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After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,2021. unadjusted trial balance of Business Solutions

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After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,2021. unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2021) follows Business Solutions had the following transactions and events in December 2021. Decomber 2 Paid $940cabh to Billoide Mall for Business Solutions'a ahare of mall advertiasng doste. December 3 Pald $480 cash for minor repairs to the eompany's eomputer. December 4 Received $3,950 cash from Nlex's Engineering Company for the roceivable from November. Docomber 10 paid canh to tyn Addie for $ix daya of work at the rate of $105 por day. Decembor 14 Notified by Mlex's Engineering Coapany that Business Solutions's bid of $7,200 on a proponed project has been accepted. Alex's paid a $2;500 canh advance to Duainess solutions. Decembor 15 Purchased $1,200 of computer supplies on orodit fron flarris office producta. December 15 Sent a reainder to Coeez Company to pay the lee for servieen recorded on November 8. Decerber 20 Completed a project for Liu Corporation and received $6,375 cash. Decembor 2226 Took the wook off for the holidays. Decoember 28 Roceived $3,500 cash froth Comez Coepany on its receivable. December 29 Reimburaed S. Rey for businede automobile mileage ( 500 mileo at $0.29 por mile). Decembor 31 Paid $1,000 canh 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 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 $680 still available. b. Three months have expired since the 12 -month insurance premlum was pald in advance. c. As of December 31, Lyn Addle has not been paid for four days of work at $105 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 explred. Required: 1. Prepare joumal entries to record each of the December transactions. Post those entries to the accounts in the ledger. 2-a. Prepare adjusting entries to refiect a through f. 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger: 3. Prepare an adjusted trial balance as of December 31,2021. 4. Prepare an income statement for the three months ended December 31, 2021. 5. Prepare a statement of retained earnings for the three months ended December 31, 2021. 6. Prepare a classified balance sheet as of December 31,2021. 7. Record the nocessary closing entries as of December 31,2021. 8. Prepare a post-closing trial balance as of December 31,2021. Inoome Statement: For Three Months Endod Decombor 31, 2021 \begin{tabular}{|l|l|l|} \hline Revenue & & \\ \hline & & \\ \hline Expenses & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular}

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