Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 1 After the success of the company's first two months, Santana Rey continues to operate Business Solutions

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Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 1 After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions reflecting its transactions for October and November of 2019) follows. 10 point Debit Credit $ 39,164 12,618 2,545 2,100 3,300 8,000 $ 21,200 168 No. Account Title 101 Cash 106 Accounts receivable 126 Computer supplies 128 Prepaid insurance 131 Prepaid rent 163 Office equipment Accumulated depreciation Office 164 equipment 167 Computer equipment Accumulate depreciation Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenue 387 Connon stock 318 Retained earnings 319 Dividends 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 Repairs expense-Computer Totals 70,000 5,600 30,234 @ 2,350 e 1,698 694 240 725 $18, 234 $180,234 Business Solutions had the following transactions and events in December 2010 Dec. 2 Paid $1,020 cash to Hillside Mall for Business Solutions' share of wall advertising costs. 2 Paid 5470 cash for minor repairs to the company's computer. 4 Received $4,650 cash from Alex's Engineering Co. for the receivable from Novenber. 10 Paid cash to Lyn Addie for six days of work at the rate of $110 per day. 14 Notified by Alex's Engineering Co. that Business Solutions bid of $7,790 on a proposed project has been accepted. Alex's paid a $1,800 cash advance to Business Solutions. 15 Purchased $1,600 of computer supplies on credit from Harris Office Products 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. 20 Completed a project for Liu Corporation and received $6,275 cash. 22- Took the week off for the holidays. 26 28 Received $3,700 cash from Gomez Co. on its receivable. 29 Reimbursed S. Rey for business automobile aleage (500 miles at $2.23 per sile). 31 The company paid $1,000 cash in dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a. The December 31 inventory count of computer supplies shows $620 still available b. Three months have expired since the 12 month insurance premium was paid in advance c. As of December 31, Lyn Addie has not been paid for four days of work at $110 per day. d. The computer system, acquired on October 1 is expected to have a four-year life with no salvage value e. The office equipment acquired on October 1 is expected to have a five-year we with no salvage value 1. Three of the four months prepaid rent have expired.
Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions 2-a. Prepare adjusting entries to reflect through 2b. Post the journal entries to record each of the December transactions from Requirement and adjusting entries from Requirement 2A. After completing Requirement 7 post the closing entries to the general ledger accounts. 3. Prepare an adjusted trial balance as of December 31, 2019 4. Prepare an income statement for the three months ended December 31, 2010 5. Prepare a statement of retained earings for the three months ended December 31, 2019. 6. Prepare a balance sheet as of December 31, 2019. 7. Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 28 8. Prepare a post-closing trial balance as of December 31, 2019. Complete this question by entering your answers in the tabs below. Reg1 21 Reg 28 Ree Reg4 RAG Req Rega Post the journal entries to record each of the December transactions from Requirement and adjusting entries from Requirement 2. Aer completing Requirement 7. post the closing entries to the general ledger accounts. t?i canh Date Debit Credit 10. Accounts Receivable Debit Credit Dec 01 Dale Dec 01 Balance 12.10 Dec 31 126: Computer Supplies De Credit Date Dec 01 Balance 128: Prepaid insurance Dobit Credit Date Dec Balance 2.100 Date Dec 01 131: Prepad Rent Debat Credit 163: Omce Equipment Det Credit Balance 3,300 Det 01 3.000 1.4: Acad Depreciation Omce Equipment Dale Dett Credit Dec 01 167: Computer Equipment Dobi Credit ol Date Des 01 21.200 18: Accumulated Depreciation Computer Equipment Date Dobil Credit Balance Dec 01 201: Account Paya Debit Credit Date Dec 01 Banco 210 Wages Payne 236: Uneamed computer Services Revue
210: Waga Payable Det Credit Date Batanco 236: Uneared Computer Services Rovence Date Debit Croce Datace Dec 01 Dec 01 307: Comnen slock Debit 313: Retained Earnings Debat Credit Credit Balance Balance 70.000 Dec 01 Date Dec. 1 g 313: Dividende Crede Daha 40: Computer Service Ravenue Debit Credit Balance 5.600 Dec 1 Date Dec 01 Balance 30 24 12 Depreciation Exponos once Equipment Date Dett Crect Balance Dec. 01 613 Depreciation Expense Computer Equipment Date Det Credit Balance Dec 01 # wagoa Deporte Dehit Date Crec Balance 2.350 Date Dec 01 637. Berance Expense Dit Crede Balance 1: Ron Expo Dent Dale Dec 01 Credit est: Computer Supplies Expense Debit Credit ol Date Dec 01 Duo Cott 576 Mange Expanee Det Cred Date Dec 01 Dec 01 094 CIF: Encu Depose Doart Cream Data 64. Nepair Expo Computer Dett 200 Data Dec 01 Bande 201: home Summary Det Crec