comprehensibe accounting problem. please annswer parts 2b and 7 in the same format as the last 3 pictures. thank you!

problem 5-3A perpetual: alternative cost flows LO P1

108 3220 Accounting 2140 - Comprehensive Problem On October 1, 2019, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of finandal statements on December 31, 2019. 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 its transactions for October and November of 2019) follows. No. Account Debt 101 Credit Cash $ 38,764 Accounts receivable 12,618 126 Computer supplies 2,545 128 Prepaid insurance 1,980 131 Prepaid rent 163 Omice equipment 8,700 164 Accumulated depreciation Office equipment 0 167 Computer equipment 20.800 168 Accumulated depreciation Computer equipment 0 201 Accounts payable 0 210 Wages payable 0 236 Unearned computer services revenue 307 Common stock 71,000 318 Retained earnings 0 319 Dividends 6,500 403 Computer services revenue 29.774 612 Depreciation expense-Office equipment 0 613 Depreciation expense--Computer equipment 623 Wages expense 2.300 637 Insurance expense 0 640 Rent expense 0 652 Computer supplies expense 0 655 Advertising expense 1.688 676 Mieage expense 674 677 Miscellaneous expenses 210 684 Repars expense-Computer 775 Total $100.774 $100.774 Business Solutions had the following transactions and events in December 2019 Dec 2 Paid $945 cash to Hillside Mall for Business Solutions share of mail advertising costs 3 Paid 54 10 cash for minor repairs to the company's computer Received 54.550 cash from Alex's Engineering Co. for the receivable from November 10 Paid cash to Lyn Ad die for six days of work at the rate of $105 per day 14 Notified by Alex's Engineering Co that Busness Solutions bid of 57.500 on a proposed project has been accepted. Alex's pada 51.700 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 20 Completed a project for Corporation and received $5.725 cash Took the work off for the holidays Received $3.900 cash from Gomez Co on its receivable 20 Rembursed S Rey for business automobile mileage 600 m 50.30 per miel The company paid $1.200 cash individends 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 $620 still avalable b. Three months have expired since the 12-month insurance premium was paid in advance As of December 31, Lyn Addie las not been paid for four days of work at S105 per day d. The computer system, acquired on October 1, expected to have a four-year life with no salvage value The office equipment, aqured on October 1s expected to have a five-year ife with no Three of the four months prepaid rent have expued. Required: 1. Prepare journal entries to record of the December transactions and events for Business Solutions 2-a Prepare adjusting entriestore through 2-b. Post the journal entries to record each of the Deansactions adjusting entries to the accounts in the door 3. Prepare an adused to balance of December 31, 2018 4. Prepare an income statement for the months undecenbe 31. 2019 5. Prepare a statement of reindeaming or the months anded December 31, 2019 6. Prepare a bance sheets of December 31, 2018 7. Record and post the necessary dong otros as of December 31, 2019 8. Prepare a post-dosing trance as of December 31, 2015 Requirement 2-b and 7 - Post Transactions to General Ledger 101: Cash Dobit Credit Balance Date 106: Accounts Receivable Date Debit Credit Balance 126: Computer Supplies Date Debit Credit Balance 128: Prepaid Insurance Date Debit Credit Balance 131: Prepaid Rent Debit Credit Balance 163: Office Equipment Date Debit Credit Balance Date 164: Accumulated Depreciation Office Equipment Date Debit Credit Balance 167: Computer Equipment Date Debit Credit Balance 160: Accumulated Depreciation- Computer Equipment Date Debt Credit Balance 201: Accounts Payable Date Debit Credit Dance 612: Depreciation Expense Office Equipment Date Dabit Credit Balance 613: Depreciation Expense - Computer Equipment Date Debit Credit Banca 210: Wages Payable Date Debit Credit Balance 236: Unearned Computer Services Revenue Date Debit Credit Balance 623 Wages Expense Date Debit Creda Balance 37 Insurance Expense Date Debit Credit Dance 307. Common Stock Debi Date 318 Retained Earnings Date Debit Credit Blanco 640 Rant Expense Debi Credit Balance 652: Computer Supplies Expense Date DiCredit Banca 313: Dividende De Credit Balance 401 Computer Services New Date Debit Credines Advertising Expens Date 68 Mile Espana Debit Credene 677: Miscellaneous Expense Date Debit Credit Balance 684: Repairs Expense. Computer Date Debit Credit Balance 901: Income Summary Date Debit Credit Balance I Problem 5-3A Perpetual: Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 540 units $40 per unit Feb. 10 Purchase 320 units $36 per unit Mar. 13 Purchase 100 units $24 per unit Mar. 15 Sales 650 units $85 per unit Aug. 21 Purchase 120 units @ $45 per unit Sept. 5 Purchase 520 units @ $41 per unit Sept. 10 Sales 640 units $85 per unit Totals 1,600 units 1,290 units Required: 1. Compute cost of goods available for sale and the number of units available for sale Cost of goods available for sale Number of units available for sale units 2. Compute the number of units in ending inventory Ending inventory units 3. Compute the cost assigned to ending inventory using (a) FIFO (O) LIFO, (weighted average, and (c) specific identification. For specific identification, units sold consist of 540 units from beginning inventory, 220 from the February 10 purchase, 100 from the March 13 purchase, 70 from the August 21 purchase, and 360 from the September 5 purchase. Complete this question by entering your answers in the tabs below. Perpetual Fifo Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased of Cost per units unit Date Cost of Goods Sold # of units Cost per cost of Goods Sold sold unit Inventory Balance # of units Cost per Inventory unit Balance 540 $40.00 - $ 21,600.00 Jan 1 Feb 10 Mar 13 Mar 15 Aug 21 6 Saved Complete this question by entering your answers in the tabs below. Perpetual Fifo Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. (Round your average cost per unit to 2 decimal places. Perpetual LIFO Goods Purchased #of Cost per units unit Cost of Goods Sold # of units Cost per cost of Goods Sold sold unit Date of units Inventory Balance Cost per Inventory unit Balance $ 40,00 - $ 21,600.00 Jan 1 540 Feb 10 Mar 13 Mar 15 Aug 21