Required information 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 $43,492 3,000 2. . 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 met ca. 106,7 Delta Co 106.8 KC, Inc. 106.9 Dream, Inc 119 Merchandise Inventory 126 Computer supplies 125 Prepaid insurance 131 Prepaid rent 163 office equipment 164 Accumulated depreciation office equipment 16 Computer equipment 168 Accumulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 307 Common Stock 318 Retained earnings 0 590 2,016 825 $ 270 22,000 1,130 1,160 740 1,310 75,371 7,360 In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10,n/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 $185 per day. Four of the five days relate to wages payable that were accrued in the prior year. 5 Santana Rey invested an additional $24,700 cash in the company in exchange for more common stock. 7 The company purchased $6,200 of merchandise from Kansas Corp. with terms of 1/10, n/30, FOB shipping point, invoice dated January 7. 9 The company received $2,788 cash from Gomez Co. as full paytent on its account. 11 The company completed a five-day project for Alex's Engineering Co. and billed it $5,490, which is the total price of $6,800 less the advance payment of $1,310. The company debited Unearned Computer Services Revenue for $1,310 13 The company sold merchandise with a retail value of $5,000 and a cost of $3,450 to Lu Corp., invoice dated January 13. 15 The company paid $760 cash for freight charges on the merchandise purchased on January 7. 16 The company received $4,080 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 $500 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 59,900 of merchandise from Kansas Corp. with terms of 1/10, 1/30, F8 destination, invoice dated January 26. 26 The company sold merchandise with a $4,570 cost for $5,920 on credit to KC, Inc., invoice dated January 26. 31 The company paid cash to Lyn Addie for 10 days' work at $185 per day: 1 The company paid $2,625 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 5486 credit from merchandise returned on January 24. 5 The company paid $570 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 $4,660 cash dividend. 23 The company sold merchandise with a $2,580 cost for 53,370 on credit to Delta Co., invoice dated February 23. 26 The company paid cash to Lyn Addie for eight days' work at 5185 per day. Feb. IN - Hemny pou nous CUP. U LIFE WOLLE UUE HICE LES LLILLLE 200 LICUAL ! merchandise returned on January 24. 5 The company paid $570 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 $4,660 cash dividend. 23 The company sold merchandise with a $2,580 cost for $3,370 on credit to Delta Co., Invoice dated February 23. 26 The company paid cash to Lyn Addie for eight days work at $185 per day. 27 The company reimbursed Santana Rey $128 cash for business automobile mileage. The company recorded the reimbursement as "Mileage Expense." Mar. 8 The company purchased $2,730 of computer supplies from Harris Office Products on credit with terms of n/30, FOB 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 $830 cash for minor repairs to the company's computer. 16 The company received $5,350 cash from Dream, Inc., for computing services provided. 19 The company paid the full amount due of $3,890 to Harris Office Products, consisting of amounts created on December 15 (of $1,160) and March 8. 24 The company billed Easy Leasing for $9,147 of computing services provided. 25 The company sold merchandise with a $2,152 cost for $2,950 on credit to Wildcat Services, Invoice dated March 25. 30 The company sold merchandise with a $1,098 cost for $2,320 on credit to IFM Company, Invoice dated March 30. 31 The company reimbursed Santana Rey $192 cash for business automobile mileage. The company recorded the reimbursement as "Mileage Expense." The following additional facts are available for preparing adjustments on March 31 prior to financial statement preparations a. The March 31 amount of computer supplies still available totals $2.055 b. Prepaid Insurance coverage of $672 expired during this 3-month period, c. Lyn Addie has not been paid for seven days of work at the rate of $185 per day. d. Prepaid rent of $2,625 expired during this 3-month period. e. Depreciation on the computer equipment for January 1 through March 31 is $1,130. f. Depreciation on the office equipment for January 1 through March 31 is $270. 