Business Solutions had the following transactions and events in

December $2017.$ Dec. $2$ Paid $$930$ cash to Hillside Mall for Business

Solutions$$ share of mall advertising costs. $3$ Paid $$500$ cash for

minor repairs to the company$$s computer. $4$ Received $$4,650$ 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 $$115$ per

day. $14$ Notified by Alex$$s Engineering Co$.$ that Business Solutions$$

bid of $$7,700$ on a proposed project has been accepted. Alex$$s paid

a $$1,600$ cash advance to Business Solutions. $15$ Purchased $$1,700$ 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 Liu Corporation and received

$$6,475$ cash. $2226$ Took the week off for the holidays. $28$ Received

$$3,700$ cash from Gomez Co$.$ on its receivable. $29$ Reimbursed S$.$ Rey

for business automobile mileage $(600$ miles at $$0\mathrm{.}24$ per mile$).31$

S$.$ Rey withdrew $$1,300$ cash from the company for personal use. 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 $$600$ 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 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

$31,2017.$