Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 1 point 168 After the success of the company's first two months, Santana Rey continues to operate Business Solutions The November 30, 2019 unadjusted trial balance of Business Solutions reflecting its transactions for October and November of 2019) follows No Account Title Debit Credit 101 Cash $ 39,164 106 Accounts receivable 12,618 126 Computer supplies 2,545 128 Prepaid insurance 2,198 131 Prepaid rent 3,300 163 Office equipment 8,000 Accumulated depreciation Office 164 equipment $ 167 Computer equipment 21,200 Accumulate depreciation Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 387 Connon stock 70,000 318 Retained earnings 319 Dividends 5,600 403 Computer services revenue 30, 234 612 Depreciation expense Office equipment 613 Depreciation expense Computer equipment 623 Wages expense 2,350 637 Insurance expense e 640 Rent expense 652 Computer supplies expense 655 Advertising expense 1,698 676 Mileage expense 694 677 Miscellaneous expenses 24e 684 Repairs expense Computer 725 Totals $100,234 $100,234 Business Solutions had the following transactions and events in December 2010 Dec 2 Paid $1,020 cash to Hillside Mall for Business Solutions share of mall advertising costs 2 Paid 5470 cash for minor repairs to the company's computer 4 Received 54,650 cash from Alex's Engineering Co for the receivable from Novenber 10 Paid cash to Lyn Addie for six days of work at the rate of $110 per day 14 Notified by Alex's Engineering Co that Business Solutions bid of $7,700 on a proposed project has been accepted Alex's paid a $1,800 cash advance to Business Solutions 15 Purchased $1,600 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 20 Completed a project for Liu Corporation and received $6,275 cash 22 Took the week off for the holidays 26 28 Received $3,700 cash from Gomez Co on its receivable 29 Reimbursed S Rey for business automobile mileage (500 miles at $2 23 per sile) 31 The company paid $1,000 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 $620 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 $110 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 1 Three of the four months prepaid rent have expired Required 1 Prepare journal entries to record each of the December transactions and events for Business Solutions 2 a Prepare adjusting entries to reflect through 2b Post the journal entries to record each of the December transactions from Requirement and adjusting entries from Requirement 2A After completing Requirement 7 post the closing entries to the general ledger accounts 3 Prepare an adjusted trial balance as of December 31, 2019 4 Prepare an income statement for the three months ended December 31, 2010 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 the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 28 8 Prepare a post closing trial balance as of December 31, 2019 Complete this question by entering your answers in the tabs below Reg1 Res 23 Reg 28 Reg4 Regs RO Req Rega Post the journal entries to record each of the December transactions from Requirement and adjusting entries from Requirement 2A Aer completing Requirement 7 post the closing entries to the general ledger accounts 101 Can Date Debit Credit 106 Accounts Receivable Debit Credit Balance 9 164 Dec 01 Dale Dec 01 Balance 12 18 Dec 31 126 Computer Supplies De Credit Date Decor Balance 2 545 128 Prepaid Insurance Debat Credit Date Des et Balance 2 100 Date Dec 01 151 Prepad Rent Debit Crec 163 Omce Equipment Debt Credit Date Balance 3 300 Dec 01 3 000 104 Acted Depreciation omce Equipment Dale Debat Dec 01 157 Computer Equipment Deb Credit ol Date Det 01 21 200 18 Accumulate Depreciation Computer aliment Date Debil Coor Balance Dec 01 201 Account Paya Debit Credit Date Dec 01 Banco 210 wages Payable 236 Unearned computer Services Revenue 210 Waga Pay Date Date Credit Balance 236 Unoured Computer Services Rovence Date Debit Croce Datace Dec 01 Dec 01 307 Common Stock Detit Credit 318 Retained Earnings Debat Credit Date Balance Balance 70 000 Dec on Dec 01 313 Dividende Croce Daha 40 Computer Service Ravenue Dett Credit Eco 5 600 Dec 01 Date Dec 01 Balance 30 234 512 Depreciation Exponos oca quant Date Crecht Balance Dec 01 613 Depreciation Expense Computer Equipment Date Debit Credit Balance Dec 01 Dobit Crecht Date Balance 2 350 637 Expose Det Crede Date Dec 01 Balance 1 Rund Expo Dont Credit est Computer Supplies Expense Debet Credit Dec 01 al Date Dec 01 Balance Dube Do Caudit 576 Mange Expanee Det Cred Dec 01 1 Dec 01 04 CIT nous pense Donit Creat Data 4 Nepal Expense Computer Dett Date Dec 01 200 Balance Det 201 como Summary Det Crec Complete this question by entering