9. The March 31 amount of merchandise inventory still available totals $674 1 sto Required: 1. Prepare journal entries to record each of the January through March transaction 6160 Journal entry worksheet > The company and to Lyn for the cave with me day-Four of the five days be tu wages pertescued the Ww > Part 2 of 5 2. Post the journal entries in part 1 to the accounts in the company's general ledger. Noter, Begin with the ledger's post closing adjusted balances as of December 31, 2019 10 101 16.66 point Dobile Catince 40492 (Doc 3 Dec 31 Check my work Y. THE COUVE CLOUVY VODU 3 art 3 of 3. Prepare a 6 column work sheet that includes the unadjusted trial balance, the March 31 adjustments (a) through (o), and the adjust trial balance. Do not prepare closing entries and do not journalize the adjustments or post them to the ledger 66 BUSINESS SOLUTIONS Partint Work Shoot March 31, 2020 Unadjusted Trial Balance De CH Adjustments De Ch. Adjusid Tiial balance Dr. D Reference No Account The 101 Cash 106.1 Alexis Engineering Co. 106.2 Wildcat Services 1063 Easy Leasing 1064 FM CO 105.5 L Corp 105,6 Games Co 1067 Deltaco 106.8 KG, Inc 1059 Dream Inc 119 Merchandise Inventory 125 Computer supplies 128 Proald insurance 131 Prepaid rent Complete this question by entering your answers in the tabs below. Required 4A Required 4B Prepare an income statement (from the adjusted trial balance in part 3) for the three months ended March 31, 2020. (a) Use a single-step format. List all expenses without differentiating between selling expenses and general and administrativo expenses BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Revenues Total revenues Expenses 0 art 4 Complete this question by entering your answers in the tabs below. 8.66 oint Required Required 43 ebook Prepare an income statement (from the adjusted trial balance in part 3) for the three months ended March 31, 2020: (b) Use a multiple step format that begins with gross sales (service revenues plus gross product sales) and includes separate categories for net sales, cost of goods sold, selling expenses, and general and administrative expenses Categorize the following accounts and selling expenses Wages Expense, Mileage Expense and Advertising ExpenseCategorize the remaining expenses as general and administrative Show less BUSINESS SOLUTIONS Income Statement For The Mouth Ended March 31, 2020 Not Sales Expono Selling en M SWOT Ovom 5. Prepare a statement of retained earnings from the adjusted trial balance in part 3) for the three months ended March 31, 2020 BUSINESS SOLUTIONS Start of Retinod nas For The Months Ended March 31, 2020 Retained earnings Dec 31, 2019 Roli ined earnings, March 31, 2020 You skipped this question in the previous attempt 6 6 Prepare a classified balance sheet from the adjusted trial balance of March 11, 2020 SS SOLUTIONS DO Assets Cut TE Oncem The company and to Lyn for the cave with me day-Four of the five days be tu wages pertescued the Ww > Part 2 of 5 2. Post the journal entries in part 1 to the accounts in the company's general ledger. Noter, Begin with the ledger's post closing adjusted balances as of December 31, 2019 10 101 16.66 point Dobile Catince 40492 (Doc 3 Dec 31 Check my work Y. THE COUVE CLOUVY VODU 3 art 3 of 3. Prepare a 6 column work sheet that includes the unadjusted trial balance, the March 31 adjustments (a) through (o), and the adjust trial balance. Do not prepare closing entries and do not journalize the adjustments or post them to the ledger 66 BUSINESS SOLUTIONS Partint Work Shoot March 31, 2020 Unadjusted Trial Balance De CH Adjustments De Ch. Adjusid Tiial balance Dr. D Reference No Account The 101 Cash 106.1 Alexis Engineering Co. 106.2 Wildcat Services 1063 Easy Leasing 1064 FM CO 105.5 L Corp 105,6 Games Co 1067 Deltaco 106.8 KG, Inc 1059 Dream Inc 119 Merchandise Inventory 125 Computer supplies 128 Proald insurance 131 Prepaid rent Complete this question by entering your answers in the tabs below. Required 4A Required 4B Prepare an income statement (from the adjusted trial balance in part 3) for the three months ended March 31, 2020. (a) Use a single-step format. List all expenses without differentiating between selling expenses and general and administrativo expenses BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Revenues Total revenues Expenses 0 art 4 Complete this question by entering your answers in the tabs below. 8.66 oint Required Required 43 ebook Prepare an income statement (from the adjusted trial balance in part 3) for the three months ended March 31, 2020: (b) Use a multiple step format that begins with gross sales (service revenues plus gross product sales) and includes separate categories for net sales, cost of goods sold, selling expenses, and general and administrative expenses Categorize the following accounts and selling expenses Wages Expense, Mileage Expense and Advertising ExpenseCategorize the remaining expenses as general and administrative Show less BUSINESS SOLUTIONS Income Statement For The Mouth Ended March 31, 2020 Not Sales Expono Selling en M SWOT Ovom 5. Prepare a statement of retained earnings from the adjusted trial balance in part 3) for the three months ended March 31, 2020 BUSINESS SOLUTIONS Start of Retinod nas For The Months Ended March 31, 2020 Retained earnings Dec 31, 2019 Roli ined earnings, March 31, 2020 You skipped this question in the previous attempt 6 6 Prepare a classified balance sheet from the adjusted trial balance of March 11, 2020 SS SOLUTIONS DO Assets Cut TE Oncem