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Title 101 106 126 128 131 163 164 167 168 201 210 236 307 318 319 403 612 613, 623 637 640 652 655 T676 677 684 901 Account Cash Aceountg receivable 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 D dends Computer services revenue Depreciation expenseOffice equipment Depreciation expenseComputer equipment wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expenseComputer Income summary Totals Debit $ 38,764 13,518 2,645 1,990 3,060 8,200 22,000 5,900 2,150 1,648 684 150 775 Credit 64,000 37,474 $ 101,474 $ 101,474 Business Solutions had the following transactions and events in December 2021. December 2 December 73 December 4 December 10 December 14 15 December 16 December 20 December 2226 December 28 December 29 December 31 Paid $995 cash Hiliside, Mali for Business Solutions 's share of mall advertising costs. paid $450; cash for tn$not repairs to the company computer. Received $4, 150 'cash from Engineering Company for the receivable from November. Paid cash to Lyn Addie Six days of work at 'the rate of $105 per day. Notified by Alexes Engineering Company that Business Solutions's bid of $7,900 on a proposed project ha. been accepted. Alex'S paid ua 192,500 cash advance to Business Solutions. Purchased $1, JOO .oi supplies on credit from Harris Office Products. Sent a, reminder to Gomez Company to pay the fee for services recorded on November 8. Completed project for. ICorporation gnd received $6, 075 cash. Took the veek off 'for the holidays Received $34800 1 cash from Gomez Company pn 'its receivable. Reimbursed S; Rey business automobile mileage (400 miles at $0.27 per mile) . paid '$1 , 300 cash dividendgv The following additional facts are collected fpr yse jn 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 $620 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 $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 I is expected to have a five-year life with no salvage value. f, Three of the four months' prepaid rent have expired. Required: 1. Prepare Journal entries to record each Of the December transactions, post those, entries to the accounts in the ledger. 2-a. Prepare adjusting entries to reflect a through f 2-b. Post the Journal entries to record each of the December transactions adJustinq entries to the accounts in the ledger. 3. Prepare an adjuste < trial balance as of December 31, 2021. 4. Prepare an income statement for the three months ended Decembek 31, 2021, S. Prepare statement Of retained earnings for the three months ended 31, 202 t 6. Prepare a classified balance sheet as of December 31, 2021. 7. Record the necessary closing entries as of December 31, 2021. 8. Prepare @ post-closing trial Valance of Pecember 31, 20?1,