1. Prepare a journal entries

3.

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 $48,00 cash, a $27,00 computer system, and $8,00 of office equipment in the company in exchange for common stock. October 2 The company paid $3,30 cash for four months' rent. Hint: Debit Prepaid Rent for $3,390. October 3 The company purchased $1,49 of computer supplies on credit from Harris office Products. October 5 The company paid $1,920 cash for one year's premium on a property and liability insurance policy. Hint: Debit Prepaid Insurance for $1,920. October 6 The company billed Easy Leasing \$5,200 for services performed in installing a new Web server. October 8 The company paid $1,40 cash for the computer supplies purchased from Harris office Products on October 3 . October 10 The company hired Lyn Addie as a part-time assistant. October 12 The company billed Easy Leasing another $2,30 for services performed. October 15 The company received $5,200 cash from Easy Leasing as partial payment on its account. October 17 The company paid $895 cash to repair computer equipment that was damaged when moving it. October 29 The company paid $1,713 cash for advertisements. October 22 The company received $2,300 cash from Easy Leasing on its account. October 28 The company billed IFM Company $6,08 for services performed. October 31 The company paid $1, 015 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 $24 cash for mileage expenses. November 2 The company received $5,333 cash from Liu Corporation for computer services performed. November 5 The company purchased computer supplies for $1,989 cash from Harris office Products. November 8 The company billed Gomez Company $6,368 for services performed. November 13 The company agreed to perform future services for Alex's Engineering Company. No work has yet been performed. November 18 The company received $3,308 cash from IFM Company as partial payment of the October 28 bill. November 22 The company paid $180 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expenses for $18. November 24 The company completed work and sent a bill for $4,450 to Alex's Engineering Company. November 25 The company sent another bill to IFM Company for the past-due amount of $2,700. November 28 The company paid $288 cash for mileage expenses. November 3 The company paid $2, 33 e cash for Lyn Addie's wages for 14 days' work. November 30 The company paid a $1,70 cash dividend. Requlred: 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 journal entries from requirement 1 to them. 3. Prepare a trial balance as of the end of November. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ BUSINESS SOLUTIONS } \\ \hline \multicolumn{3}{|c|}{ Trial Balance } \\ \hline \multicolumn{3}{|c|}{ November 30} \\ \hline & Debit & Credit \\ \hline Cash & & \\ \hline Accounts receivable & & \\ \hline Computer supplies & & \\ \hline Prepaid insurance & & \\ \hline Prepaid rent & & \\ \hline Office equipment & & \\ \hline Computer equipment & & \\ \hline Accounts payable & & \\ \hline Common stock & & \\ \hline Dividends & & \\ \hline Computer services revenue & & \\ \hline Wages expense & & \\ \hline Advertising expense & & \\ \hline Mileage expense & & \\ \hline Miscellaneous expenses & & \\ \hline Repairs expense-Computer & & \\ \hline Totals & & \\ \hline \end{tabular} 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 $48,00 cash, a $27,00 computer system, and $8,00 of office equipment in the company in exchange for common stock. October 2 The company paid $3,30 cash for four months' rent. Hint: Debit Prepaid Rent for $3,390. October 3 The company purchased $1,49 of computer supplies on credit from Harris office Products. October 5 The company paid $1,920 cash for one year's premium on a property and liability insurance policy. Hint: Debit Prepaid Insurance for $1,920. October 6 The company billed Easy Leasing \$5,200 for services performed in installing a new Web server. October 8 The company paid $1,40 cash for the computer supplies purchased from Harris office Products on October 3 . October 10 The company hired Lyn Addie as a part-time assistant. October 12 The company billed Easy Leasing another $2,30 for services performed. October 15 The company received $5,200 cash from Easy Leasing as partial payment on its account. October 17 The company paid $895 cash to repair computer equipment that was damaged when moving it. October 29 The company paid $1,713 cash for advertisements. October 22 The company received $2,300 cash from Easy Leasing on its account. October 28 The company billed IFM Company $6,08 for services performed. October 31 The company paid $1, 015 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 $24 cash for mileage expenses. November 2 The company received $5,333 cash from Liu Corporation for computer services performed. November 5 The company purchased computer supplies for $1,989 cash from Harris office Products. November 8 The company billed Gomez Company $6,368 for services performed. November 13 The company agreed to perform future services for Alex's Engineering Company. No work has yet been performed. November 18 The company received $3,308 cash from IFM Company as partial payment of the October 28 bill. November 22 The company paid $180 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expenses for $18. November 24 The company completed work and sent a bill for $4,450 to Alex's Engineering Company. November 25 The company sent another bill to IFM Company for the past-due amount of $2,700. November 28 The company paid $288 cash for mileage expenses. November 3 The company paid $2, 33 e cash for Lyn Addie's wages for 14 days' work. November 30 The company paid a $1,70 cash dividend. Requlred: 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 journal entries from requirement 1 to them. 3. Prepare a trial balance as of the end of November. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ BUSINESS SOLUTIONS } \\ \hline \multicolumn{3}{|c|}{ Trial Balance } \\ \hline \multicolumn{3}{|c|}{ November 30} \\ \hline & Debit & Credit \\ \hline Cash & & \\ \hline Accounts receivable & & \\ \hline Computer supplies & & \\ \hline Prepaid insurance & & \\ \hline Prepaid rent & & \\ \hline Office equipment & & \\ \hline Computer equipment & & \\ \hline Accounts payable & & \\ \hline Common stock & & \\ \hline Dividends & & \\ \hline Computer services revenue & & \\ \hline Wages expense & & \\ \hline Advertising expense & & \\ \hline Mileage expense & & \\ \hline Miscellaneous expenses & & \\ \hline Repairs expense-Computer & & \\ \hline Totals & & \\ \hline \end{tabular}