Journal entry worksheet 12 The office equipment, acquired on October 1 , is expected to have a five-year life with no salvage value. Note: Enter debits before credits. December 2 Paid $955 cash to Hillside Mall for Business Solutions's share of mall advertising costs. December 3 Paid $410 cash for minor repairs to the company's computer. December 4 Received $4,150 cash from Alexs Engineering Company for the receivable from November. December 10 Paid cash to Lyn Addie for six days of work at the rate of $115 per day. December 14 Notified by Alex's Engineering Company that Business Solutions's bid of $7,600 on a proposed project has been accepted. Alex's paid a $2,469 cash advance to Business Solutions. December 15 Purchased $1,990 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 \$6,475 cash. December 22-26 Took the week off for the holidays. December 28 Received $3,700 cash from Gomez Company on its receivable. December 29 Reimbursed S. Rey for business automobile mileage (40e miles at $0.29 per mile). December 31 Paid $1,200 cash for dividends. The following additional facts are collected for use in making adjusting entrles prior to preparing financlal statements for the company's first three months. a. The December 31 Inventory count of computer supplies shows $670 still avallable. b. Three months have explred since the 12 -month Insurance premlum was pald In advance. c. As of December 31, Lyn Addle has not been pald 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 IIfe with no salvage value. f. Three of the four months' prepald rent have explred. Requlred: 1. Prepare journal entrles to record each of the December transactions. Post those entrles to the accounts In the ledger. 2-a. Prepare adjusting entrles to reflect a through f. 2-b. Post the Journal entrles to record each of the December transactions, adjusting entrles 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 retalned earnings for the three months ended December 31, 2021. 6. Prepare a classlfied balance sheet as of December 31, 2021. 7. Record the necessary closing entrles as of December 31, 2021. 8. Prepare a post-closing trlal balance as of December 31, 2021. Journal entry worksheet 56 Three months have expired since the 12 -month insurance premium was paid in advance. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of the December transactions. Post those entries to the accounts in the ledger. Note: If no entry is required for a transaction or event, select "No journal entry required" in the first account field. Journal entry worksheet 234567811 Paid $955 cash to Hillside Mall for Business Solutions's share of mall advertising costs. Note: Enter debits before credits. Journal entry worksheet 1 The computer system, acquired on October 1 , is expected to have a four-year life with no salvage value. Note: Enter debits before credits. After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2021, unadjusted trial balance of Business Solutions (reflecting Its transactions for October and November of 2021) follows. Business Solutions had the following transactions and events in December 2021. Journal entry worksheet 1 Three of the four months' prepaid rent have expired. Note: Enter debits before credits. Journal entry worksheet 6 As of December 31, Lyn Addie has not been paid for four days of work at $115 per day. Note: Enter debits before credits. Journal entry worksheet 6 The December 31 inventory count of computer supplies shows $670 still available. Note: Enter debits before credits