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After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, 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, 2019, unadjusted trial balance of Business Solutions (reflecting the transaction for October and November of 2019) follows:

Need help with Required 2B:

Post the journal entries to record each of the December transaction from Requirement 1 and adjusting entries from Requirement 2A. After completing Requirement 7 post the closing entries to the general ledger accounts.

After closing entries in Required 7, post all the closing entries in your T-account in Required 2B. Be sure to put 12/31 for adjusting entries and closing entries in your T-accounts.

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Business Solutions had the following transactions and events in December 2019.

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Required 2B:

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Required 1:

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Required 2A:

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Required 7:

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Required 3:

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Required 4:

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Required 8:

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Dec. 2 Paid $1,010 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Pald $460 cash for minor repairs to the company's computer. 4 Received $4,850 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 $100 per day. 14 Notifled by Alex's Engineering Co. that Business Solutions' bld of $7,300 on a proposed project has been accepted. Alex's paid a $1,600 cash advance to Business Solutions. 15 Purchased $1.200 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 Llu Corporation and received $5,975 cash. 22-28 Took the week off for the holidays. 28 Received $3,400 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (500 miles at $0.27 per mile). 31 The company pald $1,000 cash In dividends. Reg 1 Req 2A Req 2B Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Reg 8 Post the journal entries to record each of the December transactions from Requirement 1 and adjusting entries from Requirement 2A. Requirement 7, post the closing entries to the general ledger accounts. 101: Cash 106: Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance Dec. 01 38,564 Dec. 01 12.918 Dec. 04 4,850 1,600 Dec. 14 43,414 45,014 50,989 Dec. 20 5,975 Dec. 28 3,400 54,389 126: Computer Supplies Debit Credit 128: Prepaid Insurance Debit Credit Date Balance Date Balance Dec. 01 Dec. 01 1,980 2,545 3,745 Dec. 15 1,200 131: Prepaid Rent Debit Credit 163: Office Equipment Debit Credit Date Balance Date Balance Dec. 01 2.940 Dec. 01 8,000 167: Computer Equipment Debit Credit Date 164: Accumulated Depreciation - Office Equipment Date Debit Credit Balance Dec. 01 0 Dec. 31 X 400 400 Balance 22,400 Dec. 01 201: Accounts Payable Debit Credit Date Balance 168: Accumulated Depreciation-Computer Equipment Date Debit Credit Balance Dec. 01 0 Dec. 31 X 1,400 1,400 Dec. 01 0 Dec. 31 X 1,200 1,200 210: Wages Payable Debit Credit 236: Unearned Computer Services Revenue Date Debit Credit Balance Date Balance Dec. 01 0 Dec. 01 0 Dec. 31 X 400 400 Dec. 14 1,600 1,600 307: Common Stock 318: Retained Earnings Debit Credit Date Debit Credit Balance Date Balance Dec. 01 73,000 Dec. 01 0 319: Dividends 403: Computer Services Revenue Debit Credit Date Debit Credit Date Balance 6,400 Balance 28, 174 Dec. 01 Dec. 01 Dec. 31 1,000 7,400 Dec. 20 5,975 34,149 34,149 612: Depreciation Expense-Office Equipment Date Debit Credit Balance Dec. 01 0 613: Depreciation Expense-Computer Equipment Date Debit Credit Balance Dec. 01 0 Dec. 31 x 400 400 Dec. 31 X 1,400 1,400 623: Wages Expense Debit Credit 637: Insurance Expense Debit Credit Date Date Balance Dec. 01 Dec. 01 0 Balance 2.150 2,750 3,150 600 Dec. 31 X 495 495 Dec. 10 Dec. 31 x 400 3,150 640: Rent Expense Debit Credit 652: Computer Supplies Expense Debit Credit Date Balance Balance Date