Copy of V1_A... CUMULATIVE PROBLEM - Aster Systems This comprehensive problem was wroduced in Chapter 2 and continues in Chapters and me Chapter 2 segment has not been completed, the assignment can begin of this point After the success of its first two monte Aster Turanhas decided to continue operating Aster Systems (The transactions that occurred in these months are described in Chapter 2) Before proceeding in December. Turane adds these new accounts to the chart of accounts for the ledger Account Accumulated Depreciation, Ofice Equipment Accumulated Depreciation, Computer Equipment Wages Payable Uneamed Computer Services Revenue Depreciation Expense, Office Equipment Depreciation Expense, Computer Equipment Insurance Expense Rent Expense Computer Supplies Expense No. 164 168 210 236 612 813 637 610 662 Required 1. Prepare journal entries to record each of the following transactions for Aster Systems Post the entries to the accounts in the ledger Dec. 3 Paid $3,800 to the Kingsway Garden Mal for the company's share of all advertising costs for December 3 Paid $1,040 to repar the company's computer 4 Received the balance owing from Kinsetta Groceries 10 Paid Donald Gee for eight days' work at the rate of $345 per day. 14 Notified by Kinsetta Groceries that Aster's bid of $8.500 on a proposed project was accepted. Kinsetta paid an advance of $3,000 17 Purchased $740 of computer supplies on credit from Triple-One Supplies 18 Sent a reminder to Dinwoody Entertainment to pay 54.230 originally recorded on November 20 Completed a project for Langara Lodge and received $1,100 cash 24-28 Took the week off for the holidays. 31 Received $1.800 as partial payment from Dinwoody Entertainment 31 Reimbursed Aster Turane's business automoble expenses of 1,800 kilometres at $1.00 per kilometre. 31 Aster Turane withdrew $800 cash from the business 2. Prepare adjusting entries to record the following additional information collected on December 31, 2020. Pout the entries to the accounts in the ledger Dec. 31 a The December 31 inventory of computer supplies was $480. b. Three months have passed since the annual insurance premium was paid. Geel paid for four days of work at the rate of $345 per day d. The computer equipment is expected to have a five-year ife with no residual value e. The office equipment is expected to have a ten-year ife with no residual value Prepaid rent for three of the six months has expired. 3. Prepare an adjusted trial balance as of December 31, 2020 4. Prepare an income statement and statement of changes in equity for the three months anded December 31, 2020 5. Prepare a balance sheet as of December 31, 2020 Copy of V1_A... CUMULATIVE PROBLEM - Aster Systems This comprehensive problem was wroduced in Chapter 2 and continues in Chapters and me Chapter 2 segment has not been completed, the assignment can begin of this point After the success of its first two monte Aster Turanhas decided to continue operating Aster Systems (The transactions that occurred in these months are described in Chapter 2) Before proceeding in December. Turane adds these new accounts to the chart of accounts for the ledger Account Accumulated Depreciation, Ofice Equipment Accumulated Depreciation, Computer Equipment Wages Payable Uneamed Computer Services Revenue Depreciation Expense, Office Equipment Depreciation Expense, Computer Equipment Insurance Expense Rent Expense Computer Supplies Expense No. 164 168 210 236 612 813 637 610 662 Required 1. Prepare journal entries to record each of the following transactions for Aster Systems Post the entries to the accounts in the ledger Dec. 3 Paid $3,800 to the Kingsway Garden Mal for the company's share of all advertising costs for December 3 Paid $1,040 to repar the company's computer 4 Received the balance owing from Kinsetta Groceries 10 Paid Donald Gee for eight days' work at the rate of $345 per day. 14 Notified by Kinsetta Groceries that Aster's bid of $8.500 on a proposed project was accepted. Kinsetta paid an advance of $3,000 17 Purchased $740 of computer supplies on credit from Triple-One Supplies 18 Sent a reminder to Dinwoody Entertainment to pay 54.230 originally recorded on November 20 Completed a project for Langara Lodge and received $1,100 cash 24-28 Took the week off for the holidays. 31 Received $1.800 as partial payment from Dinwoody Entertainment 31 Reimbursed Aster Turane's business automoble expenses of 1,800 kilometres at $1.00 per kilometre. 31 Aster Turane withdrew $800 cash from the business 2. Prepare adjusting entries to record the following additional information collected on December 31, 2020. Pout the entries to the accounts in the ledger Dec. 31 a The December 31 inventory of computer supplies was $480. b. Three months have passed since the annual insurance premium was paid. Geel paid for four days of work at the rate of $345 per day d. The computer equipment is expected to have a five-year ife with no residual value e. The office equipment is expected to have a ten-year ife with no residual value Prepaid rent for three of the six months has expired. 3. Prepare an adjusted trial balance as of December 31, 2020 4. Prepare an income statement and statement of changes in equity for the three months anded December 31, 2020 5. Prepare a balance sheet as of December 31, 2020