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. Account Title Debit Credit Skipped 101 106 Cash $38,664 13,318 2,645 1,920 3,280 8,300 Accounts receivable 126 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 s. Rey, Capital S. Rey, Withdrawals Computer services revenue Depreciation expense-office equipment Depreciation expense-Computer equipment 128 131 163 164 eBook 167 21,200 168 201 210 236 301 302 403 612 613 70,000 6,000 31.304 2,600 623 Wages expense 637 Insurance expense 640 Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses C 652 1,718 655 694 676 230 677 735 684 Repairs expense-Computer $101,304 $101,304 Totals Business Solutions had the following transactions and events in December 2017 2 Paid $950 cash to Hi1leide Mal1 for Business Solutions share of mall advertising costs. 3 Paid $480 cash for minor repairs to the company's computer. 4 Received $4,150 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 Bolutions bid of $7,300 on a proposed project has been Dec. a rUu Cas auvaiCe CO Duaieas DULULAUNS 15 Purchased $1,200 of computer supplies on eredit 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 $6,175 cash. 22-Took the week off for the holidays. 26 28 Received $3,400 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (500 miles at $0.25 per mile) 31 S. Rey withdrew $1,300 cash from the company for personal use. Skipped The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: eBook a. The December 31 inventory count of computer supplies shows $610 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 peid 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 too 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 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, 2017 4. Prepare an income statement for the three months ended December 31, 2017 5. Prepare a statement of owner's equity for the three months ended December 31, 2017 6. Prepare a balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. Reg 6 Req 3 Req 4 Req 5 Req 2B Req 1 Req 2A Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger Cash Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance Dec. 01 38,664 Dec. 01 13,318 Computer Supplies Prepaid Insurance Date Debit Credit Balance Date Debit Credit Balance Dec. 01 Dec. 01 2,645 1,920 Prepaid Rent Office Equipment Date Debit Credit Balance Date Debit Credit Balance Dec. 01 3,280 Dec. 01 8,300 Accumulated Depreciation-Office Equipment Computer Equipment Date Balance Debit Credit Date Debit Credit Balance Dec. 01 0 Dec. 01 21,200 Accumulated Depreciation-Computer Equipment Accounts Payable Date Debit Credit Balance Date Debit Credit Balance Dec. 01 Dec. 01 0 Wages Payable Unearned Computer Services Revenue Date Debit Credit Balance Credit Date Debit Balance Dec. 01 Dec. 01 0 0 S. Rey, Capital S. Rey, Withdrawals Date Debit Credit Balance Date Debit Credit Balance Dec. 01 Dec. 01 70,000 6,000 Computer Services Revenue Depreciation Expense-Office Equipment Date Debit Credit Balance Date Debit Credit Balance Dec. 01 31,304 Dec. 01 0 Depreciation Expense-Computer Equipment Wages Expense Date Debit Credit Balance Balance Date Debit Credit Dec. 01 Dec. 01 0 2,600 Insurance Expense Rent Expense Date Debit Credit Balance Date Debit Credit Balance Dec. 01 0 Dec. 01 0 Computer Supplies Expense Advertising Expense Date Credit Balance Date Debit Debit Credit Balance Dec. 01 0 Dec. 01 1,718 Mileage Expense Miscellaneous Expenses Debit Date Credit Balance Date Debit Credit Balance Dec. 01 Dec. 01 694 230 Repairs Expense-Computer Date Debit Credit Balance 735 Dec. 01 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. Account Title Debit Credit Skipped 101 106 Cash $38,664 13,318 2,645 1,920 3,280 8,300 Accounts receivable 126 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 s. Rey, Capital S. Rey, Withdrawals Computer services revenue Depreciation expense-office equipment Depreciation expense-Computer equipment 128 131 163 164 eBook 167 21,200 168 201 210 236 301 302 403 612 613 70,000 6,000 31.304 2,600 623 Wages expense 637 Insurance expense 640 Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses C 652 1,718 655 694 676 230 677 735 684 Repairs expense-Computer $101,304 $101,304 Totals Business Solutions had the following transactions and events in December 2017 2 Paid $950 cash to Hi1leide Mal1 for Business Solutions share of mall advertising costs. 3 Paid $480 cash for minor repairs to the company's computer. 4 Received $4,150 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 Bolutions bid of $7,300 on a proposed project has been Dec. a rUu Cas auvaiCe CO Duaieas DULULAUNS 15 Purchased $1,200 of computer supplies on eredit 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 $6,175 cash. 22-Took the week off for the holidays. 26 28 Received $3,400 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (500 miles at $0.25 per mile) 31 S. Rey withdrew $1,300 cash from the company for personal use. Skipped The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: eBook a. The December 31 inventory count of computer supplies shows $610 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 peid 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 too 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 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, 2017 4. Prepare an income statement for the three months ended December 31, 2017 5. Prepare a statement of owner's equity for the three months ended December 31, 2017 6. Prepare a balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. Reg 6 Req 3 Req 4 Req 5 Req 2B Req 1 Req 2A Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger Cash Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance Dec. 01 38,664 Dec. 01 13,318 Computer Supplies Prepaid Insurance Date Debit Credit Balance Date Debit Credit Balance Dec. 01 Dec. 01 2,645 1,920 Prepaid Rent Office Equipment Date Debit Credit Balance Date Debit Credit Balance Dec. 01 3,280 Dec. 01 8,300 Accumulated Depreciation-Office Equipment Computer Equipment Date Balance Debit Credit Date Debit Credit Balance Dec. 01 0 Dec. 01 21,200 Accumulated Depreciation-Computer Equipment Accounts Payable Date Debit Credit Balance Date Debit Credit Balance Dec. 01 Dec. 01 0 Wages Payable Unearned Computer Services Revenue Date Debit Credit Balance Credit Date Debit Balance Dec. 01 Dec. 01 0 0 S. Rey, Capital S. Rey, Withdrawals Date Debit Credit Balance Date Debit Credit Balance Dec. 01 Dec. 01 70,000 6,000 Computer Services Revenue Depreciation Expense-Office Equipment Date Debit Credit Balance Date Debit Credit Balance Dec. 01 31,304 Dec. 01 0 Depreciation Expense-Computer Equipment Wages Expense Date Debit Credit Balance Balance Date Debit Credit Dec. 01 Dec. 01 0 2,600 Insurance Expense Rent Expense Date Debit Credit Balance Date Debit Credit Balance Dec. 01 0 Dec. 01 0 Computer Supplies Expense Advertising Expense Date Credit Balance Date Debit Debit Credit Balance Dec. 01 0 Dec. 01 1,718 Mileage Expense Miscellaneous Expenses Debit Date Credit Balance Date Debit Credit Balance Dec. 01 Dec. 01 694 230 Repairs Expense-Computer Date Debit Credit Balance 735 Dec. 01