! Required information Serial Problem Business Solutions LO P1, P2, P3, P4 [The following information applies to the questions displayed below) Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts Credit Debit $48,452 0 3,080 No. Account Title 101 Cash 106.1 Alex's Engineering Co. 106.2 Wildcat Services 106.3 Easy Leasing 106.4 IFH CO. 106.5 Liu Corp 106.6 Gomez Co. 106.7 Delta Co. 106.8 KC, Inc. 106.9 Dream, Inc. 119 Merchandise inventory 126 Computer supplies 128 Prepaid insurance Dans 2,808 a 640 1,989 82F C O Etc 3 search 119 126 128 131 640 1,989 925 8,140 163 164 167 $ 220 20, 300 168 201 210 236 307 1,140 1,118 700 1,310 72,694 9,160 318 319 403 Merchandise inventory 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 Sales Sales returns and allowances Sales discounts Cost of goods sold 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 413 414 415 502 612 613 623 637 0 @ 640 8 652 655 676 677 684 In response to requests from customers, S. Rey will begin selling computer software. The comp A LA LA LA III =4 / h em Tin - Tin Wem ra so mi + + || - - - - - Help Saves Exit Check In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10, 1/30, FOB shipping point to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119,413, 414, 415, and 502) are added to its general ledger to accommodate the company's new merchandising activities. Its transactions for January through March follow Jan. 4 The company paid cash to Lyn Addie for five days' work at the rate of $175 per day. Four of the five days relate to wages payable that were accrued in the prior year. 5 Santana Rey invested an additional $23,900 cash in the company in exchange for more common stock. 7 The company purchased $6,100 of merchandise from Kansas Corp. with terms of 1/10, 1/30, FOB shipping point, invoice dated January 7. 9. The company received $2,888 cash from Gomez Co. as full payment on its account. 11 The company completed a five-day project for Alex's Engineering Co. and billed it $5,450, which is the total price of $6,760 less the advance payment of 51,310. The company debited Unearned computer Services Revenue for $1,319. 13 The company sold merchandise with a retail value of $4,600 and a cost of $3,400 to Liu Corp., invoice dated January 13. 15 The company paid $610 cash for freight charges on the merchandise purchased on January 7. 16 The company received $4,060 cash from Delta Co. for computer services provided. 17 The company paid Kansas Corp. for the invoice dated January 7, net of the discount. 20 The company gave a price reduction (allowance) of $600 to Liu Corp., and credited Liu's accounts receivable for that amount. 22 The company received the balance due from Liu Corp., net of the discount and the allowance. 24 The company returned defective merchandise to Kansas Corp. and accepted a credit against future purchases (debited accounts payable). The defective merchandise invoice cost, net of the discount, was $486. 26 The company purchased 59,500 of merchandise from Kansas Corp. with terms of 1/10, n/30, FOB destination, invoice dated January 26. 26 The company sold merchandise adth a 54, 480 cost for 55.900 on credit to KC, Inc., invoice dated January 26. 31 The company paid cash to Lyn Addie for 10 days' work at $175 per day. 1 The company paid $2,775 cash to Hillside Mall for another three months' rent in advance. 3. The company paid Kansas Corp. for the balance due, net of the cash discount, less the $486 credit from Feb. o - @ Ao II 82F Clear . contexternal browser launchUnhttp%253A%252F%252Fblackboard.sanced2527 application Problems Help Feb. Check my Mar 1 The company paid 52,775 cash to Hillside Mall for another three months' rent in advance. 3 The company paid Kansas Corp. for the balance due, net of the cash discount, less the $156 credit from merchandise returned on January 24. 5 The company paid $530 cash to Facebook for an advertisement to appear on February 5 only. 11 The company received the balance due from Alex's Engineering Co. for fees billed on January 11, 15 The company paid a $4,540 cash dividend. 22 The company sold merchandise with a $2,50 cost for $3,410 on credit to Delta Co., Invoice dated February 23. 26 The company paid cash to Lyn Addle for eight days' work at $175 per day 27 The company reimbursed Santana Rey 5160 cash for business automobile mileage. The company recorded the reimbursement as Mileage Expense." 8 The company purchased $2,880 of computer supplies from Harris office Products on credit with terms of 1/30, FOG destination, invoice dated March 8. 9. The company received the balance due from Delta Co. for merchandise sold on February 23. 