Problem Seved 5 38,664 13,018 2,545 1,860 3,180 8,100 $ 20,800 a 101 106 126 128 131 163 164 167 168 201 210 236 307 318 319 483 612 613 623 637 640 652 655 676 677 684 Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Unearned computer services revenue Common stock Retained earnings Dividends Computer services revenue Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Totals a e 67, eee 6,400 33,229 e @ 2,425 1,698 634 19e 713 $100, 229 5100, 229 1 of 1 Next Dec 2 Paid $970 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $420 cash for minor repairs to the company's computer 4 Received $4,ase 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 $100 per day. 14 Notified by Alex's Engineering Co that Business Solutions' bid of $7,200 on a proposed project has been accepted. Alex's paid a $1,000 cash advance to Business Solutions. 15 Purchased $1,100 of computer supplies on credit from Harris Office Products 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. ze Completed a project for Liu Corporation and received $6,375 cash 22- Took the week off for the holidays. 26 28 Received 53.900 cash from Gone Co, on its receivable. 20 Reimbursed 5. Rey for business automobile mileage (500 miles at se. 3a per mile) 31 The company paid $1.400 cash in dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months a. The December 31 inventory count of computer supplies shows $640 still available b. Three months have expired since the 12 month insurance premium was paid in advance c. As of December 31, Lyn Adce has not been paid for four days of work at $100 per day d. The computer system acquired on October 1 is expected to have a Ar-year life with no salvage value e. The office equipment, acquired on October 1, is expected to have a five-year with no salvage value + Thoothu thandranthavnirani Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions 2-a. Prepare adjusting entries to reflect a through 2-b. Post the joumal entries to record each of the December transactions, adjusting entries to the accounts in the ledger. 3. Prepare an adjusted trial balance as of December 31, 2019 4. Prepare an income statement for the three months ended December 31, 2019 5. Prepare a statement of retained earnings for the three months ended December 31, 2019 6. Prepare a balance sheet as of December 31, 2019 7. Record and post the necessary closing entries as of December 31, 2019 8. Prepare a post-closing trial balance as of December 31, 2019 os Complete this question by entering your answers in the tabs below. Roq Reg 2 Reg 28 Reg Req 5 Red R47 Reg $ 38,664 13,018 2,545 1,860 3,180 8,100 $ @ 20, 80e @ @ 101 106 126 128 131 163 164 167 168 201 210 236 307 318 319 403 612 613 623 637 640 652 655 676 677 684 Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Unearned computer services revenue Common stock Retained earnings Dividends Computer services revenue Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Totals a 67,000 e 6,40e 33,229 @ e 2,425 @ e e 1,698 190 715 $100, 229 $100, 229 roblem Saved Help Save & EX Dec. 2 Paid $97e cash to Hillside Mall for Business Solutions' share of wall advertising costs. 3 Paid 5420 cash for minor repairs to the company's computer. 4 Received $4, ese cash from Alex's Engineering Co. for the receivable from November. 1e Paid cash to Lyn Addio for six days of work at the rate of $100 per day 14 Notified by Alex's Engineering co. that Business Solutions' bid of $7.20 on a proposed project has been accepted. Alex's paid a $1,600 cash advance to Business Solutions. 15 Purchased 51,380 of computer supplies on credit from Harris Office Products. 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. ze Completed a project for Liu Corporation and received $6,375 cash. 22- Took the week off for the holidays. 26 28 Received $3,900 cash from Gomez co. on its receivable. 29 Reimbursed S. Rey for business automobile mileage (see siles at 58.38 per mile) 31 The company paid $1,400 cash in dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months a. The December 31 inventory count of computer supplies shows $640 std available b. Three months have expired since the 12-month insurance premium was paid in advance C. As of December 31 Lyn Addie has not been paid for four days of work at $100 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 life with no salvage value f. Three of the four months prepaid rent have expired Prax 1 of 1 Next Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions. 2-a. Prepare adjusting entries to reflect a through 2.b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger 3. Prepare an adjusted trial balance as of December 31, 2019 4. Prepare an income statement for the three months ended December 31, 2019. 5. Prepare a statement of retained earnings for the three months ended December 31, 2019 6. Prepare a balance sheet as of December 31, 2019 7. Record and post the necessary closing entries as of December 31, 2019 8. Prepare a post-closing trial balance as of December 31, 2019. Complete this question by entering your answers in the tabs below. Reg 1 Red 2A Req 2B Reg3 Reg 4 Regs Raq Req7 RAB Prey 1 of 1 Next