The first two photos are the problem and questions. the ones that follow are the Excel files that need to be filled in.

clear and legible when zoomed in.

This assignment has two parts: 1. Review this problem 2. Complete the assignment with the template in Canvas Week 3. Part 1: Problem After the success achieved in the first two months of operations, Business Solutions continues to be managed by Santana Rey. The November 30, 2018, unadjusted trial balance of the company, reflecting its transactions for October and November of 2018, is shown in Figure 1. Figure 1. Unadjusted Trial Balance - November 30, 2018 Credit Debit $38,264 12,618 2,545 2,220 3,300 8,000 20,000 Account Title 101 Cash 106 Accounts Receivable 126 Computer Supplies 128 Prepaid Insurance 131 Prepaid Rent 163 Office Equipment 164 Accumulated Depreciation - Office Equipment 787 Computer Equipment 168 Accumulated Depreciation - Computer Equipment 201 Accounts Payable 210 Wages Payable 236 Unearned Computer Services Revenue 301 S. Rey, Capital 302 S. Rey, Withdrawals 403 Computer Services Revenue 612 Depreciation Expense - Office Equipment 613 Depreciation Expense - Computer Equipment 623 Wages Expense 637 Insurance Expense 640 Rent Expense 652 Computer Supplies Expense 655 Advertising Expense 676 Mileage Expense 677 Miscellaneous Expenses 684 Repair's Expense - Computer $73,000 5,600 25,659 2,625 0 0 1,728 704 250 805 Totals $98,659 $98,659 gure 2 shows the transactions and events Business Solutions had in December 2018 gure 2. Transactions and Events - December 2018 Month, Day Transaction Paid $1,025 cash to Hillside Mall for Business Solutions' share of mall advertising costs 3 10 14 December 2018 15 Paid $500 cash for minor repairs to the company's computer Received $3,950 cash from Alex's Engineering Co. for the receivable from November Paid cash to Lyn Addie for six days of work at the rate of $125 per day Notified by Alex's Engineering Co. that Business Solutions' bid of $7,000 on a proposed project has been accepted. Alex's paid a $1,500 cash advance to Business Solutions Purchased $1,100 of computer supplies on credit from Harris Office Products Sent a reminder to Gomez Co to pay the fee for services recorded on November 8 Completed a project for Liu Corporation and received $5,625 cash Took the week off for the holidays Received $3,000 cash from Gomez Co on its receivable Reimbursed S. Rey for business automobile mileage (600 miles at $0.32 per mile) S. Rey withdrew $1,500 cash from the company for personal use 16 Senta 20 22-26 28 29 31 The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months The December 31 inwentory count of computer supplies shows $580 still available Three months have expired since the 12-month insurance premium was paid in advance As of December 31, Lyn Addie has not bren paid for four days of work at $125 per day. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value Three of the four months prepaid rent has expired. Part 2: Assignment Use the Business Solutions template to complete the assignment. 1. Prepare journal entries to record each of the December transactions and events for Business Solutions Post those entries to the accounts in the ledger 2 Prepare adjusting entries to reflect a through t Post those entries to the accounts in the ledger 3. Prepare an adjusted trial balance as of December 31, 2018 Prepare an income statement for the three months ended December 31, 2018 5. Prepare a statement of owner's equity for the three months ended December 31, 2018 6. Prepare a balance sheet as of December 31, 2018 1 Date Account 1212 COEFL DR CR 1213 12/15 1220 12128 9882883 12129 12/31 Adjustment 34 652 Computer Supplies Expense 126 Computer Supplies 37b 637 Insurance Expense 128 Prepaid Insurance 40 C 623 Wages Expense 210 Wages Payable d 613 Depr. Expense - Comp. Equitt 168 Accum. Deprec-Comp Equip 612 Depr. Expense - Office Equip 164 Accum. Deprec - Office Equipment 640 Rent Expense 131 Pre Paid Rent 12714 12/28 12210 Balance 38.26 106 Accounts Receivables 12,618 1274 0 12/28 0 w Balance 12.610 126 Computer Supplies 2,545 12/15 226 Unearned Come Sery Revenue Balance Balance 2.545 128 Prepaid Insurance 2.220 301 S Res-Capital 555 Advertising Epe 1212 Balance 2.220 Balance 73,000 Balance 1728 302 S Reg. Withdrawals 676 Mileage espens 131 Pre Paid Rent 3.300 12/31 12/29 * Balance 3.300 Balance 5.600 1630ffice Equipment 8.000 403 Computer Services Revenge 25,653 12/20 000 RSS es - Office Equipe 612. Depe Eupense - Office Equip 184 Repaispense.Com Balance 805 167 Computer Lupinent 20.000 613 Depe Espense Comp Equip Balance 20,000 EINSCEEZE 68 Assam. Deples Compagui 623 Vages Expens 12710 Balance AutoSave om H S File Home Insert Draw Page Layout Formulas Data Review View Help 117xf C D E F G H Trial Balance December 31, 2018 Adjusted Unadjusted Adjusted Trial Balance Debit Credit Debit Credit Debit Credit 101 Cash 38,264 38,264 106 Accounts Receivables 12,618 12,618 126 Computer Supplies 2,545 0 2,545 128 Prepaid Insurance 2,220 0 2,220 131 Pre Paid Rent 3,300 3,300 163 Office Equipment 8,000 8,000 164 Accum. Deprec - Office Equipment 167 Computer Equipment 20,000 20,000 168 Accum. Deprec - Comp Equip 201 Accounts Payable 210 Wages Payable 236 Unearned Comp Serv Revenue 301 S Rey - Capital 73,000 73,000 302 S Rey - Withdrawals 5,600 5,600 403 Computer Services Revenue 25,659 25,659 612 Depr. Expense - Office Equi 0 613 Depr. Expense - Comp. Equ 623 Wages Expense 2,625 637 Insurance Expense 640 Rent Expense 652 Computer Supplies Expens 655 Advertising Expense 1,728 1,728 676 Milleage expense 704 704 677 Misc Expense 250 250 684 Repairs Expense - Comp 805 805 98,659 98,659 30 0 98,659 98,659 2,625 oooooo K6-20 B C D Balance Sheet December 31, 2018 Statement of Owners Equity December 31, 2018 Income Statement December 31, 2018 3 Assets Nino 38,264 301 S Rey - Capital Net Income 73,000 19,547 Revenues 92,547 403 Computer Services Revenue 25,659 302 S Rey - Withdrawals 5 101 Cash 6 106 Accounts Receivables 7 126 Computer Supplies & 128 Prepaid Insurance 9 131 Pre Paid Rent 10 163 Office Equipment 11 164 Accum. Deprec - Office Equipmel 72 167 Computer Equipment 3 168 Accum. Deprec-Comp Equip Expenses 5,600 86,947 8,000 8,000 O O 20,000 0 20,000 86,947 6 Liabilities 612 Depr. Expense - Office Equi 613 Depr. Expense - Comp. Equ 623 Wages Expense 637 Insurance Expense 640 Rent Expense 652 Computer Supplies Expense 655 Advertising Expense 676 Milleage expense 677 Misc Expense 684 Repairs Expense - Comp Total Expenses Net Income 3201 Accounts Payable 9 210 Wages Payable 236 Unearned Comp Serv Revenue 19,547 | Equity 301 S Rey - Capital 86,947 86,947