Dec. 01 Dec. 01 0 0 Dec. 31 x Dec. 15 X 1.200 X 1,200 2,205 2,205 655: Advertising Expense Debit Credit 676: Mileage Expense Debit Credit Date Balance Date Balance Dec. 01 654 1,638 2,648 Dec. 01 Dec. 29 Dec. 02 1,010 135 789 677: Miscellaneous Expense Debit Credit 684: Repairs Expense-Computer Debit Credit Date Balance Date Balance Dec. 01 220 Dec. 01 765 Dec. 03 460 1,225 901: Income Summary Debit Credit Date Balance No Date General Journal Debit Credit 1 Dec 02 Advertising expense 1,010 Cash 1,010 2 Dec 03 Repairs expenseComputer 460 Cash 460 3 Dec 04 Cash 4,850 > Accounts receivable 4,850 4 Dec 10 Wages expense 600 Cash 600 5 Dec 14 Cash 1,600 > Unearned computer services revenue 1,600 6 Dec 15 1,200 > Computer supplies Accounts payable 1.200 7 Dec 16 No journal entry required 8 Dec 20 Cash 5,975 Computer services revenue 5,975 9 Dec 28 Cash 3,400 Accounts receivable 3,400 10 Dec 29 Mileage expense 135 > Cash 135 Reg 1 Req 2A Req 2B Reg 3 Req 4 Reg 5 Req 6 Req 7 Req 8 Prepare adjusting entries to reflect a through f. No Transaction General Journal Debit Credit 1 a. 3,085 Computer supplies expense Computer supplies 3,085 2 b. Insurance expense 495 Prepaid insurance 495 3 C. 400 Wages expense Wages payable 400 4 d. 1,400 Depreciation expenseComputer equipment Accumulated depreciationComputer equipment 1,400 5 e. 400 Depreciation expense-Office equipment Accumulated depreciationOffice equipment 400 6 f. Rent expense 2,205 Prepaid rent 2,205 Reg 1 Req 2A Reg 2B Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Reg 8 Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger Requirement 2B. NO General Journal Debit Credit 1 Dec. 31 34.149 Computer services revenue Income summary 34,149 Dec. 31 400 1,400 3,150 495 Income summary Depreciation expense Office equipment Depreciation expense-Computer equipment Wages Expense Insurance expense Rent expense Computer Supplies Expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer 2205 w OOO 3,085 2.648 789 1.225 Dec. 31 18,502 X Income summary Retained earnings 18,502 X Reg 1 Req 2A Req 2B Req3 Req 4 Reg 5 Req Credit S 400 1.400 1,200 Prepare an adjusted trial balance as of December 31, 2019. BUSINESS SOLUTIONS Adjusted Trial Balance December 31, 2019 Account Title Debit Cash $ 51,184 Accounts receivable 4,668 Computer supplies 660 Prepaid insurance 1,485 Prepaid rent 735 Office equipment 8,000 Accumulated depreciation Office equipment Computer equipment 22,400 Accumulated depreciation-Computer equipment Accounts payable Wages payable Uneared computer services revenue Common stock Retained earnings Dividends 7,400 Computer services revenue Depreciation expense-Office equipment 400 Depreciation expense-Computer equipment 1,400 Wages expense 3,150 Insurance expense 495 Rent expense 2,205 Computer supplies expense 3,085 Advertising expense 2,648 Mileage expense 789 Miscellaneous expenses 220 Repair's expense-Computer 1,225 Totals $ 112,149 400 1.600 73,000 34,149 OOO 112,149 Reg 1 Req 2A Req 2B Req3 Reg 4 Reg 5 Red Prepare an income statement for the three months ended December 31, 2019. BUSINESS SOLUTIONS Income Statement For Three Months Ended December 31, 2019 Revenue Computer services revenue 34,149 400 Expenses Depreciation expense-Office equipment Depreciation expense=Computer equipment Wages expense Insurance expense 1.400 3,150 495 Rent expense 2.205 3.085 CO 2,648 Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer 789 220 1,225 Total expenses 15,617 $18,532 --- Net income Req 1 Req 2A Req 2B Reg 3 Reg 4 Reg 5 Reg 6 Req 7 Reg 8 Prepare a post-closing trial balance as of December 31, 2019. BUSINESS SOLUTIONS Post-Closing Trial Balance December 31, 2019 Debit Credit Cash $ 51,184 4,668 Accounts receivable 660 1,485 735 8,000 $ 400 22,400 Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciationOffice equipment Computer equipment Accumulated depreciationComputer equipment Accounts payable Wages payable Unearned computer services revenue Common stock Retained earnings Totals 1,400 1,200 00 400 1,600 73,000 0 $ 89,132 $ 78,000

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