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The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. Number Account Title 101 106
The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. Number Account Title 101 106 Cash Accounts receivable 126 Computer supplies Debit Credit $ 48,372 5,668 580 128 Prepaid insurance 1,665 131 Prepaid rent 825 163 Office equipment 8,000 164 Accumulated depreciation-Office equipment $ 400 167 Computer equipment 20,000 168 Accumulated depreciation-Computer equipment 1,250 201 Accounts payable 210 Wages payable 1,100 500 236 Unearned computer services revenue 1,500 301 S. Rey, Capital 73,000 382 S. Rey, Withdrawals 7,100 403 Computer services revenue 31,284 612 Depreciation expense-Office equipment 400 613 Depreciation expense-Computer equipment 1,250 623 Wages expense 3,875 637 Insurance expense 555 640 Rent expense 2,475 652 Computer supplies expense 3,065 655 Advertising expense 2,753 676 Mileage expense 896 677 Miscellaneous expenses 250 684 Repairs expense-Computer 1,305 901 Income summary Totals 0 $ 109,034 $ 109,034 Required: 1. Prepare an income statement for the three months ended December 31, 2021 2. Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint The S. Rey, Capital account balance was $0 on October 1, and owner investments were $73,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement for the three months ended December 31, 2021. BUSINESS SOLUTIONS Income Statement For Three Months Ended December 31, 2021 Revenue Expenses Total expenses Required 2 > Required: 1. Prepare an income statement for the three months ended December 31, 2021. 2. Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint The S. Rey, Capital account balance was $0 on October 1, and owner investments were $73,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint: The 5. Rey, Capital account balance was $0 on October 1, and owner Investments were $73,000 this period. BUSINESS SOLUTIONS Statement of Owner's Equity For Three Months Ended December 31, 2021 S. Rey, Capital, October 1, 2021 S. Rey, Capital, December 31, 2021 Prepare a classified balance sheet as of December 31, 2021. BUSINESS SOLUTIONS Balance Sheet December 31, 2021 Current assets Plant assets Assets Liabilities Current liabilities Equity Total liabilities and equity < Required 2
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