Help Account No. Account No. Cash 101 S. Rey, Capital 106 S. Rey, Withdrawals 126 Computer Services Revenue 128 Wages Expense 131 Advertising Expense 163 Mileage Expense 167 Miscellaneous Expenses 201 Repairs Expense-Computer 301 Accounts Receivable mputer Supplies Prepaid Insurance Prepaid Rent office Equipment Computer Equipment Accounts Payable 302 403 623 655 676 677 684 1 S. Rey invested $50,000 cash, a $22,000 computer system, and $9,000 of office equipment in the company. 2 The company paid $3,280 cash for four months rent. (Hint: Debit Prepaid Rent for $3,280.) 3 The company purchased $1,350 of computer supplies on eredit from Harris office Products. 5 The company paid $1,920 cash for one year's premium on a property and liability insurance policy. (Hinti Debit Prepaid Insurance for $1,920.) 6 The company billed Easy Leasing $5,500 for services perforned in installing a new Web server. 8 The company paid $1,350 cash for the computer supplies purchased from Harris Office Products on October 3. 10 The company hired Lyn Addie as a part-time assistant for $125 per day, as needed. 12 The company billed Easy Leasing another $2,100 for services performed. 15 The company received $5,500 cash from Easy Leasing as partial paynent on its account. 17 The company paid $770 cash to repair computer equipment that was damaged when moving it. 20 The company paid $1,688 cash for advertisenents published in the local newspaper. 22 The company received $2,100 cash from Easy Leasing on its account. 28 The company billed IFM Company $5,508 for services performed. 31 The company paid $875 cash for Lyn Addie's wages for seven days vork. 31 S. Rey withdrew $2,900 cash from the company for personal use. 1 The company reinbursed S. Rey in cash for business automobile mileage allowance (Rey logged 1,000 miles at $0.24 per nile). 2 The company received $4,833 cash from Liu Corporation for computer services performed. 5 The company purchased computer supplies for $1,035 cash from Harris office Products. 8 The company billed Gomez Co. $6,568 for services performed. 13 The company received notification from Alex's Engineering Co. upcoming project vas accepted. 18 The conpany received $1,608 cash from IFM Company as partial paynent of the October 28 bi11. 22 Oct. Nov. that Business Solutions's bid of $4,150 for an he company donated $180 cash to the United Way in the company's name. 24 The company completed work for Alex's Engineering Co. and sent Alex's a bill for $4, 150. 25 The company sent another bill to IFM Company for the past-due amount of $3,900. 28 The company reinbursed S. Rey in cash for business automobile mileage (1,200 miles at so.24 per mile). 30 The company paid $1,750 cash for Lyn Addie's wages for 14 days' work. 30 S. Rey withdrow $1,500 cash from the company for personal use. 1. Prepare journal entries to record each of the above transactions for Business Solutions. 2. Prepare ledger accounts (in balance column format) and post the journal entries from requ 3. Prepare a trial balance as of the end of November. nt 1 to them. Complete this question by entering your answers in the tabs below. ook Required 1 Required 2 Required 3 Prepare a trial balance as of the end of November BUSINESS SOLUTIONS Trial Balance November 30 Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Computer equipment Accounts payable S. Rey, Capital S. Rey, Withdrawals Computer services revenue Wages expense Advertising expense Mileage expense Miscellaneous expense BUSINESS SOLUTIONS Trial Balance November 30 Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Computer equipment Accounts payable S. Rey, Capital S. Rey, Withdrawals Computer services revenue Wages expense Advertising expense Mileage expense Miscellaneous expense Repairs expense-Computer Totals
