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e 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

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e 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 Title Debit Credit 101 Cash $ 39,264 106 Accounts receivable 13,318 126 Computer supplies 2,545 128 Prepaid insurance 2,100 131 Prepaid rent 3,140 163 Office equipment 8.300 164 Accumulated depreciation office equipment $ e 167 Computer equipment 21,200 168 Accumulated depreciation Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 307 Common stock 63,000 318 Retained earnings 319 Dividends 6,500 483 Computer services revenue 38,774 612 Depreciation expense-Office equipment 613 Depreciation expense-Computer equipment 623 Wages expense 2,25e 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense 1,638 676 Mileage expense 644 677 Miscellaneous expenses 150 684 Repairs expense-Computer 725 Totals $101,774 $191,774 wa B Business Solutions had the following transactions and events in December 2019, Business Solutions had the following transactions and events in December 2019 Dec. 2 Paid $935 cash to Hillside Mall for Business Solutions' share of all advertising costs 3 Paid $410 cash for winor repairs to the company's computer. 4 Received $3,950 cash from Alex's Engineering Co. for the receivable from November 10 Paid cash to Lyn Addie for six days of work at the rate of $105 per day. 14 Notified by Alex's Engineering Co that Business Solutions bid of 57,600 on a proposed project has been accepted. Alex's paid a $1,500 cash advance to Business Solutions. 15 Purchased $1,400 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 8. 20 Completed a project for Liu Corporation and received $5,875 cash. 22- Took the week off for the holidays 26 28 Received $3,000 cash from Gonez Co. on its receivable. 29 Reimbursed $. tey for business automobile mileage (500 miles at $0.28 per alle). 31 The company paid $1,300 cash in dividends. 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 available, b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Lyn Addie has not been paid for four days of work at $105 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 months prepaid cont have expired. Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions 2-a. Prepare adjusting entries to reflect a through 7. Dret the innal ont in varnourhof the Naramborranesinne foam Danamonti and in antrenman romant Prox 1 of 1 !!! Next The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months . The December 31 inventory count of computer supplies shows $620 still available b. Three months have expired since the 12 month insurance premium was paid in advance c. As of December 31, Lyn Addie has not been paid for four days of work at $105 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 valije. f. Three of the four monthis prepaid rent have expired. Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. 2-a. Prepare adjusting entries to reflect a through 2-b. Post the joumal entries to record ach of the December transactions from Requirement and adjusting entries from Requirement 2A After completing Requirement 7 post the closing entries to the general ledger accounts 3. Prepare an adjusted trial balance as of December 31, 2019 4. Prepare an income statement for the three months ended December 31, 2019 5. Prepare a statement of retained earnings for the three months ended December 31, 2019 6. Prepare a balance sheet as of December 31, 2019 7. Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 28 8. Prepare a post-closing trial balance as of December 31, 2019 Complete this question by entering your answers in the tabs below. Requirement 28 8. Prepare a post-closing trial balance as of December 31, 2019 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 20 Reg 3 Reg4 Rugs Rega Reg Reg Post the journal entries to record each of the December transactions from Requirement 1 and adjusting entries from Requirement 2A. After completing Requirement 7. post the closing entries to the general ledger accounts 101: Cash Debit 105: Accounts Receivable Dobit Credit Credit Date Balance 13310 9360 5368 Dec 01 Dec 04 Dec 20 935 3.950 3.000 410 3.950 Date Dec 01 Dec 02 Dec 03 Doc on Doc 10 Dec 14 Dec 20 Dec 20 Dec 29 Dec 31 630 Balance 39.264 38 325 37919 41,869 41.239 42.739 48614 51.614 51474 50.174 1.500 5875 3.000 140 100 126: Computer Supplies Debit Credit 128. Prepaid insurance Debit Crede Balance Date Dec 01 Dec 15 Dec 31 Ad Balance 2545 3.945 Date Doc on Dec 31 A 2100 1400 126: Computer Supplies Debit Credit 128: Prepaid Insurance Debit Credit Date Dec 01 Dec 15 Dec 31 Ad Balance 2,545 3.945 Date Dec 01 Dec 31 Ad Balance 2100 1.400 131: Prepaid Rent Debit Credit Date Dec 01 Balance 3.140 163: Office Equipment Debit Credit Date Dec 01 Balance 8,300 Dec 31 Adi 164: Accumulated Depreciation Office Equipment Date Debit Credit Balance Dec 01 Dec 31 Adi 167: Computer Equipment Debit Credit Date Dec 01 Balance 21.200 0 168: Accumulated Depreciation-Computer Equipment Date Debit Credit Balance Dec 01 Dec 31 Adi 201: Accounts Payable Debit Credit 0 Date Dec 01 Dec 15 Balance 0 1.400 1.400 210: Wages Payable Debit Credit Balance Dato Dec 01 Dec 31 Adj 236: Unearned Computer Services Revenue Date Debit Credit Balance Dec 01 0 Dec 14 1.500 1.500 0 210: Wages Payable Debit Credit Balance Date Dec 01 Dec 31 Adi 236: Unearned Computer Services Revenue Date Debit Credit Balance Dec 01 0 Dec 14 1.500 1500 0 Date 307: Common Stock Debit Credit 318: Retained Earnings Debit Credit Balance 63 000 Balance Dec 01 Date Dec 01 Dec 31 Close Dec 31 Close 0 319: Dividends Debit Credit 403: Computer Services Revenue Debit Credit Date Dec 01 Dec 31 Dec 31 Close Balance 6,500 7.800 6,500 Date Dec 01 Dec 20 Dec 31 Close 1,300 Balance 38,774 44.649 38,774 5.875 1.300 5-875 612: Depreciation Expense-Office Equipment Date Debit Credit Balance Dec 01 Dec 31 Adi Dec 31 Close 0 613: Depreciation Expense-Computer Equipment Date Debit Credit Balance Dec 01 Dec 31 Adi Dec 31 Close 0 623: Wages Expense Debit Credit 637: Insurance Expense Debit Credit Date Dec 01 Date Balance Balance 2.250 Dec 01 623: Wages Expense Debit Credit 637: Insurance Expense Debit Credit Balance 2.250 Date Dec 01 Dec 31 Ad Dec 31 Close Balance Date Dec 01 640: Rent Expense Debit Credit Balance 652: Computer Supplies Expense Debit Credit Balance Date Dec 01 Dec 31 Ad Dec 31 Close 0 Date Dec 01 Dec 31 Adi Dec 31 Close 0 655: Advertising Expense Debit Credit 676: Mileage Expense Debit Credit Balance 1638 Date Dec 01 Dec 02 Dec 31 Close Balance 544 Date Dec 01 Dec 29 Dec 31 Close 677: Miscellaneous Expense Debit Credit 684: Repairs Expense Computer Debit Credit Date Dec 01 Dec 31 Close Balance 150 Balance 725 Date Dec 01 Dec 03 Dec 31 Close 901: Income Summary Debit Credit Date Balance Dec 31 Adi Dec 31 Close Dec 31 Adi Dec 31 Close 655: Advertising Expense Debit Credit 676: Mileage Expense Debit Credit Date Dec 01 Dec 02 Dec 31 Close Balance 1638 Date Dec 01 Dec 29 Dec 31 Close Balance 644 677: Miscellaneous Expense Debit Credit 684: Repairs Expense-Computer Debit Credit Date Dec 01 Dec 31 Close Balance 150 Balance 725 Date Dec 01 Dec 03 Dec 31 Close 901: Income Summary Debit Credit Balance Balance Date Dec 31 Close Dec 31 Close Dec 31 Close Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Reg 3 Reg 4 Reg 5 Reg 6 Req7 Req8 Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in R View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Dec 31 Computer services revenue Income summary 2 Dec. 31 Income summary Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense_Computer 2 3 Dec. 31 Income Summary Retained earnings 4 Dec. 31 Retained earnings Dividends

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