CUMULATIVE PROBLEM - Aster Systems This comprehensive problom was introduced in Chapter 2 and continues in Chapters 4 and 5 . If the Chapter 2 segment has not been complelod, the assignment can begin at this point. CC Problem Ch. 3 - Aster-Checlc Figures - At A3-Adj. Trial Balance Dr. Balance =$85,462 - At a3-Cash ( arcount 101) =9,174 - At 43 - Computer Supplies (account 126)=480 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.) Before proceeding in December, Turane adds these new accounts to the chart of accounts for the ledger: Required 1. Prepare joumal 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 oompany'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. $5,950 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 $6,500 on a proposed project was accepted. Kinsetta paid an advance of $3,000. 17 Purchased $740 of computer supplies on credit from Tripla-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 kilometres 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 31,2017 . 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, 2017. 4. Prepare an income statement and statement of changes in equity for the three months ended December 31, 2017. 5. Prepare a balance sheet as of December 31,2017. Ar:roUINT NO. 106 namwutar Ginnlias : ACCOUNT NO. 126 Dranaid Ineiranca ACCOUNT NO. 128 Computer Eauibment ACCOUNT NO. 167 scumulated Depreciation. Combuter Eauioment ACCOUNT NO. 168 Unearned Computer Sanvirae Rauanui Aster Turane, Capital Rent Expense ACCOUNT NO. 640 Comnutar Sunnlies Exnense ACCOUNT NO. 652 Ariuntioinm Evmanen ACCOUNT NO. 655 ACCOUNT NO. 676 Renairs Exnense. Combuter ACCOUNT NO. 684 Charitahla Danations Exnanse ACCOUNT NO. 699 Page1? Chapter3Part3AsterSystems(Contd.)CumulativeProblem ASTER SYSTEMS Adjusted Trial Balance December 31, 2017 Advertisina Expense Repains Expense frovous transaction missing wages payable cash Computer supplies Expense no entry mileage Expense owhens capital uneacned Revenue Eamed Revenue Accounts Payable Total Chapter 3 Cumulative Problem Name Part 4 Aster Systems (Cont'd.) Chapter 3 Part 6 Cumulative Problem Name Astar Suatame frenmal'a