BUS-1.20 Assignment Week 1-1 - Seved to this PC Design Layout References Mailings Review View Help Week 3 Assignment Ousiness Solutions Totals 198.699 398.692 Figure 2 shows the ansactions and events Business Solutions had in December 2018 Figure 2. Transactions and Events - December 2018 This assignment has two parts 1 Reviews problem 2 Complete the assignment with the template in Canvas Week 3 Part 1: Problem Alter the success achieved in the first two months of operations Business Solutions continues to be managed by Santana Rey. The November 30, 2018, unased nal balance of the company reflecting transactions for October and November of 2018. is shown in Figure 1 Month Day Transaction Pad 51,025 cash to Hide Mat for Busines s fare of mal advertising 3 Paid $500 cash for in repairs to the company's copuler Received $3,950 cash from Alex's Engineering Co for the recite om November Pald cash to Lyn Adde for days of work at the rate of 112 per day Notified by Alex's Engineering Co that business Solutions bid of $7,000 on proposed proped has been accepted es pada 51.500 cash advance la Buss Debit Figure 1. Unadjusted Tral Balance - November 30, 2018 Account Title 101 Cash 106 Accounts Receivable 126 Computer Supplies 128 Prepand insurance 131 Prepaid Rent Sent a reminder to Gomez ce to pay the fee for Escolded on November 20 Completed a project for Corporation and received 55.625 cash 22 26 Took the work of for the holidays 26 Received 11,000 cash from Gomez Ce ons receivable 22 R eimbursed 5. Rey for business automobile mileage 000 miles 0.22 per mile) 31. S. Rey withdrew 51,500 cash from the company for personal use 168 201 210 Accumulated Depreciation - Once Equipm Computer Equipment Accumulated Depreciation Computer E Accounts Payable Wages Payabile Uneamed Computer Services Revenue 5. Rey. Capital 5. Hey, Withdrawal Computer Services Revenue Depreciation Expense - Office Equipment Depreciation Expense Computer Equipment The following adonal acts are collected for use in making antingentes prior to preparing financial statements for the company's three months The December 31 inventory count of computer supplies whows 9580 avatable Three months have expered since the 12-month insurance premium was paid in advance . As of December 31, Lyn Addie has not been paid for four days of work at $125 per day - The computer system, acquired on October 1, is expected to have a four-year te with no salvage 2.36 301 302 403 612 613 The office equipment acquired on October 1, expected to have a freyear we with no salvage - Three of the four months prepaid rent has expired 632 655 675 Computer Supplies i pense Advertising Expense Mileage Expense Miscellaneous Expenses Repal's Expense. Computer Part 2: Assignment Use the Business Solutions template to complete the assignment 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. Post those entries to the accounts in the ledger 2. Prepare a n d entries to reflect a thought Post those ones to the accounts in the ledger repare an d ceas of Dec 31, 2 Prepare an income statement for the three months ended December 31, 2018 Prepare a statement of owner's equity for the three months ended December 31, 2018 6. Prepare a balance sheet as of December 31, 2018 684 DR CR 1 Date Account 12/21 2 Adjustment 652 Computer Supplies Expense 126 Computer Supplies 637 Insurance Expense 128 Prepaid Insurance 40 623 Wages Expense 210 Wages Payable d 613 Depr. Expense - Comp. Equip 168 Accum. Deprec-Comp Equip 612 Depr. Expense - Office Equip 164 Accum. Deprec-Office Equipment f 640 Rent Expense 131 Pre Paid Rent # Bosne 12,61 4 Dance 3,300 220 D e 25659 Babe est Of E F G H B C D Trial Balance December 31, 