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Question: After the success of the companys first two months, Santana Rey continues to operate Business ...

After the success of the companys first two months, Santana Rey continues to operate Business Solutions. The November 30, 2017, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2017) follows:

101	Cash	38464
106	Accounts receivable	13018
126	Computer supplies	2645
128	Prepaid Insurance	1920
131	Prepaid rent	3200
163	Office equipment	8700
164	Accumulated depreciation Office equipment		0
167	Computer equipment	20400
168	Accumulated depreciation Computer equipment		0
201	Accounts payable		0
210	Wages payable		0
236	Unearned computer services revenue		0
307	Common stock		66000
318	Retained earning		0
319	Dividends	6100
403	Computer services revenue		34289
612	Depreciation Office equipment	0
613	Depreciation Computer equipment	0
623	Wages expense	2525
637	Insurance expense	0
640	Rents expense	0
652	Computer supplies expense	0
655	Advertising expense	1688
676	Mileage expense	674
677	Misc expense	250
684	Repairs expense Computer	705
		100289	100289

Business Solutions had the following transactions and events in December 2017.

Dec. 2. Paid $990 cash to Hillside Mall for Business Solutions share of mall advertising cost.

Dec 3. Paid $400 cash for minor repairs to the companys computer.

Dec 4 Received $4550 cash from Alexs Engineering Co. for the receivable from November.

Dec 10. Paid cash to Lyn Addie for six days of work at the rate of $115 per day.

Dec 14. Notified by Alexs Engineering Co. that business Solutions bid of $8000 n a propsed project has been accepted. Alexs paid a $2100 cash advance to Business Solutions.

Dec 15. Purchased $2000 of computer supplies on credit from Harris Office Products.

Dec 16. Sent a reminder to Gomez Co. to pay the fee for services recorded on Novemebr 8.

Dec 20. Completed a project for Liu Corporation and received $6625.

Dec 22. Took the week off for the holidays.

Dec 26.

Dec 28. Received $3800 cash from Gomez Co on its receivables.

Dec 29. Reimbursed S Rey for business automobile mileage (600 miles at $0.23 per mile)

Dec 31. The company paid $1300 cash in dividends.

The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the companys first three months:

a. The December 31 inventory count of computer supplies shows $630 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 $115 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 has expired.

Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. 2-a. Prepare adjusting entries to reflect a through f. 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, 2017. 4. Prepare an income statement for the three months ended December 31, 2017. 5. Prepare a statement of owners equity for the three months ended December 31, 2017. 6. Prepare a balance sheet as of December 31, 2017.

I need help with this section. Thank you!

Accounts Receivable Cash Date Debit Credit Balance Date Debit Credit Balance 13,018 8,468 4,668 Dec. 01 ec. 02 ec. 03 ec. 04 ec. 10 ec. 14 ec. 20 ec. 28 ec. 29 ec. 31 38,464 Dec. 01 37,474 37,074 41,624 40,934 43,034 49,659 53,459 53,321 52,021 4,550 3,800 990 ec. 04 400 ec. 28 4,550 690 2,100 6,625 3,800 138 1,300 Prepaid Insurance Computer Supplies Debit Date Debit Credit Balance Credit Balance Date 2,645 Dec. 01 ec. 31 1,920 1,440 Dec. 01 ec. 15 ec. 31 480 4,645 630 2,000 4,015