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i need all the answer as soon possible please. thank you Business Solutions had the following transactions and events in December 2021. December 2 Paid
i need all the answer as soon possible please.
Business Solutions had the following transactions and events in December 2021. December 2 Paid $975 cash to Hillside Mall for Business Solutions's share of mall advertising costs. December 3 Paid $490 cash for minor repairs to the company's computer. December 4 Received $4,550 cash from Alex's Engineering Company for the receivable from November December 10 Paid canh to Lyn Addie for six days of work at the rate of $120 per day. December 14 Notified by Alex's Engineering Company that Business Solutions's bid of $7,100 on a proposed project has been accepted. Alex's paid a $2,200 cash advance to Business Solutions. December 15 Purchased $1,200 of computer supplies on credit from Harris Office Products. December 16 Sent a reminder to Gomez Company to pay the fee for services recorded on November 8. December 20 Completed a project for Liu Corporation and received $5,825 cash. December 22-26 Took the week off for the holidays. December 28 Received, $3,200 cash from Gomez Company on its receivable. December 29 Reimburebd S. Rey for business automobile mileage (600 miles at $0.26 per mile). December 31 Paid $1,300 cash for dividends. a. The December 31 inventory count of computer supplies shows $640 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 $120 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 rent have expired. Required: 1. Prepare journal entries to record each of the December transactions. Post those entries to the accounts in the ledger 2-a. Prepare adjusting entries to reflect a through 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger 3. Prepare an adjusted trial balance as of December 31, 2021 4. Prepare an income statement for the three months ended December 31, 2021. 5. Prepare a statement of retained earnings for the three months ended December 31, 2021 6. Prepare a classified balance sheet as of December 31, 2021 7. Record the necessary closing entries as of December 31, 2021 B. Prepare a post.closing trial balance as of December 31, 2021 thank you
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