairs Expense: Computer	805
Mileage Expense	704
Miscellaneous Expense	250
Totals	108,659	108,659