your answers in the tabs below Reg 1 Reg 2A Reg 28 Reg 3 Reg4 Reg 5 Reg 6 Reg 2 Req8 Prepare an adjusted trial balance as of December 31, 2019 BUSINESS SOLUTIONS Adjusted Trial Balance December 31, 2015 Account Title Debit Credit Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Ofice equipment Accumulated depreciation Office equipment Computer equipment Accumulated depreciation Computer equipment Accounts payable Wages payable Uneared computer services revenue Common stock Retained earnings Dividiends 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 8 Prepare a post closing trial balance as of Complete this question by entering your answers in the tabs below Reg 1 Reg 2A Reg 2 Reg 4 Reg 28 Reg 8 Reg 3 Reg 5 Reg 6 Prepare an income statement for the three months ended December 31, 2019 BUSINESS SOLUTIONS Income Statement For Three Months Ended December 31, 2015 Revenue Expenses Total expenses Complete this question by entering your answers in the tabs below Reg 1 Reg ZA Req 2B Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Reg B Prepare a statement of retained earnings for the three months ended December 31, 2019 BUSINESS SOLUTIONS Statement of Retained Earnings For Three Months Ended December 31, 2019 Retained earnings, October 1, 2019 O Retained earnings, December 21, 2019 $ 0 Reg 6 Reg 7 Reg 2A Reg 2B Reg 3 Reg 4 Reg 5 Reg 1 Prepare a balance sheet as of December 31, 2019 BUSINESS SOLUTIONS Balance Sheet December 31, 2019 Asaeta 0 Tatal Assets 0 Llabilities Tatal Liabilities Equity Total equity Tatal Liabilities and Equity 8 Prepare a post closing trial balance as of December 31, 2019 Complete this question by entering your answers in the tabs below Reg 28 Reg 6 Reg Reg 1 Rea 2 Req3 Reg 4 Reg 5 Reg 7 Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requiren View transaction Hot Journal entry worksheet Complete this question by entering your answers in the tabs below Reg 1 Reg 2A Req 2B Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Prepare a post closing trial balance as of December 31, 2019, BUSINESS SOLUTIONS Post Closing Trial Balance December 31, 2019 Debit Credit 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 Totals ( Req7 HARDO

Question

Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 1 point 168 After the success of the company's first two months, Santana Rey continues to operate Business Solutions  The November 30, 2019 unadjusted trial balance of Business Solutions reflecting its transactions for October and November of 2019) follows No  Account Title Debit Credit 101 Cash $ 39,164 106 Accounts receivable 12,618 126 Computer supplies 2,545 128 Prepaid insurance 2,198 131 Prepaid rent 3,300 163 Office equipment 8,000 Accumulated depreciation Office 164 equipment $ 167 Computer equipment 21,200 Accumulate depreciation Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 387 Connon stock 70,000 318 Retained earnings 319 Dividends 5,600 403 Computer services revenue 30, 234 612 Depreciation expense Office equipment   613 Depreciation expense Computer equipment 623 Wages expense 2,350 637 Insurance expense e 640 Rent expense 652 Computer supplies expense 655 Advertising expense 1,698 676 Mileage expense 694 677 Miscellaneous expenses 24e 684 Repairs expense Computer 725 Totals $100,234 $100,234 Business Solutions had the following transactions and events in December 2010 Dec  2 Paid $1,020 cash to Hillside Mall for Business Solutions share of mall advertising costs  2 Paid 5470 cash for minor repairs to the company's computer  4 Received 54,650 cash from Alex's Engineering Co  for the receivable from Novenber  10 Paid cash to Lyn Addie for six days of work at the rate of $110 per day  14 Notified by Alex's Engineering Co  that Business Solutions bid of $7,700 on a proposed project has been accepted  Alex's paid a $1,800 cash advance to Business Solutions  15 Purchased $1,600 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  20 Completed a project for Liu Corporation and received $6,275 cash  22  Took the week off for the holidays  26 28 Received $3,700 cash from Gomez Co  on its receivable  29 Reimbursed S  Rey for business automobile mileage (500 miles at $2 23 per sile)  31 The company paid $1,000 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 $620 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 $110 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 1  Three of the four months prepaid rent have expired  Required  1  Prepare journal entries to record each of the December transactions and events for Business Solutions 2 a  Prepare adjusting entries to reflect through 2b  Post the journal entries to record each of the December transactions from Requirement