2018 Unadjusted Adjusted Credit Debit Credit Debit 38,264 12,618 2,545 2,220 3,300 8,000 Adjusted Trial Balance Debit Credit 38,264 12,618 2,545 2,220 3,300 8,000 20,000 20,000 4 101 Cash 5 106 Accounts Receivables 6 126 Computer Supplies 7 128 Prepaid Insurance 8 131 Pre Paid Rent 9 163 Office Equipment 10 164 Accum. Deprec-Office Equipment 11 167 Computer Equipment 12 168 Accum. Deprec-Comp Equip 13 201 Accounts Payable 14 210 Wages Payable 15 236 Unearned Comp Serv Revenue 16 309 S Rey - Capital 17 302 S Rey - Withdrawals 18 403 Computer Services Revenue 19 612 Depr. Expense - Office Equip 20 613 Depr. Expense - Comp. Equip 21 623 Wages Expense 22 637 Insurance Expense 23 640 Rent Expense 24 652 Computer Supplies Expense 25 655 Advertising Expense 26 676 Milleage expense 27 677 Misc Expense 28 684 Repairs Expense - Comp 73,000 73,000 5,600 ,000 25,659 25,659 704 250 805 805 98,659 98,65998,659 10 98,659 Dald Review View Help f ='Trial Bal!H18 Balance Sheet December 31, 2018 Statement of Owners Equity December 31, 2018 Income Statement December 31, 2018 Assets 3018 Rey-Capital Net Income Revenues 38,264 12,618 73000 19.5478 92.547 403 Computer Services Revenue 125.550 302 S Rey - Withdrawals Expenses 101Cash 106 Accounts Receivables 126 Computer Supplies 128 Prepaid Insurance 131 Pre Pad Rent 163 Office Equipment 164 Accum. Deprec-Office Equipmen 167 Computer Equipment 168 Acoum. Deprec-Comp Equip 5.600 86,947 8,000 20.000 0 20.000 06 947 612 Dept. Expense-Olfice Equi 613 Depr. Expense - Comp. Equ 623 Wages Expense 637 Insurance Expense 640 Rent Expense 652 Computer Supplies Expense 655 Advertising Expense 676 Mileage expense 677 Misc Expense 684 Repairs Expense-Comp Total Expenses Net Income 201 Accounts Payable 210 Wages Payable 236 Unearned Comp Serv Revenue OOOO 6.12 19.4 Equy 301S Rey-Capital 2014 86.947 BUS-1.20 Assignment Week 1-1 - Seved to this PC Design Layout References Mailings Review View Help Week 3 Assignment Ousiness Solutions Totals 198.699 398.692 Figure 2 shows the ansactions and events Business Solutions had in December 2018 Figure 2. Transactions and Events - December 2018 This assignment has two parts 1 Reviews problem 2 Complete the assignment with the template in Canvas Week 3 Part 1: Problem Alter the success achieved in the first two months of operations Business Solutions continues to be managed by Santana Rey. The November 30, 2018, unased nal balance of the company reflecting transactions for October and November of 2018. is shown in Figure 1 Month Day Transaction Pad 51,025 cash to Hide Mat for Busines s fare of mal advertising 3 Paid $500 cash for in repairs to the company's copuler Received $3,950 cash from Alex's Engineering Co for the recite om November Pald cash to Lyn Adde for days of work at the rate of 112 per day Notified by Alex's Engineering Co that business Solutions bid of $7,000 on proposed proped has been accepted es pada 51.500 cash advance la Buss Debit Figure 1. Unadjusted Tral Balance - November 30, 2018 Account Title 101 Cash 106 Accounts Receivable 126 Computer Supplies 128 Prepand insurance 131 Prepaid Rent Sent a reminder to Gomez ce to pay the fee for Escolded on November 20 Completed a project for Corporation and received 55.625 cash 22 26 Took the work of for the holidays 26 Received 11,000 cash from Gomez Ce ons receivable 22 R eimbursed 5. Rey for business automobile mileage 000 miles 0.22 per mile) 31. S. Rey withdrew 51,500 cash from the company for personal use 168 201 210 Accumulated Depreciation - Once Equipm Computer Equipment Accumulated Depreciation Computer E Accounts Payable Wages Payabile Uneamed Computer Services Revenue 5. Rey. Capital 5. Hey, Withdrawal