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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
The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. Number Account Title 101 Cash Debit $ 52,214 Credit 106 Accounts receivable 4,868 126 Computer supplies 640 128 Prepaid insurance 1,440 131 163 Prepaid rent 730 Office equipment 8,700 164 Accumulated depreciation-office equipment $ 435 167 Computer equipment 22,800 168 Accumulated depreciation-Computer equipment 1,425 201 Accounts payable 2,000 210 Wages payable 500 236 Unearned computer services revenue 2,300 301 S. Rey, Capital 66,000 302 S. Rey, Withdrawals 7,000 403 Computer services revenue 42,539 612 Depreciation expense-Office equipment 435 613 Depreciation expense-Computer equipment 1,425 623 Wages expense 3,400 637 Insurance expense 480 640 Rent expense 2,190 652 Computer supplies expense 4,005 655 Advertising expense 2,658 676 Mileage expense 839 677 Miscellaneous expenses 210 684 Repairs expense-Computer 1,165 901 Income summary Totals $ 115,199 $ 115,199 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 $66,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021. 4. Record the closing entries as of December 31, 2021. 5. Prepare a post-closing trial balance as of December 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare an income statement for the three months ended December 31, 2021. Revenue BUSINESS SOLUTIONS Income Statement For Three Months Ended December 31, 2021 Expenses
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