g. General Ledger h. General Journal i. Adjusting Entries j. Post-closing trial balance k. The Case/Problem The Problem: On October 1, 2015, Hisham Ahmed launched a computer services company called Techno- Solutions, which provides consulting services, computer system installations, and custom program development. Hisham adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2015. The company's chart of accounts follows. I Required Part 1a. Prepare journal entries to record each of the following transactions for Business Solutions. Oct.1 Hisham invested $40,000 cash, a $50,000 computer system, and S10.000 of office equipment in the company. 2 The company paid $3,300 cash for four months' rent. (Hint: Debit Prepaid Rent for $3,300.) 3 The company purchased $1.420 of computer supplies on credit from Harris Office Products. 5 The company paid $2,220 cash for one year's premium on a property and liability insurance policy. (Hint: Debit Prepaid Insurance for $2.220.) The company billed Easy Leasing $4,000 for services performed in installing a new Web server. 6 The company paid $1,420 cash for the compliter supplies purchased from Harris Office Products on October 3. 10 The company hired Lyn Addie Ms part-time assistant for $125 per day, as needed 12 The company billed Eary Leasing another $1,400 for services performed 15 The company received $1,000 cash from Easy Lexing As partial payment on its count. 17 The company paid $80S cash to repair computer equipment that was damaged when moving it 20 The company paid $1,728 cash for advertisements published in the local newspaper, 22 The company received $1,400 cash from Easy Leasing on its account 28 The company billed IFM Company $5,208 for services performed. 31 The company paid $875 cash for Lyn Addie's wages for seven days' work. 31 Hisham withdrew $3,600 cash from the company for personal use. Nov.1 The company reimbursed Hisham in cash for business automobile mileage allowance (Hisham logged 1,000 miles at $0.32 per mile), The company received $4,500 cash from Liu Corporation for computer services performed. 5 The company purchased computer supplies for $1,125 cash from Harris Office Products, 8 The company billed Gomez Co. $5,668 for services performed 18 The company received $2,208 cash from IFM Company as partial payment of the October 28 bill The company donated $250 cash to the United Way in the company's name, 24 The company completed work for Alex's Engineering Co. and sentit a bill for $3,950. 28 The company reimbursed Hisham in cash for business automobile mileage (1.200 miles al $0.32 30 The company paid $1.750 cash for Lyn Addie's wages for 14 days work. 30 Hisham withdrew $2,000 cash from the company for personal use. Dec. 2 Paid $1,025 cash to Hillside Mall for Business Solutions share of mill advertising 3 Pald S500 cash for minor 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 S125 per day. 14 Notified by Alex's Engineering Co that Business Solutions bid of $7.000 on a proposed project has been accepted. Alex's paid a $1.500 cash advance to Business Solutions 15. Purchased S1,100 of computer supplies on credit from Harris Office Products per mile). costs. 6cd3c-mp4 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 $5,625 cash. 28 Received $3,000 cash from Gomez Co, on its receivable. 29 Reimbursed Hisham for business automobile mileage (600 miles at $0.32 per mile). 31 Hisham withdrew $1,500 cash from the company for personal use. rt 1.b. Adjustments