Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

LILIE Nagma ti meni Accounting 2140 - Comprehensive Problem On October 1, 2019. Santana Rey launched a computer services company called Business Due 25 SGUNS,

image text in transcribed
image text in transcribed
image text in transcribed
LILIE Nagma ti meni Accounting 2140 - Comprehensive Problem On October 1, 2019. Santana Rey launched a computer services company called Business Due 25 SGUNS, Wich 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 of financial statements on December 21, 2019. Ater the success of the company's first two moras, Santana Rey continues to operate Business Solutions The November 30, 2010, unadjusted trial balance SASS Saloos retecting its transactions for October and November of 2019 LOW Account Title Debit Credit i 101 Cash Accounts receivable 128 Computer wupplies 128 Prepaid insurance 131 Prepaid rent 163 Office equipment - 154 Accumulated depreciation Office equipment Computer equipment 20.400 168 Accumulated depreciation Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue Common stock Retained earnings Dividends 5,700 31,134 403 Computer services revenue 612 Depreciation expense Office equipment 613 Depreciation expense Computer equipment 2.400 Wages expense Insurance expense 840 Rent expense Computer suppies expense- 655 Advertising expense 678 Mileage expense- Miscellaneous expenses Repairs expense Computer $ 90,134 Totals 74 Business Solutions had the following transactions and events in December 2019, Dec 2 Paid $990 cash to Hillside Mail for Business Solutions share of mail advertising costs 3 Paid $470 cash for minor repairs to the company's computer. 4 Received $4.550 cash from Alex's Engineering Co. for the receivable from November 10 Paid cash to Lyn Addie for six days of work at the rate of $120 per day 14/ Notified by Alex's Engineering Co that Business Solutions bid of 37,700 on a proposed project has been accepted. Alex's paid a $2,200 cash advance to Business Solutions Purchased $1,400 of computer supplies on credit from Harris Office Products 16) Sent a reminder to Gomez Coto pay the fee for se c onded on November Completed a project for Liu Corporation and received $0.225 cash Took the week all for the holidays. Received $3,900 cash from Gomez Co, on its receivable Reimbursed S Rey for business automobile mileage (500 miles at $0 24 per mile) 31 The company paid $1,300 cash in dividends. 20 ise R Jagwa thi Due 25 go 120 were to . Payasai in STD 1.300 29.10) Oct, nov, ste wolone X se 16111

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Cost Accounting

Authors: Robert E. Schmiedicke, Edward J. Vanderbeck

11th Edition

0538873426, 978-0538873420

More Books

Students also viewed these Accounting questions

Question

Define Administration and Management

Answered: 1 week ago

Question

Define organisational structure

Answered: 1 week ago

Question

Define line and staff authority

Answered: 1 week ago

Question

Define the process of communication

Answered: 1 week ago

Question

Explain the importance of effective communication

Answered: 1 week ago

Question

What is A free product or gift?

Answered: 1 week ago