How much is the advertising expense is this month?

• 1950

  1950

• 1900

  1900

• 1800

  1800

• 1850

What is the balance of the prepaid insurance account at the month end?

• 7600

  7600

• 8640

  8640

• 7640

  7640

• 7920

What is the balance of total current assets at the month end?

• 60200

  60200

• 58200

  58200

• 48900

  48900

• 53200

• How much is the wage expense is this month?

• 65960

  65960

• 5040

  5040

• 13550

  13550

• 3105

• How much is the net income is this month?

• 8400

  8400

• 8650

  8650

• 8900

  8900

• 8800

4:59 { Pot will 78% i file - Read-only KA Ky Read Only - You can't save changes to this fi... V CUMULATIVE PROBLEM - Aster Systems On October 1, 2017, Aster Turane organized a computer service company called Aster Systems. Aster is organized as a sole proprietorship and will provide consulting services, computer system installations, and custom program development. Aster Systems has adopted the calendar year for reporting, and expects to prepare the company's first set of financial statements as of Oct. 31, 2017. The initial chart of accounts for the accounting system includes these items: Account Number Account Name 101 Cash 106 Accounts Receivable 126 Computer Supplies 128 Prepaid Insurance 131 Prepaid Rent 163 Office Equipment 167 Computer Equipment 170 Accumulated Depreciation 201 Accounts Payable 1 301 Aster Turane, Capital Account Number Account Name 302 Aster Turane, Withdrawals 403 Computer Services Revenue 623 Wages Expense 625 Rent Expense 626 Insurance Expense 655 Advertising Expense 676 Mileage Expense 684 Repairs Expense, Computer 698 Depreciation Expense 699 Charitable Donations Expense Required Please anwser all MCQ based on the following business transactions. Please do all adjustment entries before you anwer your MCQ questions. The expected useful life of computer system and office equipment are 4 years. There is no residual value for all equipments Please use the straight-line method for the depreciation. Oct. 1 Aster Turane invested $52,000 cash, a $19,200 computer system, and $4,800 of office equipment in the business. 2 Paid six months of rent in advance; $12,000. 3 Purchased computer supplies on credit for $1,975 from Triple-One Supplies. 5 Paid $8,640 cash for one year's premium on a property and liability insurance policy. 6 Billed Norton Electric $6,300 for installing a new computer system. 8 Paid for the computer supplies purchased from Triple-One Supplies. 10 Hired Donald Gee as a part-time assistant for $345 per day, as needed. 12 Billed Norton Electric another $1,850 for computer services rendered. 15 Received $1,650 from Norton Electric on its account. 17 Paid $375 to repair equipment damaged when moving into the new office. 20 Paid $1,950 for an advertisement in the local newspaper. 22 Received the balance owing from Norton Electric on its account. 28 Billed Whistler Resort $9,400 for services. 31 Paid Donald Gee for nine days' work. 31 Aster Turane withdrew $1,200 cash from the business for personal use