and adjusting entries from Requirement 2A  After completing Requirement 7 post the closing entries to the general ledger accounts  3  Prepare an adjusted trial balance as of December 31, 2019 4  Prepare an income statement for the three months ended December 31, 2010 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 the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 28 8  Prepare a post closing trial balance as of December 31, 2019  Complete this question by entering your answers in the tabs below  Reg1 Res 23 Reg 28 Reg4 Regs RO Req Rega Post the journal entries to record each of the December transactions from Requirement and adjusting entries from Requirement 2A  Aer completing Requirement 7 post the closing entries to the general ledger accounts  101  Can Date Debit Credit 106  Accounts Receivable Debit Credit Balance 9 164 Dec 01 Dale Dec 01 Balance 12 18 Dec 31 126 Computer Supplies De Credit Date Decor Balance 2 545 128  Prepaid Insurance Debat Credit Date Des et Balance 2 100 Date Dec 01 151  Prepad Rent Debit Crec 163  Omce Equipment Debt Credit Date Balance 3 300 Dec 01 3 000 104  Acted Depreciation omce Equipment Dale Debat Dec 01 157  Computer Equipment Deb Credit ol Date Det 01 21 200 18  Accumulate Depreciation Computer aliment Date Debil Coor Balance Dec 01 201  Account Paya Debit Credit Date Dec 01 Banco 210 wages Payable 236  Unearned computer Services Revenue 210  Waga Pay Date Date Credit Balance 236  Unoured Computer Services Rovence Date Debit Croce Datace Dec 01 Dec 01 307  Common Stock Detit Credit 318  Retained Earnings Debat Credit Date Balance Balance 70 000 Dec  on Dec 01 313  Dividende Croce Daha 40  Computer Service Ravenue Dett Credit Eco 5 600 Dec 01 Date Dec 01 Balance 30 234 512 Depreciation Exponos oca quant Date Crecht Balance Dec 01 613 Depreciation Expense Computer Equipment Date Debit Credit Balance Dec 01   Dobit Crecht Date Balance 2 350 637  Expose Det Crede Date Dec 01 Balance 1  Rund Expo Dont Credit est  Computer Supplies Expense Debet Credit Dec 01 al Date Dec 01 Balance Dube Do Caudit 576 Mange Expanee Det Cred Dec 01 1  Dec 01 04 CIT  nous pense Donit Creat Data 4 Nepal Expense Computer Dett Date Dec 01 200 Balance Det 201 como Summary Det Crec Complete this question by entering your answers in the tabs below  Reg 1 Reg 2A Reg 28 Reg 3 Reg4 Reg 5 Reg 6 Reg 2 Req8 Prepare an adjusted trial balance as of December 31, 2019  BUSINESS SOLUTIONS Adjusted Trial Balance December 31, 2015 Account Title Debit Credit Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Ofice equipment Accumulated depreciation Office equipment Computer equipment Accumulated depreciation Computer equipment Accounts payable Wages payable Uneared computer services revenue Common stock Retained earnings Dividiends 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 8  Prepare a post closing trial balance as of Complete this question by entering your answers in the tabs below  Reg 1 Reg 2A Reg 2 Reg 4 Reg 28 Reg 8 Reg 3 Reg 5 Reg 6 Prepare an income statement for the three months ended December 31, 2019  BUSINESS SOLUTIONS Income Statement For Three Months Ended December 31, 2015 Revenue Expenses Total expenses Complete this question by entering your answers in the tabs below  Reg 1 Reg ZA Req 2B Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Reg B Prepare a statement of retained earnings for the three months ended December 31, 2019  BUSINESS SOLUTIONS Statement of Retained Earnings For Three Months Ended December 31, 2019 Retained earnings, October 1, 2019 O Retained earnings, December 21, 2019 $ 0 Reg 6 Reg 7 Reg 2A Reg 2B Reg 3 Reg 4 Reg 5 Reg 1 Prepare a balance sheet as of December 31, 2019  BUSINESS SOLUTIONS Balance Sheet December 31, 2019 Asaeta 0 Tatal Assets 0 Llabilities Tatal Liabilities Equity Total equity Tatal Liabilities and Equity 8  Prepare a post closing trial balance as of December 31, 2019  Complete this question by entering your answers in the tabs below  Reg 28 Reg 6 Reg Reg 1 Rea 2 Req3 Reg 4 Reg 5 Reg 7 Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requiren View transaction Hot Journal entry worksheet Complete this question by entering your answers in the tabs below  Reg 1 Reg 2A Req 2B Reg 3 Reg 4 Reg 5 Reg 6 Reg 7 Prepare a post closing trial balance as of December 31, 2019, BUSINESS SOLUTIONS Post Closing Trial Balance December 31, 2019 Debit Credit 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 Totals ( Req7 HARDO

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Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 1 point 168 After the success of the company's first two months, Santana Rey

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