After the success of the companys first two months, Santana Rey continues to operate Business Solutions. The November 30, 2017, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2017) follows.
| No. | Account Title | Debit | Credit |
| 101 | Cash | $ | 38,664 | | | |
| 106 | Accounts receivable | | 13,518 | | | |
| 126 | Computer supplies | | 2,645 | | | |
| 128 | Prepaid insurance | | 2,160 | | | |
| 131 | Prepaid rent | | 3,080 | | | |
| 163 | Office equipment | | 8,800 | | | |
| 164 | Accumulated depreciationOffice equipment | | | | $ | 0 |
| 167 | Computer equipment | | 22,000 | | | |
| 168 | Accumulated depreciationComputer equipment | | | | | 0 |
| 201 | Accounts payable | | | | | 0 |
| 210 | Wages payable | | | | | 0 |
| 236 | Unearned computer services revenue | | | | | 0 |
| 307 | Common stock | | | | | 72,000 |
| 318 | Retained earnings | | | | | 0 |
| 319 | Dividends | | 5,800 | | | |
| 403 | Computer services revenue | | | | | 30,319 |
| 612 | Depreciation expenseOffice equipment | | 0 | | | |
| 613 | Depreciation expenseComputer equipment | | 0 | | | |
| 623 | Wages expense | | 2,475 | | | |
| 637 | Insurance expense | | 0 | | | |
| 640 | Rent expense | | 0 | | | |
| 652 | Computer supplies expense | | 0 | | | |
| 655 | Advertising expense | | 1,648 | | | |
| 676 | Mileage expense | | 624 | | | |
| 677 | Miscellaneous expenses | | 180 | | | |
| 684 | Repairs expenseComputer | | 725 | | | |
| | Totals | $ | 102,319 | | $ | 102,319 |
After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2017, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2017) follows. No. Crede 101 106 126 Debit 38,664 13,518 2,645 2.180 3,080 128 163 164 167 168 201 210 238 307 72000 318 Account Title 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 Uneamed computer services revenue Common 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 Mege expense Mitcareis expenses Repars expense Computer Ta 319 5,600 403 30,319 612 613 623 637 640 652 555 684 11 Business Solutions had the following transactions and events in December 2017. Dec. 2 Paid $1.005 Cash to like Mall for Business S h are of all adverthing costs 3 Pald $420 cash for minor repare to the company's computer 4 Received $4,050 cash from Alex's Engineering Co. for the receivable from November 10 Paid cash to Lyn Addia for six days of work at the rate of $115 per day. 14 Notified by Alex's Engineering Co that Business Solutions bid of $7.900 on a proposed project has been accepted. Alex's paid a $1,700 cash advance to Business Solutions 16 Purchased $1,300 of computer supplies on credit from Harris Office Products 16 Sent a reminder to Gomez Co to pay the Me for services recorded on November 8 20 Completed a project for Ulu Corporation and received $6.175 cash. 22-Took the work off for the holidays 26 28 Received $4.000 cash from Gomez co on its receivable 29 Reimbursed S. Rey for business automobile mileage (400 miles at 50.31 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 $040 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 f. Three of the four months prepaid rent has expired. Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions 2-a. Prepare adjusting entries to reflect a through 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, 2017 4. Prepare an income statement for the three months ended December 31, 2017 5. Prepare a statement of retained earnings for the three months ended December 1, 2017 6. Prepare a balance sheet as of December 31, 2017 7. Record and post the necessary closing entries as of December 31, 2017 8. Prepare a post-closing trial balance as of December 31 2017 Complete this question by entering your answers in the tnbe below. RG 1 Reg 2A Reg 28 Reg 3 Reg 4 Reg 5 Req 6 Reg 7 Reg 8 Prepare journal entries to record each of the December transactions and events for Business Solutions. (If no entry is required for a transaction event, select "No Journal Entry Required in the first account field.) Journal entry worksheet 2 3 4 5 6 7 Paid $1,005 cash to Hillside Mall for Business Solutions' share of m advertising costs Note: Enter debits before credits Date General Journal Dobit Credit Dec 02