11 The company paid $930 cash for minor repairs to the company's computer 16 The company received 55,290 cash from Dream, Inc.for computing services provided 19 The company paid the full amount due of $3,990 to Harris Office Products, consisting of mounts created on December 15 (of $1,110) and March 8. 24 The company billed Easy Leasing for $9,107 of computing services provided 25 The company sold merchandise with a $2,012 cost for $2,810 on credit to wildcat Services, Invoice dated March 25 30 The company sold merchandise with a $1,018 cost for $2,240 on credit to the Company, invoice dated March 30. 31 The company reimbursed Santana Rey $256 cash for business automobile alleageThe company recorded the reimbursement as "Mileage Expense." The following additional facts are available for preparing adjustments on March 31 prior to financial statement preparation a. The March 31 amount of computer supplies still available totals $2,015 b. Prepaid Insurance coverage of $663 expired during this 3-month period c. Lyn Addie has not been paid for seven days of work at the rate of $175 per day d. Prepaid rent of $2,775 expired during this 3-month period. e. Depreciation on the computer equipment for January 1 through March 31 is $1,140, f. Depreciation on the office equipment for January 1 through March 31 is $220 82F Clear 40 O . Search Help 2 Urnen unserent that in the then the month Required information BUSINESS SOLUTIONS Partial Work Sheet March 31, 2020 Unadjusted Trial Balance Cr. Adjustments Adjusted Trial Balance DL. DI Ct. Dr. Cr No. Account Title 101 Cash 106.1 Alex's Engineering Co. 106 2 Wildcat Services 106.3 Easy Leasing 106.4 IFM Co. 106.5 Liu Corp 106.6 Gomez Co. 106.7 Delta Co 106.8 KC, Inc 106.9 Dream, Inc 119 Merchandise inventory 126 Computer supplies 128 Prepaid insurance 1131 Prenaid rent ! 82' search o te resp B Required information 128 131 of 6 163 164 167 168 201 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 Sales 210 236 . 307 318 319 403 413 414 Sales returns and allowances 415 Sales discounts 502 612 Cost of goods sold Depreciation expense-Office equipment Depreciation expense-Computer equipment 613 CO Required information 414 415 502 612 613 623 637 Sales returns and allowances Sales discounts Cost of goods sold 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 640 652 655 676 677 684 O 0 0 ! Required information Serial Problem Business Solutions LO P1, P2, P3, P4 [The following information applies to the questions displayed below) Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts Credit Debit $48,452 0 3,080 No. Account Title 101 Cash 106.1 Alex's Engineering Co. 106.2 Wildcat Services 106.3 Easy Leasing 106.4 IFH CO. 106.5 Liu Corp 106.6 Gomez Co. 106.7 Delta Co. 106.8 KC, Inc. 106.9 Dream, Inc. 119 Merchandise inventory 126 Computer supplies 128 Prepaid insurance Dans 2,808 a 640 1,989 82F C O Etc 3 search 119 126 128 131 640 1,989 925 8,140 163 164 167 $ 220 20, 300 168 201 210 236 307 1,140 1,118 700 1,310 72,694 9,160 318 319 403 Merchandise inventory 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 Sales Sales returns and allowances Sales discounts Cost of goods sold 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 413 414 415 502 612 613 623 637 0 @ 640 8 652 655 676 677 684 In response to requests from customers, S. Rey will begin selling computer software. The comp A LA LA LA III =4 / h em Tin - Tin Wem ra so mi + + || - - - - - Help Saves Exit Check In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10, 1/30, FOB shipping point to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119,413, 414, 415, and 502) are added to its general ledger to accommodate the company's new merchandising activities. Its transactions for January through March follow Jan. 4 The company paid cash to Lyn Addie for five days' work at the rate of $175 per day. Four of the five days relate to wages payable that were accrued in the prior year. 5 Santana Rey invested an additional $23,900 cash in the company in exchange for more common stock. 7 The company purchased $6,100 of merchandise from Kansas Corp. with terms of 1/10, 1/30, FOB shipping point, invoice dated January 7. 9. The company received $2,888 cash from Gomez Co. as full payment on its account. 11 The company completed a five-day project for Alex's Engineering Co. and billed it $5,450, which is the total price of $6,760 less the advance payment of 51,310. The company debited Unearned computer Services Revenue for $1,319. 13 The company sold merchandise with a retail value of $4,600 and a cost of $3,400 to Liu Corp., invoice dated January 13. 15 The company paid $610 cash for freight charges on the merchandise purchased on January 7. 