Question 1 At the end of its operations, December 2020, Pixel Computing Service (PCS) completed the following transactions: December: 1. Mr. Daren invested capital to his company amounting $2,000,000. half portion of the capital is in the form of computers and the rest is in cash. 2. PCS rent an office building for $120,000 with 2 years rental agreement. 3. PCS paid $240 for advertising their computer business in the local newspaper next 6 months. 4. PCS used the company's credit card to pay for the company's electricity bill amounting to $300. 5. SDS transferred $3,000 from the company's account to Mr. Daren personal account to finance his business trip to Hongkong. 6. PCS bought office furniture for $1,000 with a cheque. 7. PCS made a purchase on account, printer amounting $50. 8. PCS performed repaired service for a customer and received a cheque of $6,500. 9. PCS was able to complete a repair service job worth $ 4,000. PCS is giving the client 2 weeks to pay the half of the remaining amount, as the client has made an advance payment today for the half of the service. 10. The technician drove the delivery truck last week and had an accident. The company repaired the truck and cost them $200 for body repair and painting. 11. Performed computer repair services for cash $1,000. 12. Paid gasoline for the delivery truck amounting to $50. 13. PCS sent a bill to a client for a computer service amounting to $500. 14. PCS sent the delivery truck for another repair to the auto shop and incurring a cost amounting to $220. 15. PCS transferred $3,000 to all accounts of the employees for their compensation this month. 16. PCS received $2,000 cash for repairing and installing service for 10 computers. PCS promised the client to finish their job by the end of January. Required: A. Journal each transaction in the general journal for the month of December 2020 using appropriate account titles. B. Post entries to T-accounts. (The T-accounts are provided on the next page). C. Prepare the Trial Balance for the year ended December 31, 2020. D. Adjust the following accounts: i. Half of these Advance fees remain unearned on December 31. ii. Prepare adjusting entries for prepaid rent and prepaid advertising at the end of the year. E. Prepare Adjusted Trial balance on December 31, 2020. F. Prepare the Income Statement, Owners Equity and Balance Sheet for the month of December 2020. G. Prepare closing entries and post-closing trial balance on December 31, 2020