The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows.

Number	Account Title	Debit	Credit
101	Cash	$ 52,216
106	Accounts receivable	5,168
126	Computer supplies	650
128	Prepaid insurance	1,530
131	Prepaid rent	785
163	Office equipment	8,700
164	Accumulated depreciationOffice equipment		$ 435
167	Computer equipment	21,200
168	Accumulated depreciationComputer equipment		1,325
201	Accounts payable		2,100
210	Wages payable		460
236	Unearned computer services revenue		2,400
301	S. Rey, Capital		63,000
302	S. Rey, Withdrawals	7,400
403	Computer services revenue		45,274
612	Depreciation expenseOffice equipment	435
613	Depreciation expenseComputer equipment	1,325
623	Wages expense	3,725
637	Insurance expense	510
640	Rent expense	2,355
652	Computer supplies expense	3,995
655	Advertising expense	2,693
676	Mileage expense	812
677	Miscellaneous expenses	220
684	Repairs expenseComputer	1,275
901	Income summary		0
	Totals	$ 114,994	$ 114,994

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 $63,000 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.

Preparing an adjusted trial balance as of December 31, 2021.

Business Solutions

Business Solutions Adjusted Trial balance for the year ended December 31, 2021
No.	Account Title	Debit	Credit
101	Cash	51714
106	Accounts Receivable	5068
126	Computer supplies	600
128	Prepaid insurance	1575
131	Prepaid rent	810
163	Office Equipment	8300
164	Accumulated depreciation - Office Equipment		415
167	Computer Equipment	23200
168	Accumulated depreciation - Computer Equipment		1450
201	Accounts payable		1200
210	Wages payable		500
236	Unearned computer service revenue		2300
301	S. Rey, Capital		66000
302	S. Rey, Withdrawals	7600
403	Computer service revenue		43349
612	Depreciation expense - Office Equipment	415
613	Depreciation expense - Computer Equipment	1450
623	Wages expense	3450
637	Insurance expense	525
640	Rent expense	2430
652	Computer Supplies Expense	3245
655	Advertising expense	2668
676	Mileage Expense	759
677	Miscellaneous expenses	190
684	Repairs Expense - Computer	1215
	Total	115214	115214

Adjusted Trial balance

for the year ended December 31, 2021

Explanation:

This trial balance has been prepared at December 31, 2021 using the ending balance of each account. Total of debits and credits are equal in the adjusted trial balance.

Final answer

Total of debits and credits in the Adjusted trial balance of Business solutions at December 31, 2021 = $115,214