October 1, 2021, Santana Rey launched a computer services company called Business Solutions, which provides consulting eervices, computer system installations, and custom program development. The company's initial chart of accounts follows. October. 1 S. Rey invested $54,000 cash, a $25,000 conputer system, and $9,000 of office equipment in the company in exchange for comon stock. October 2 The company paid $3,390 cash for four months' rent. Hint: Debit Prepaid fent for $3,300. october 3 The company purchased $1,410 of computer supplies on credit fron Harris Office Products. actober 5 The company paid $2,10e cash for one year's premium on a property and liability fnsurance policy. Hint: bebit Prepald Insurance for $2,100. October 6 The company billed Easy Leasing $4,908 for services performed in installing a new Veb server. October 8 The compary pald 51,410 cash for the computer supplies purchased fron Harris office Products on October 3. October 10 The company hired Lyn Addie as a part-tine assistant. october 12 The company billed Easy Leasing ahother $1,800 for services perforned. October 15 The company received $4,900 cash fron Easy Leasing as partial paysent on its account. october 17 The company paid $795 cash to repair computer equipment that nas danaged when foving it. Gctober 20 The corosny paid 51,718 cash for advertisements. October 22 . The coopany received $1,800 cash fron Easy Leasing on its eccount. october. 28 The compeny bilied IFM Company $5,608 for services performed. october 31 The conpany paid 5735 cash for Lyn Addie's wages for seven days' work. october 31 the company pald a 13,300 cash alvidend. Hovember 1 The compony paid 5230 cash for mileage expenses. Novenber 2 the company received 55,033 cash fron Liu Corporation for conputer services pertorned. Hovenber 5 The conpany purchased conputer supplies for $1,035 cash from Marris Office Products. Novenber B The coepany billed Gonez Conpany $6,360 for services performed. Whvenber 23 the company agreed to perforn future services for Alex's Engineering Compaoy. Wo work has yet been performed. Hovember 18 The conphny received 81,708 cash from IFI Company as partiel payment of the octoone 28 bil1. Noverber 24 The company completed work and sent a b111 for 54,150 to Alex's endineerine corpory. Hovenben 25 the company sent anather bil1 to IfM cogpany for the past-die asount of $3,900. Hpvenber 20 The conpany pald 5276 cash for nileage oxpenses. Novenuen 30 The conemany paid 81,470 cash for tyn Addie's wages for 14 days' work. Hoveaben so the compary peid a 51,200 cash asildend. Required: 1. Prepare journal entries to record esch of the above transactions for Business Solutions. 2. Prepore ledger occounts (in bolonce column format) and post the joumal enties from requilemant 1 to them. 3. Prepore a trial bolance as of the end of November. Complete this question by entering your answers in the tabs below. On October 1, 2021, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. The company's initial chart of accounts follows. October 1 S. Rey invested $54,000 cash, a $25,000 computer system, and $9,000 of office equipnent in the conpany in exchange for common stock. October 2 The company paid $3,300 cash for four months' rent. Hint: Debit Prepald Rent for $3,300. October 3 The company purchased 51,410 of computer supplies on credit from Harris office Products. October 5 The company paid $2,100 cash for one year's premiun on a property and 11 ability insurance policy. Hint: bebit Prepaid Insurance for $2,100. October 6 The company billed Easy Leasing $4,960 for services performed in installing a new heb serven. October 8 The company paid 51,410 cash for the computer supplies purchased from Harris office Products on october 3. October 10 The company hired Lyn Addie as a part-tine assistant. October 12 The conpany billed Easy Leasing another $1,800 for services performed. october 15 The company received $4,900 cash fron Easy Leasing as partial payment on its account. actober 17 The company paid $795 cash to repair computer equiporent that was dasaged witen moying it. October 20 The company paid $1,718 cash for advertisements. October 22. The company received $1,800 cash from Easy Leasing on its account. October 28 The company billed IFM Company $5,608 for services performed. October 31 The company paid $735 cash for Lyn Addie's wages for seven days' work. October 31 The company paid a $3,300 cash dividend. November 1 The company paid $230 cash for mileage expenses. Hovember 2 The company received $5,033 cash from Liu Corporation for computer services perforned. lovenber 5 the company purchased computer supplies for \$1, 935 cash from Harris office products. Hovember 8 The company billed Gomez Company $6,368 for services performed. November 13 The compony agreed to perform future services for Alex's Engineering Conpany. Wo work has yet been performed. Moveaber 18 The colpany received \$1, 898 cosh from IFM Compory as partial payment of the October 28 bil11. November 22 The company paid $170 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expenses for \$170. November 24 The company completed work and sent a bil1 for \$4, 150 to Alex's Eneineering Conpany. Hovember 25 The company sent another bli1 to IFM Company for the past-due amount of 53,990 . Wovember 28 The company paid $276 cash for mileage expenses. Novenber 3o the conpany paid $1,479 cash for Lyn Addie's wages for 14 days' work. llovember 30 . The company paid a $1,200 cash dividend. Required: 1. Prepare journal entries to record each of the above transactions for Business Solutions. 2. Prepare ledger accounts (in balance column format) and post the joumbl enties from requirement 1 to them. 3. Prepare a trial balance as of the end of November Complete this question by entering your answers in the tabs below. equired: Prepare joumal entries to record each of the above transactions for Business Solutions. Prepare ledger accounts (in balance column format) and post the journal entries from requirement 1 to them. Prepare a trial balance as of the end of November. Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of the above transactions for Business Solutions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet S. Rey invested $54,000 cash, a $25,000 computer system, and $9,000 of office equipment in the company in exchange for common stock. Wotet Enter debts before cred ts. 3. Prepare a trial balance as of the end of November. Complete this question by entering your answers in the tabs below. Prepare a trial balance as of the end of November
