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can someone walk me through and help me complete the table? Three months have expired since the 12 -month insurance premium was paid in advance.
can someone walk me through and help me complete the table?
Three months have expired since the 12 -month insurance premium was paid in advance. Note: Enter debits before credits. Ater the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30,2021. unad) usted trial balance of Business Solutions (teflecting its transactions for October and November of 2027 ) follows: Business Solutions fad the following transactions and events in December 2021. \begin{tabular}{|l|l|} \hline Unearned computer services revenue \\ \hline S. Rey, Capital \\ \hline Computer Services revenue \\ \hline Depreciation expense-Office equipment \\ \hline Depreciation expense-Computer equipment \\ \hline Wages expense \\ \hline Insurance expense \\ \hline Rent expense \\ \hline Computer supplies expense \\ \hline Advertising expense \\ \hline Mileage expense \\ \hline Miscellaneous expenses \\ \hline Repairs expense-Computer \\ \hline Totals \\ \hline \end{tabular} Journal entry worksheet The office equipment, acquired on October 1 , is expected to have a five-year life with no salvage value. Note: Enter debits before credits. \begin{tabular}{|c|c|c|r|} \hline & \multicolumn{3}{|c|}{ 301: S. Rey, Capital } \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & 73,000 \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|r|r|r|r|} \hline \multicolumn{4}{|c|}{ 403: Computer Services Revenue } \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & 25,059 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ 613: Depreciation Expense-Computer Equipment } \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ 637: Insurance Expense } \\ \hline Date & Debit & Credit & Batance \\ \hline Decembet 01 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ 302: S. Rey, Withdrawals } \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & 5,600 \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} 612: Depreciation Expense-Office Equipment Prov 2 of 3 \# Next \begin{tabular}{|c|c|c|c|} \hline \multicolumn{3}{|c|}{ 131: Prepaid Rent } \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & \\ \hline 164: Accumulated Depreciation-Office Equipment \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & \\ \hline & & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|c|}{ 168: Accumulated Depreciation-Computer Equipment } \\ \hline Date & Debit & \multicolumn{1}{|c|}{ Credit } & Balance \\ \hline December 01 & & & \\ \hline & & & \\ \hline & & & \\ \hline & 210: Wages Payable \\ Debit & Credit & Batance \\ \hline Decate & & & \\ \hline & & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{3}{|c|}{ 163: Office Equipment } \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{3}{|c|}{ 167: Computer Equipment } \\ \hline Date & Debit & Credit & Balance \\ \hline Decomber 01 & & & 20,000 \\ \hline & & & \\ \hline & & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ 201: Accounts Payable } \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & 0 \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{ 236: Unearned Computer Services Rovenue } \\ \hline Date & Debit & Credit & Balance \\ \hline December 01 & & & \multirow[t]{2}{*}{0} \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Journal entry worksheet 2 Three of the four months' prepaid rent have expired. Note: Enter debits before credits. Journal entry worksheet The computer system, acquired on October 1 , is expected to have a four-year life with no salvage value. Note: Enter debits before credits. Journal entry worksheet 1 6 As of December 31, Lyn Addie has not been paid for four days of work at $125 per day. Note: Enter debits before credits. Business Solutions had the following transactions and events in December 2021. Decenber 2 Paid $1,025 cash to Hillside Mall for Business Solutions's share of mall advertising costs. Deceeber 3 Paid $500 cash for minor repairs to the conpany's cooputer. Decenber 4 Received \$3,950 cash fron Alex's Engineering Company for the recelvable from Novenber. Decenber 10 Paid cash to Lyn Addie for $ ix days of work at the rate of $125 per day. Decesber 14 Notified by Alex's Engineering Coepany that Business Solutions's bid of $7, 000 on a proposed project has been accepted. Alex's paid a $1,590 - cash advance to Business Solutions. Decenber 15 Purchased $1,100 of computer supplies on credit fron Harris office Products. Decenber 16 Sent a reminder to Gomez Company to pary the fee for services recorded on November 8 . Decenber 20 Completed a project for Liu Corporation and recelved $5,625 cash. Decenber 22-26 Took the week off for the holidays. Decenber 28 Recelved \$3, 00e cash from Gomez Conpany on its receivable. Decenber 29 Reimbursed 5 . Rey for business autonobile mileage ( 600 miles at 50,32 per aile). Decesber 31 \$. Rey withdrew $1,590 cash from the conpany 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. o. The December 3 inventory count of computer supplies shows $580 still available. b. Three months have expired since the 12 -month insurance premium was paid in advance. c. As of December 31 , Lyn Addle has not been paid for four days of work at $125 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 month' prepaid rent have explred. Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. 2-o. 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 ledget. 3. Prepare an adjusted trial balance as of December 31,2021 Journal entry worksheet 56 The December 31 inventory count of computer supplies shows $580 still available. Note: Enter debits before crdits. \begin{tabular}{|l|l|} \hline \multicolumn{1}{|c|}{ Adjusted Trial Balance } \\ \hline Account Titie & \\ \hline Cash & \\ \hline Accounts recervable & \\ \hline Computer supplies & \\ \hline Prepaid insurance & \\ \hline Prepaid rent & \\ \hline Office equipment & \\ \hline Accumulated depreciation-Office equipment & \\ \hline Computer equipment & \\ \hline Accumulated depreciation-Computer equipment & \\ \hline Accounts payable & \\ \hline Wages payable & \\ \hline Unearned computer services revenue & \\ \hline S. Rey, Capital & \\ \hline S. Rey, Withdrawals & \\ \hline Computer services revenue & \\ \hline Depreciation expense-Office equipment & \\ \hline Depreciation expense-Computer equipment & \\ \hline Wages expense & \\ \hline \end{tabular} Step by Step Solution
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