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After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2018, unadjusted trial balance of Business
After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2018, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2018) follows. No. Account Title 101 Cash 106 126 128 Accounts receivable Computer supplies Prepaid insurance 131 Prepaid rent 163 Office equipment ok 164 Accumulated depreciation-office equipment 167 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable int 210 Wages payable 236 Unearned computer services revenue 387 Common stock 318 Retained earnings 319 Dividends ences 403 612 613 623 Wages expense 637 Insurance ance expense 640 Rent expense 652 Computer services revenue Depreciation expense-office equipment Depreciation expense-Computer equipment Computer supplies expense 655 Advertising expense 676 Mileage expense 677 Miscellaneous expenses 684 Repairs expense-Computer Totals Debit $38,464 Credit 12,818 2,545 2,228 3,000 8,600 21,600 67,000 6,200 34,394 2,600 1,678 704 220 745 $101,394 $101,394 Business Solutions had the following transactions and events in December 2018 share of all advertising costs . ces 677 684 Miscellaneous expenses Repairs expense-Computer Totals 220 745 $101,394 $101,394 Business Solutions had the following transactions and events in December 2018. 2 Paid $970 cash to Hillside Mall for Business Solutions' share of mall advertising costs. Dec. 3 Paid $420 cash for minor repairs to the company's computer. 4 Received $3,950 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 $120 per day.. 14 Notified by Alex's Engineering Co. that Business Solutions bid of $7,600 on a proposed Iroject has been accepted. Alex's paid a $1,600 cash advance to Business Solutions. 15 Purchased $2,100 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 $6,525 cash. 22- Took the week off for the holidays. 26 28 Received $3,888 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (480 miles at $0.30 per mile). 31 The company paid $1,400 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: a. 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 $120 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. f. Three of the four months' prepaid rent have expired. ces Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 3 Req 4 Req 5 Req 6 Req 7 Req 8 Prepare a post-closing trial balance as of December 31, 2018. Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent BUSINESS SOLUTIONS Post-Closing Trial Balance December 31, 2018 Debit Credit Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Uneamed computer services revenue Common stock Retained earnings Totals $ 0 $ 0 < Req 7 Req B>
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