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0 After the success of the company's first two months, Santana Rey continues to operi unadjusted trial balance of Business Solutions (reflecting its transactions for October 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 $7,400 accepted. Alex's paid a $1,800 cash advance to Business Solutions. No. Account Title Debit Credit 15 Purchased $1,600 of computer supplies on credit from Harris Office Products 101 Cash $ 39,164 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on Novem 106 Accounts receivable 12,918 20 Completed a project for Liu Corporation and received $6,475 cash. 126 Computer supplies 2,645 22- Took the week off for the holidays. 128 Prepaid insurance 2,160 26 131 Prepaid rent 3,120 28 Received $3,200 cash from Gomez Co. on its receivable. 163 Office equipment 9,000 29 Reimbursed s. Rey for business automobile mileage (600 miles at $0.25 per 164 Accumulated depreciation office equipment 31 The company paid $1,100 cash in dividends. $ 167 Computer equipment 20,000 168 Accumulated depreciation-Computer equipment 0 201 The following additional facts are collected for use in making adjusting entries prior to prepa Accounts payable 0 210 Wages payable company's first three months: 0 236 Unearned computer services revenue 0 307 Common stock 66,000 318 Retained earnings a. The December 31 inventory count of computer supplies shows $640 still available. 0 319 Dividends 6,400 b. Three months have expired since the 12-month insurance premium was paid in advance. 403 Computer services revenue 34,989 c. As of December 31, Lyn Addie has not been paid for four days of work at $110 per day. 612 Depreciation expense-office equipment 0 d. The computer system, acquired on October 1, is expected to have a four-year life with no 613 Depreciation expense-Computer equipment 0 e. The office equipment, acquired on October 1, is expected to have a five-year life with no s 623 Wages expense 2,275 f. Three of the four months' prepaid rent have expired. 637 Insurance expense 0 640 Rent expense 0 652 Computer supplies expense 0 Required: 655 Advertising expense 1,688 1. Prepare journal entries to record each of the December transactions and events for Busine 676 Mileage expense 654 2-a. Prepare adjusting entries to reflect a through f. 677 Miscellaneous expenses 190 2-b. Post the journal entries to record each of the December transactions, adjusting entries to 684 Repairs expense-Computer 775 3. Prepare an adjusted trial balance as of December 31, 2018. Totals $100,989 $100,989 4. Prepare an income statement for the three months ended December 31, 2018. 5. Prepare a statement of retained earnings for the three months ended December 31, 2018. 6. Prepare a balance sheet as of December 31, 2018. Business Solutions had the following transactions and events in December 2018. 7. Record and post the necessary closing entries as of December 31, 2018. 8. Prepare a post-closing trial balance as of December 31, 2018. ec. 2 Paid $995 cash to Hillside Mall for Business Solutions' share of ma 3 Paid $460 cash for minor repairs to the company's computer. Complete this question by entering your answers in the tabs below. 4 Received $4,050 cash from Alex's Engineering Co. for the receivable ss Solutions had the following transactions and events in December 2018. 2 Paid $995 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $460 cash for minor repairs to the company's computer. 4 Received $4,050 cash from Alex's Engineering Co. for the receivable from November. 0 Paid cash to Lyn Addie for six days of work at the rate of $110 per day. 4 Notified by Alex's Engineering Co. that Business Solutions' bid of $7,400 on a proposed projec accepted. Alex's paid a $1,800 cash advance to Business Solutions. 5 Purchased $1,600 of computer supplies on credit from Harris Office Products. 6 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. 0 Completed a project for Liu Corporation and received $6,475 cash. - Took the week off for the holidays. 6 8 Received $3,200 cash from Gomez Co. on its receivable. 9 Reimbursed s. Rey for business automobile mileage (600 miles at $0.25 per mile). 