CUMULATIVE PROBLEM - Aster Systems This comprehensive problem was introduced in Chapter 2 and continues in Chapters 4 and 5. If the Chapter 2 segment has not been completed, the assignment can begin at this point After the success of its first two months, Aster Turane has decided to continue operating Aster Systems. (The transactions that occurred in these months are described in Chapter 2.3 Before proceeding in December, Turane adds these new accounts to the chart of accounts for the ledger Account No. Accumulated Depreciation, Office Equipment 164 Accumulated Depreciation, Computer Equipment 168 Wages Payable 210 Unearned Computer Services Revenue 236 Depreciation Expense, Office Equipment 612 613 637 Rent Expense 640 652 Depreciation Expense. Computer Equipment Insurance Expense Computer Supplies Expense 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 Mall for the company's share of mall advertising costs for December 3 Paid $1,040 to repair 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 Kinsella Groceries that Aster's bid of $6.500 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 the $4,230 originally recorded on November 8, 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 automobile expenses of 1,800 metres at $1.60 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. Post 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 c. As of the end of the year. Donald Gee has not been paid for four days of work at the rate of $345 per day. d. The computer equipment is expected to have a five-year life with no residual value e. The office equipment is expected to have a ten-year life with no residual value f. 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 ended December 31, 2020 5. Prepare a balance sheet as of December 31, 2020