Computer Services Revenue Depreciation Expense - Office Equipment Depreciation Expense Computer Equipment The following adonal acts are collected for use in making antingentes prior to preparing financial statements for the company's three months The December 31 inventory count of computer supplies whows 9580 avatable Three months have expered since the 12-month insurance premium was paid in advance . As of December 31, Lyn Addie has not been paid for four days of work at $125 per day - The computer system, acquired on October 1, is expected to have a four-year te with no salvage 2.36 301 302 403 612 613 The office equipment acquired on October 1, expected to have a freyear we with no salvage - Three of the four months prepaid rent has expired 632 655 675 Computer Supplies i pense Advertising Expense Mileage Expense Miscellaneous Expenses Repal's Expense. Computer Part 2: Assignment Use the Business Solutions template to complete the assignment 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. Post those entries to the accounts in the ledger 2. Prepare a n d entries to reflect a thought Post those ones to the accounts in the ledger repare an d ceas of Dec 31, 2 Prepare an income statement for the three months ended December 31, 2018 Prepare a statement of owner's equity for the three months ended December 31, 2018 6. Prepare a balance sheet as of December 31, 2018 684 DR CR 1 Date Account 12/21 2 Adjustment 652 Computer Supplies Expense 126 Computer Supplies 637 Insurance Expense 128 Prepaid Insurance 40 623 Wages Expense 210 Wages Payable d 613 Depr. Expense - Comp. Equip 168 Accum. Deprec-Comp Equip 612 Depr. Expense - Office Equip 164 Accum. Deprec-Office Equipment f 640 Rent Expense 131 Pre Paid Rent # Bosne 12,61 4 Dance 3,300 220 D e 25659 Babe est Of E F G H B C D Trial Balance December 31, 2018 Unadjusted Adjusted Credit Debit Credit Debit 38,264 12,618 2,545 2,220 3,300 8,000 Adjusted Trial Balance Debit Credit 38,264 12,618 2,545 2,220 3,300 8,000 20,000 20,000 4 101 Cash 5 106 Accounts Receivables 6 126 Computer Supplies 7 128 Prepaid Insurance 8 131 Pre Paid Rent 9 163 Office Equipment 10 164 Accum. Deprec-Office Equipment 11 167 Computer Equipment 12 168 Accum. Deprec-Comp Equip 13 201 Accounts Payable 14 210 Wages Payable 15 236 Unearned Comp Serv Revenue 16 309 S Rey - Capital 17 302 S Rey - Withdrawals 18 403 Computer Services Revenue 19 612 Depr. Expense - Office Equip 20 613 Depr. Expense - Comp. Equip 21 623 Wages Expense 22 637 Insurance Expense 23 640 Rent Expense 24 652 Computer Supplies Expense 25 655 Advertising Expense 26 676 Milleage expense 27 677 Misc Expense 28 684 Repairs Expense - Comp 73,000 73,000 5,600 ,000 25,659 25,659 704 250 805 805 98,659 98,65998,659 10 98,659 Dald Review View Help f ='Trial Bal!H18 Balance Sheet December 31, 2018 Statement of Owners Equity December 31, 2018 Income Statement December 31, 2018 Assets 3018 Rey-Capital Net Income Revenues 38,264 12,618 73000 19.5478 92.547 403 Computer Services Revenue 125.550 302 S Rey - Withdrawals Expenses 101Cash 106 Accounts Receivables 126 Computer Supplies 128 Prepaid Insurance 131 Pre Pad Rent 163 Office Equipment 164 Accum. Deprec-Office Equipmen 167 Computer Equipment 168 Acoum. Deprec-Comp Equip 5.600 86,947 8,000 20.000 0 20.000 06 947 612 Dept. Expense-Olfice Equi 613 Depr. Expense - Comp. Equ 623 Wages Expense 637 Insurance Expense 640 Rent Expense 652 Computer Supplies Expense 655 Advertising Expense 676 Mileage expense 677 Misc Expense 684 Repairs Expense-Comp Total Expenses Net Income 201 Accounts Payable 210 Wages Payable 236 Unearned Comp Serv Revenue OOOO 6.12 19.4 Equy 301S Rey-Capital 2014 86.947