Question

I uploaded this question once already and got no answer so I would really appreciate it someone answered this bc I pay for this service. Thanks.

i need all of it to check my work however im stuck figuring out the numbers for office equipment and computer equipment

Answer 1

Business Solutions Journal Enteries Date Particulars 2.12.2019 Advertising expense a/c Dr. To Cash (Being Advertising expense paid in Cash) Debit in $Credit in $ 950 950 450 3.12.2019 Repairs expense - computer a/c Dr. To Cash (Being Computer repairs incurred in cash) 450 4450 4.12.2019 Cash a/c Dr. To Accounts Receivable (Being Cash received in Debtors) 4450 690 10.12.2019 Wage expense a/c Dr. To Cash (Being Wages paid in Lyn Addie) 690 2500 14.12.2019 Cash a/c Dr. To Unearned Computer service revenue (Being Cash received in advance from clients) 2500 1900 15.12.2019 Computer Supplies a/c Dr. To Accounts Payable (Being Computer Supplies purchased on account) 1900 16.12.2019 No Entry Dr. 20.12.2019 Cash a/c To Computer Services Revenue (Being Cash received for project completed) 5625 3000 28.12.2019 Cash a/c Dr. To Accounts Receivable (Being Cash received from Debtors) 3000 29.12.2019 Mileage expense a/c Dr. To Cash (Being Mileage expense paid in cash) 600*0.32 31.12.2019 Dividends a/c Dr. To Cash (Being Dividends paid in cash) 1000 1000

Adjustment enteries Date Particulars Debit in $Credit in $ 31.12.2019 Computer supplies expense a/c Dr. 3905 To Computer Supplies 3905 2645 +1100-640 (Being Computer Supplies Expense charged to Computer Supplies) 555 555 31.12.2019 Insurance expense a/c Dr. To Prepaid Insurance 2220 * 3/12 (Being Insurance expense charged to Prepaid Insurance) 460 460 31.12.2019 Wage expense a/c Dr. To Wages Payable (Being Wages accrued) 115 x 4 31.12.2019 Depreciation - Computer a/c Dr. To Accumulated Depreciation - Computer 22800 * 3/(4*12) (Being Depreciation charged to Computer Equip.) 1425 1425 425 31.12.2019 Depreciation - office equip a/c Dr. To Accumulated Depreciation - Office Equip 8500 * 3/(5*12) (Being Depreciation charged to Office Equip.) 2325 2325 31.12.2019 Rent expense a/c Dr. To Prepaid Rent 3100 x 3/4 (Being Rent expense charged to Prepaid Rent) Dr. Closing Enteries Date Particulars 31.12.2019 Income Summary a/c To Depreciation - office equip To Depreciation - Computer To Wage expense To Insurance expense To Rent expense To Computer supplies expense To Advertising expense To Mileage expense To Miscellaneous expense To Repairs expense - computer Debit in $Credit in $ 16882 425 1425 3375 555 2325 3905 2628 849 210 1185 Dr. 36914 31.12.2019 Computer Service Revenue a/c To Income Summary 36914 Dr. 20032 31.12.2019 Income Summary a/c To Retained earnings 20032 Dr. 7300 31.12.2019 Retained Earnings a/c To Divdends 7300

Unadjusted Trial Balance As at 31.12.2019 No. Particulars 101 Cash 106 Accounts Receivable 126 Computer Supplies 128 Prepaid Insurance 131 Prepaid Rent 163 Office Equipment 164 Accumulated Depreciation - Off. Equip 167 Computer Equipment 168 Accumulated Depreciation - Computer 201 Accounts Payable 210 Wages Payable 236 Unearned Computer service Revenue 307 Common Stock 318 Retained Earnings 319 Dividends 403 Computer Service Revenue 612 Depreciation - office equip 613 Depreciation - Computer 623 Wage expense 637 Insurance expense 640 Rent expense 652 Computer supplies expense 655 Advertising expense 676 Mileage expense 677 Miscellaneous expense 684 Repairs expense - computer Totals Unadjusted Adjustment Adjusted Post Closing Debit in $ Credit in $ Debit in $ Credit in $ Debit in $ Credit in $ Debit in $ Credit in $ 51394 51394 51394 5668 5668 5668 4545 3905 640 640 2220 555 1665 1665 3100 2325 775 775 8500 8500 8500 425 425 425 22800 22800 22800 1425 1425 1425 1900 1900 1900 460 460 460 2500 2500 2500 72000 72000 72000 12732 7300 7300 36914 36914 0 425 425 1425 1425 460 3375 555 555 2325 3905 3905 2628 2628 849 849 210 210 1185 1185 113314 113314 9095 9095 1 15624 115624 91442 91442 2915 2325

36914 Statement of Income For the period ending 31.12.2019 Computer Service Revenue Less: Depreciation - office equip Depreciation - Computer Wage expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expense Repairs expense - computer Net Income 425 1425 3375 555 2325 3905 2628 849 210 1185 16882 20032 Statement of Retained Earnings For the period ending 31.12.2019 Beginning Balance Net Income S.Rey, Withdrawals 31.12.2019 20032 -7300 12732

Amounts in $ Amounts in $ Balance sheet As at 31.12.2019 Assets Current Assets Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Amounts in $ Amounts in $ Liabilities Current Liabilities 51394 Accounts Payable 5668 Wages Payable 640 Unearned Computer service Revenue 1665 775 60142 1900 460 2500 4860 Shareholders Equity Common Stock 8075 Retained Earnings 72000 12732 84732 Non Current Assets Office Equipment Accumulated Depreciation Computer Equipment Accumulated Depreciation Total Assets 8500 -425 22800 -1425 21375 89592 Total Liabilities & Shareholders Equity 89592