Question

[The following information applies to the questions displayed below.]

Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts.


In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1 / 10, n / 30, FOB shipping point, to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119,413,414,415, and 502 ) are added to its general ledger to accommodate the company's new merchandising activities. Its transactions for January through March follow:

The following information applies to the questions displayed below.) Santana Rey created Business Solutions on October 1, 201In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of

Mar 09 3,22 Cash Accounts receivable-Delta Co. စစ T 3,220 29 Mar 11 GEO Repairs expense-Computer Cash စ GEO 30 Mar 16 5,260 W14 Jan 26 9,000 Merchandise inventory Accounts payable 9,000 Jan 26 Accounts receivable-KC, Inc. Sales 5,800 5,800 Jan 26 4,61. Prepare journal entries to record each of the January through March transactions. Answer is complete and correct. No Gener101 Cash Debit Credit Answer is complete and correct. 106.1 Accounts Receivable—Alexs Engineering Co. Date Debit Credit Bala652 Computer Supplies Expense Debit Credit Date Balance Date Feb. 05 655 Advertising Expense Debit Credit 600 600 Balance 600318 Retained Earnings Debit Credit Date Date Dec. 31 Balance 7,360 319 Dividends Debit Credit 4,800 Balance 4,800 Feb. 15 ✓ D126 Computer Supplies Debit Credit Date Dec. 31 Jan. 07 Jan. 137 Jan. 15 Date Dec. 31 Mar. 08 Balance 580 3,310 2,730 Jan. 17Answer is not complete. BUSINESS SOLUTIONS Partial Work Sheet March 31, 2020 Unadjusted Trial Balance Dr. Cr. 68,057 Adjustme6. Prepare a classified balance sheet (from the adjusted trial balance) as of March 31, 2020. % Answer is complete but not enX Answer is not complete. Complete this question by entering your answers in the tabs below. Required 4A Required 4B PrepareAnswer is not complete. Complete this question by entering your answers in the tabs below. Required 4A Required 4B Prepare an


2 1
Add a comment Improve this question Transcribed image text
✔ Recommended Answer
Answer #1

Business Solutions As of Mar 31, 2020 Unadjusted TB Debit Credit 68,057 As of Mar 31, 2020 Adjustments Debit Credit As of Mar44,547 (500) (47) 44,000 14,052 29,948 Business Solutions Multi-step Income Statement For three months ended March 31, 2020 GBusiness Solutions Balance Sheet As of March 31, 2020 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Co

Add a comment
Know the answer?
Add Answer to:
The following information applies to the questions displayed below.) Santana Rey created Business Solutions on October...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
  •   Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and...

    Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and Its IIst of customers has grown. To accommodate the growth, the accounting system Is modlfied to set up separate accounts for each customer. The following chart of accounts Includes the account number used for each account and any balance as of December 31, 2019. Santana Rey declded to add a fourth digit with a decimal point to the 106 account number that had been used...

  • Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions...

    Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2017. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2017. Santana Rey decided to add a fourth digit with a...

  • Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions...

    Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2017. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2017. Santana Rey decided to add a fourth digit with a...

  • Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions...

    Required information [The following information applies to the questions displayed below.] Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a...

  • Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its...

    Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used...

  • Santana Rey created Business Solutions on October 1, 2019. The company has been successful and its...

    Santana Rey created Business Solutions on October 1, 2019. The company has been successful and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used...

  • Part 3 -Becoming a Merchandiser (94 points) -Santana Rey created Business Solutions on October 1, 2018....

    Part 3 -Becoming a Merchandiser (94 points) -Santana Rey created Business Solutions on October 1, 2018. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2018. Santana Rey decided to add a fourth digit with a decimal point to the...

  • Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its...

    Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used...

  • Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its...

    Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts Includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used...

  • in Chapter I and continues through most of the book. If previous chapaer seg S SERIAL...

    in Chapter I and continues through most of the book. If previous chapaer seg S SERIAL PROBLEM Business Solutions P1 P2 P3 P4 erisl Pt compleoed, the serial problem can begin ar this point.) ated Business Solutions on October 1, 2017. The company has been successful. To accommodate the growth, the accounting system is modified to set custoner ' hcustomer. The following chart of accounts ncludes the account number used has grown. ccoanis balance as of December 31, 2017. Santana...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
Active Questions
ADVERTISEMENT