16 The company received $4,060 cash from Delta Co. for computer services provided. 17 The company paid Kansas Corp. for the invoice dated January 7, net of the discount. 20 The company gave a price reduction (allowance) of $600 to Liu Corp., and credited Liu's accounts receivable for that amount. 22 The company received the balance due from Liu Corp., net of the discount and the allowance. 24 The company returned defective merchandise to Kansas Corp. and accepted a credit against future purchases (debited accounts payable). The defective merchandise invoice cost, net of the discount, was $486. 26 The company purchased 59,500 of merchandise from Kansas Corp. with terms of 1/10, n/30, FOB destination, invoice dated January 26. 26 The company sold merchandise adth a 54, 480 cost for 55.900 on credit to KC, Inc., invoice dated January 26. 31 The company paid cash to Lyn Addie for 10 days' work at $175 per day. 1 The company paid $2,775 cash to Hillside Mall for another three months' rent in advance. 3. The company paid Kansas Corp. for the balance due, net of the cash discount, less the $486 credit from Feb. o - @ Ao II 82F Clear . contexternal browser launchUnhttp%253A%252F%252Fblackboard.sanced2527 application Problems Help Feb. Check my Mar 1 The company paid 52,775 cash to Hillside Mall for another three months' rent in advance. 3 The company paid Kansas Corp. for the balance due, net of the cash discount, less the $156 credit from merchandise returned on January 24. 5 The company paid $530 cash to Facebook for an advertisement to appear on February 5 only. 11 The company received the balance due from Alex's Engineering Co. for fees billed on January 11, 15 The company paid a $4,540 cash dividend. 22 The company sold merchandise with a $2,50 cost for $3,410 on credit to Delta Co., Invoice dated February 23. 26 The company paid cash to Lyn Addle for eight days' work at $175 per day 27 The company reimbursed Santana Rey 5160 cash for business automobile mileage. The company recorded the reimbursement as Mileage Expense." 8 The company purchased $2,880 of computer supplies from Harris office Products on credit with terms of 1/30, FOG destination, invoice dated March 8. 9. The company received the balance due from Delta Co. for merchandise sold on February 23. 11 The company paid $930 cash for minor repairs to the company's computer 16 The company received 55,290 cash from Dream, Inc.for computing services provided 19 The company paid the full amount due of $3,990 to Harris Office Products, consisting of mounts created on December 15 (of $1,110) and March 8. 24 The company billed Easy Leasing for $9,107 of computing services provided 25 The company sold merchandise with a $2,012 cost for $2,810 on credit to wildcat Services, Invoice dated March 25 30 The company sold merchandise with a $1,018 cost for $2,240 on credit to the Company, invoice dated March 30. 31 The company reimbursed Santana Rey $256 cash for business automobile alleageThe company recorded the reimbursement as "Mileage Expense." The following additional facts are available for preparing adjustments on March 31 prior to financial statement preparation a. The March 31 amount of computer supplies still available totals $2,015 b. Prepaid Insurance coverage of $663 expired during this 3-month period c. Lyn Addie has not been paid for seven days of work at the rate of $175 per day d. Prepaid rent of $2,775 expired during this 3-month period. e. Depreciation on the computer equipment for January 1 through March 31 is $1,140, f. Depreciation on the office equipment for January 1 through March 31 is $220 82F Clear 40 O . Search Help 2 Urnen unserent that in the then the month Required information BUSINESS SOLUTIONS Partial Work Sheet March 31, 2020 Unadjusted Trial Balance Cr. Adjustments Adjusted Trial Balance DL. DI Ct. Dr. Cr No. Account Title 101 Cash 106.1 Alex's Engineering Co. 106 2 Wildcat Services 106.3 Easy Leasing 106.4 IFM Co. 106.5 Liu Corp 106.6 Gomez Co. 106.7 Delta Co 106.8 KC, Inc 106.9 Dream, Inc 119 Merchandise inventory 126 Computer supplies 128 Prepaid insurance 1131 Prenaid rent ! 82' search o te resp B Required information 128 131 of 6 163 164 167 168 201 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 Sales 210 236 . 307 318 319 403 413 414 Sales returns and allowances 415 Sales discounts 502 612 Cost of goods sold Depreciation expense-Office equipment Depreciation expense-Computer equipment 613 CO Required information 414 415 502 612 613 623 637 Sales returns and allowances Sales discounts Cost of goods sold 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 640 652 655 676 677 684 O 0 0