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E ve Account D 11 Number Account Account Name 12 101 Number Cash Account Name 13 106 302 Accounts Receivable Aster Turane Withdrawals 14 126

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E ve Account D 11 Number Account Account Name 12 101 Number Cash Account Name 13 106 302 Accounts Receivable Aster Turane Withdrawals 14 126 403 Computer Supplies Computer Services Revenue 15 623 128 Wages Expense Prepaid Insurance 625 Rent Expense 16 131 Prepaid Rent 626 17 Insurance Expense 163 Office Equipment 655 18 Advertising Expense 167 Computer Equipment 676 Mileage Expense 19 170 Accumulated Depreciation 684 Repairs Expense, Computer 20 201 Accounts Payable 698 Depreciation Expense 21 301 Aster Turane, Capital 699 Charitable Donations Expense 22 23 Required Please anwser all MCQ based on the following business transactions. 24 Please do all adjustment entries before you anwer your MCQ questions 25 The expected useful life of computer system and office equipment are 5 years. 26 There is no residual value for all equipments 27 Please use the straight-line method for the depreciation 28 Oct 1 Aster Turane invested $46,000 cash, a $18,000 computer system, and 29 $12,000 of office equipment in the business 30 2 Paid six months of rent in advance, $12,000 31 3 Purchased computer supplies on credit for $1,975 from Triple-One Supplies 32 5 Paid $8,640 cash for one year's premium on a property and liability insurance 33 policy 34 6 Billed Norton Electric $6,300 for installing a new computer system 35 8 Paid for the computer supplies purchased from Triple-One Supplies 36 10 Hired Donald Gee as a part-time assistant for $345 per day, as needed 37 12 Billed Norton Electric another $1,850 for computer services rendered 38 15 Received $1,650 from Norton Electric on its account. 39 17 Paid $375 to repair equipment damaged when moving into the 40 new office 41 20 Paid $1,950 for an advertisement in the local newspaper 42 22 Received the balance owing from Norton Electric on its account 43 28 Billed Whistler Resort $9.400 for services 44 31 Paid Donald Gee for nine days' work 45 31 Aster Turane withdrew $1,200 cash from the business for personal use

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