1 The company paid $1,100 cash in dividends. lowing additional facts are collected for use in making adjusting entries prior to preparing financial statemer ny's first three months: 0 After the success of the company's first two months, Santana Rey continues to operi unadjusted trial balance of Business Solutions (reflecting its transactions for October 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 $7,400 accepted. Alex's paid a $1,800 cash advance to Business Solutions. No. Account Title Debit Credit 15 Purchased $1,600 of computer supplies on credit from Harris Office Products 101 Cash $ 39,164 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on Novem 106 Accounts receivable 12,918 20 Completed a project for Liu Corporation and received $6,475 cash. 126 Computer supplies 2,645 22- Took the week off for the holidays. 128 Prepaid insurance 2,160 26 131 Prepaid rent 3,120 28 Received $3,200 cash from Gomez Co. on its receivable. 163 Office equipment 9,000 29 Reimbursed s. Rey for business automobile mileage (600 miles at $0.25 per 164 Accumulated depreciation office equipment 31 The company paid $1,100 cash in dividends. $ 167 Computer equipment 20,000 168 Accumulated depreciation-Computer equipment 0 201 The following additional facts are collected for use in making adjusting entries prior to prepa Accounts payable 0 210 Wages payable company's first three months: 0 236 Unearned computer services revenue 0 307 Common stock 66,000 318 Retained earnings a. The December 31 inventory count of computer supplies shows $640 still available. 0 319 Dividends 6,400 b. Three months have expired since the 12-month insurance premium was paid in advance. 403 Computer services revenue 34,989 c. As of December 31, Lyn Addie has not been paid for four days of work at $110 per day. 612 Depreciation expense-office equipment 0 d. The computer system, acquired on October 1, is expected to have a four-year life with no 613 Depreciation expense-Computer equipment 0 e. The office equipment, acquired on October 1, is expected to have a five-year life with no s 623 Wages expense 2,275 f. Three of the four months' prepaid rent have expired. 637 Insurance expense 0 640 Rent expense 0 652 Computer supplies expense 0 Required: 655 Advertising expense 1,688 1. Prepare journal entries to record each of the December transactions and events for Busine 676 Mileage expense 654 2-a. Prepare adjusting entries to reflect a through f. 677 Miscellaneous expenses 190 2-b. Post the journal entries to record each of the December transactions, adjusting entries to 684 Repairs expense-Computer 775 3. Prepare an adjusted trial balance as of December 31, 2018. Totals $100,989 $100,989 4. Prepare an income statement for the three months ended December 31, 2018. 5. Prepare a statement of retained earnings for the three months ended December 31, 2018. 6. Prepare a balance sheet as of December 31, 2018. Business Solutions had the following transactions and events in December 2018. 7. Record and post the necessary closing entries as of December 31, 2018. 8. Prepare a post-closing trial balance as of December 31, 2018. ec. 2 Paid $995 cash to Hillside Mall for Business Solutions' share of ma 3 Paid $460 cash for minor repairs to the company's computer. Complete this question by entering your answers in the tabs below. 4 Received $4,050 cash from Alex's Engineering Co. for the receivable ss Solutions had the following transactions and events in December 2018. 2 Paid $995 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $460 cash for minor repairs to the company's computer. 4 Received $4,050 cash from Alex's Engineering Co. for the receivable from November. 0 Paid cash to Lyn Addie for six days of work at the rate of $110 per day. 4 Notified by Alex's Engineering Co. that Business Solutions' bid of $7,400 on a proposed projec accepted. Alex's paid a $1,800 cash advance to Business Solutions. 5 Purchased $1,600 of computer supplies on credit from Harris Office Products. 6 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. 0 Completed a project for Liu Corporation and received $6,475 cash. - Took the week off for the holidays. 6 8 Received $3,200 cash from Gomez Co. on its receivable. 9 Reimbursed s. Rey for business automobile mileage (600 miles at $0.25 per mile). 1 The company paid $1,100 cash in dividends. lowing additional facts are collected for use in making adjusting entries prior to preparing financial statemer ny's first three months

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