.A Normal No Spacing Headng 1 Heading 2 After the success of the company\'s firs
ID: 2512872 • Letter: #
Question
.A Normal No Spacing Headng 1 Heading 2 After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2017, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2017) follows. Debit Credit 101 Cash 106 Accounts receivable 126 Computer supplies 128 Prepaid insurance 131 Prepald rent 163 Office equipment 39,264 13,318 2,645 2,100 2,980 8,100 164 Accumulated depreciation Office equipment 167 Computer equipment 168 Accumvulated depreciation-Computer equipment 201 Accounts payable 210 Wages payable 236 Unearned computer services revenae 307 Common 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 23,200 67,000 6,200 36,199 2,125 1,638 Totals 103199 $103,199 Business Solutions had the following transactions and events in December 2017 Dec. 2 Paid $995 cash to Hillside Mall for Business Solutions' share of mall advertising 3Pald $440 cash for minor repairs to the company's computer. Received S4,350 cash from Alex's Engineering Ca. for the receivable from 10 Paid cash to Lyn Addie for six days of work at the rate of $120 per day 8 4 5 6 8 9 0Explanation / Answer
1. In the books of Business Solutions :
2 a. Adjusting Entries:
3. Business Solutions
Adjusted Trial Balance
December 31, 2017
4. Business Solutions
Income Statement
For the three months ended December 31, 2017
5. Business Solutions
Statement of Retained Earnings
For the period ended December 31, 2017
6. Business Solutions
Balance Sheet
December 31, 2017
Date General Journal Debit Credit $ $ Dec 1 Advertising Expense 995 Cash 995 Dec 3 Repairs Expense: Computer 440 Cash 440 Dec 4 Cash 4,350 Accounts Receivable 4,350 Dec 10 Wages Expense 720 Cash 720 Dec 14 Cash 1,900 Unearned Computer Service Revenue 1,900 Dec 15 Computer Supplies 1,600 Accounts Payable 1,600 Dec 16 No journal entry required Dec 20 Cash 5,675 Computer Services Revenue 5,675 Dec 28 Cash 3,600 Accounts Receivable 3,600 Dec 29 Mileage Expense 92 Cash 92 Dec 31 Dividends 1,200 Cash 1,200Related Questions
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