EUMULATIVE PROBLEM - Aster Systems On October 1, 2017 Aster Turand organized a computer service company called Aster stems. Acter is organised as a sole proprietorship and will provide consulting services, computer istem installations, and custom program development. Aster Systems has adopted the calendar year er reporting, and expects to prepare the company's first set of financial statements as of ict. 31, 2017. The initial chart of accounts for the accounting system includes these items: ECCORD 101 106 126 128 131 163 167 170 201 301 bccount Nand Cach Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accumulated Depreciation Accounts Payable Acter Turane, Capital Accoes Account Mans 302 Aster Turone, Withdrawals 403 Computer Services Revenue 623 Wages Expense 625 Rent Expense 626 Insurance Expence 655 Advertising Expense 676 Mileage Expense 684 Repairs Expense, Computer 688 Deprecistion Expense 698 Charitable Donations Expense Require: Please anweer all MCQ based on the following business transactions Please do all adjustment entries before you awer your MCQ questions, The expected useful life of computer system and office equipment are 5 years. There is no tridualselv for all equipments Please use the straight-line whethod for the depreciation Oct. 1 Aster Turane invested $45,000 cach, a $13,200 computer system, and $15,000 of office equipment in the business 2 Paid six month of rent in advance: $12,000 3 Purchased computer supplies on credit for $1.375 from Triple-Onc Supplies 5 Paid $8,640 cash for one year's premium on a property and liability insurance policy 6 Billed Norton Electric $6,300 for installing a new computer system. 8 Paid for the computer supplies purchased from Triple-One Supplies 10 Hired Donald Gec as a part-time assistant for $345 per day as needed. 12 Billed Norton Electric another $1,850 for computer ocrvices rendered 15 Received $1,650 from Norton Electric on ito account 17 Paid $375 to repair equipment damaged when moving into the new office 20 Paid $1,950 for advertisement in the local newspaper. 22 Received the balance owing from Norton Electric on its account. 28 Billed Whistler Resort $3,400 for services. 31 Paid Donald Gee for nine days' work. 31 kster Turane withdrew $1,200 coch from the business for personal use. What is the balance of the computer supplies account at the month end? O 1675 O 1975 1875 1775 to How much is the repairs expense is this month? O 350 O 750 O 760 O 375 27 What is the balance of total fixed assets at the month end? 0 34630 O 33630 31630 0 32630 What is the balance of total fixed assets at the month end? O 34630 O 33630 031630 32630 What is the balance of total liabilities and equity at the month end? O 80240 82700 83700 O 86830 What is the balance of the total assets at the month end? 86830 O 83700 O 85700 O 82700 How much is the computer service revenue is this month? 14550 013550 12550 O 17550 How much is the net income is this month? 9400 8830 8400 08900 How much is the wage expense is this month? O 5040 0 3105 O 13550 O 65960 What is the balance of the cash account at the month end? 23905 0 24905 21905 18925 What is the balance of the prepaid insurance account at the month end? 0 7920 O 8640 7640 7600 What is the balance of total current assets at the month end? 0 53200 O 55200 O 48900 0 48200 How much is the advertising expense is this month? 1850 O 1900 1950 O 1800 What is the balance of the accounts receivable at the month end? O 8400 0 7400 O 9400 O 6400 How much is the total expense is this month? 8250 O 8650 08720 0 7950 What is the net value of the office equimpent account at the month end? 15000 13750 O 14750 12800 What is the balance of the prepaid rent account at the month end? O 10000 8000 0 24000 O 12000