Required:

$1.$ Prepare journal entries tAfter the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November $30,2021,$

unadjusted trial balance of Business Solutions $($reflecting its transactions for October and November of $2021)$ follows.

Business Solutions had the following transactions and events in December $2021.$

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 $$580$ still 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 $$120$ 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.

Required:

Prepare journal entries to record each of the December transactions. Post those entries to the accounts in the ledger.

$2-$a$.$ Prepare adjusting entries to reflect a through $f.$

$2-$b$.$ Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger.

Prepare an adjusted trial balance as of December $31,2021.$

Prepare an income statement for the three months ended December $31,2021.$

Prepare a statement of retained earnings for the three months ended December $31,2021.$

Prepare a classified balance sheet as of December $31,2021.$

Record the necessary closing entries as of December $31,2021.$

Prepare a post$-$closing trial balance as of December $31,2021.$o record each of the December transactions. Post those entries to the accounts in the ledger.

$2-$a$.$ Prepare adjusting entries to reflect a through f$.$

$2-$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 $31,2021.$

$4.$ Prepare an income statement for the three months ended December $31,2021.$

$5.$ Prepare a statement of retained earnings for the three months ended December $31,2021.$

$6.$ Prepare a classified balance sheet as of December $31,2021.$

$7.$ Record the necessary closing entries as of December $31,2021.$

$8.$ Prepare a post$-$closing trial balance as of December $31,2021.$