joirnal entries for these
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On October 1, 2019, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set financial statements on December 31, 2019. The company's initial chart of accounts follows Account Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accounts Payable No. Account 101 S. Rey, Capital 106 5. Rey, withdrawals 126 Computer Services Revenue 128 Wages Expense 131 Advertising Expense 163 Mileage Expense 167 Miscellaneous Expenses 201 Repairs Expense-Computer No. 301 302 403 623 655 676 677 684 Oct. 1S. Rey invested $45,000 cash, a $20,eee computer system, and $8,000 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 fron Harris Office Products. 5 The company paid $2,220 cash for one year's premiun on property and liability insurance policy. Wint: Debit Prepaid Insurance for $2,220 6 The company billed Easy Leasing $4,800 for services performed in installing a new web server. 8 The company paid $1,420 cash for the computer supplies purchased from Harris Office Products on October 3. 10 The company hired Lyn Addie as a part-time assistant 12 The company billed Easy Leasing another $1,400 for services performed. 15 The company received $4,800 cash from Easy Leasing as partial payment on its account 17 The company paid $805 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 S. Rey withdrew $3,600 cash from the company for personal use. Nov. 1 The company reimbursed 5. Rey in cash for business automobile silence allowance (Rey logged 1,000 miles at $0.32 per mile) 2. The company received $4,633 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. 55,668 for services performed 13 The company agreed to perforn future services for Alex's Engineering Co. No work has yet been performed 18 The company received $2,203 cash from IFM Company as partial payment of the October 28 bill 22 The company paid $250 cash for miscellaneous expenses. Wint: Debit Miscellaneous Expense for $250, 24 The company completed work and sent a bill for $3.950 to Alex's Engineering Co 25 The company sent another bill to IFM Company for the post-due amount of $3,000 28 The company reimbursed 5. Rey in cash for business automobile mileage (1,200 miles at $0.32 per mile) 30 The company paid $1,750 cash for Lyn Addie's wages for 14 days' work. 30 S. Hey withdrew $2,000 cash from the company for personal use. 101: Cash Debit Credit 106: Accounts Receivable Debit Credit Date Balance Date Balance 126: Computer Supplies Debit Credit Dato Balance 128: Prepaid Insurance Dabit Credit Date Balance 131: Prepaid Rent Debit Credit Date 163: Office Equipment Debit Credit Balance Date Balance 126: Computer Supplies Debit Credit 128: Prepaid Insurance Dobit Credit Date Balanco Date Balance 131: Prepaid Rent Debit Credit 163: Office Equipment Debit Credit Date Balance Date Balance 167: Computer Equipment Debit Credit 201: Accounts Payable Debit Credit Date Balance Date Balance 301: S. Roy. Capital Debit Credit 302: S. Rey, Withdrawals Dobit Credit Dato Balance Dato Balance 403: Computer Services Revenue Dobit Credit 623: Wagou Expono Dobit Credit Balance Dato Balance 301: 5. Roy, Capital Debit Credit 302: S. Roy, Withdrawals Debit Credit Date Balance Dato Balanco 403: Computer Services Revenue Debit Credit 623: Wages Exponse Debit Credit Date Balance Date Balance 655: Advertising Expense Debit Credit 676. Mileage Expense Debit Credit Date Balance Date Balance 677: Miscellaneous Expenses Dobit Credit 684: Repairs Expense. Computer Dobit Credit Balance Dato Balance Date ok BUSINESS SOLUTIONS Trial Balance November 30 t nces 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 Repairs expense-Computer Totals 0 $
