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the blue highlighted boxes are what need to be filled in SP 3 Serial Problem Business Solutions (Algo) LO P1, P2, P3, P4, P5 After

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SP 3 Serial Problem Business Solutions (Algo) LO P1, P2, P3, P4, P5 After 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. December 2 pasd $2,005 cash to Hullside Mall for Dusiness solutiona's share of mail. advertialag costs. December 3 Paid $490 canh for ninor repaira to the company'a donpucor. Decenber 4 Recelved $4,150 cash from Alex's Ingiseering Conpany for the receivable fron kovenber. becenber 10 pald cain to Iyn Addiefor aix days of work at the rate of \$115 per day. Decenber 14 Notified by Alex's Englneering Company that Businens Solutions 'o bid of $2, 500 on a proposed project has been acceptnd. Alex's pald a 52,500 cesh advance to businesa solutions. December 15 Purchased $1,500 of computer eupplies on crodit from llarris office products. December 16 sent a reminder to Coenez Corpany to pay the tee for servicen recorded on Noveaber 8 . December 20 Conpleted a project for tilu Corporation and received 55,925 cash. Decenber 2226 Took the week of for the bolldays. December 28 Received $3,500 eash from Gosez Cenpany on ite receivable. December 29 lefimbursed S. Rey for business automobile-mileage (400 niles at \$0.27 per mile). Decembor 31 5. Moy withdrev $1,100 cash fron the company for personal uso. 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 $650 still available. b. Three months have expired since the 12 -month insurance premium was paid in advance. c. As of December 31, Lyn Addle has not been paid for four days of work at $115 per doy. 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: 1. Prepare journal entries to record each of the December transoctions and events for Business Solutions. 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. 106: Accounts Recelvable SP 3 Serial Problem Business Solutions (Algo) LO P1, P2, P3, P4, P5 After 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. December 2 pasd $2,005 cash to Hullside Mall for Dusiness solutiona's share of mail. advertialag costs. December 3 Paid $490 canh for ninor repaira to the company'a donpucor. Decenber 4 Recelved $4,150 cash from Alex's Ingiseering Conpany for the receivable fron kovenber. becenber 10 pald cain to Iyn Addiefor aix days of work at the rate of \$115 per day. Decenber 14 Notified by Alex's Englneering Company that Businens Solutions 'o bid of $2, 500 on a proposed project has been acceptnd. Alex's pald a 52,500 cesh advance to businesa solutions. December 15 Purchased $1,500 of computer eupplies on crodit from llarris office products. December 16 sent a reminder to Coenez Corpany to pay the tee for servicen recorded on Noveaber 8 . December 20 Conpleted a project for tilu Corporation and received 55,925 cash. Decenber 2226 Took the week of for the bolldays. December 28 Received $3,500 eash from Gosez Cenpany on ite receivable. December 29 lefimbursed S. Rey for business automobile-mileage (400 niles at \$0.27 per mile). Decembor 31 5. Moy withdrev $1,100 cash fron the company for personal uso. 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 $650 still available. b. Three months have expired since the 12 -month insurance premium was paid in advance. c. As of December 31, Lyn Addle has not been paid for four days of work at $115 per doy. 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: 1. Prepare journal entries to record each of the December transoctions and events for Business Solutions. 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. 106: Accounts Recelvable

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