Question

This assignment has two parts: 1. Review this problem 2. Complete the assignment with the template in Canvas Week 3. Part 1: Problem After the success achieved in the first two months of operations, Business Solutions continues to be managed by Santana Rey. The November 30, 2018, unadjusted trial balance of the company, reflecting its transactions for October and November of 2018, is shown in Figure 1. Figure 1. Unadjusted Trial Balance - November 30, 2018 Credit Debit $38,264 12,618 2,545 2,220 3,300 8,000 20,000 Account Title 101 Cash 106 Accounts Receivable 126 Computer Supplies 128 Prepaid Insurance 131 Prepaid Rent 163 Office Equipment 164 Accumulated Depreciation - Office Equipment 787 Computer Equipment 168 Accumulated Depreciation - Computer Equipment 201 Accounts Payable 210 Wages Payable 236 Unearned Computer Services Revenue 301 S. Rey, Capital 302 S. Rey, Withdrawals 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 Repair's Expense - Computer $73,000 5,600 25,659 2,625 0 0 1,728 704 250 805

The first two photos are the problem and questions. the ones that follow are the Excel files that need to be filled in.

clear and legible when zoomed in.

Answer 1

Ans; Part-2 Assignment (1) Journal entry for December month Date Description Debit Post Ref. Credit I ($) 1025 101 1095 0312718 500 101 500 101 3950 3950 106 750 02/12/18 Advertising Expense (E) 655 Cash (A) (Payment of share of mall adver- - tising Repair Expense - Computer ( 03/12/18 684 Cash CAA (Repaired computer by paying cash) 04/12/18 I Cash (A+) Accounts Receivable (A-) (cash received on account) 10/12/18 Wages Expense (E-) 623 Cash (A-) (payment of wages for part-1 time work) 14/12/18 Cash (A+) Unearned Computer Service Revenue (L+) (cash received for provided I service in advance) 15/12/18 | Computer supplies (At) | 126 Accounts payable (Lt) (purchase of supplies on account -750 101 1500 1500 1,100 201 1100 16/12/18 No transaction, So No entry to be recorded

Post Debit Ref Credit lo 5625 403 5,695 101 3,000 Date Description 20/12/18 | Cash (A+) Computer service revenue (Et) Creceived cash for service) 28/12/18 Cash (A+) Accounts Receivable (A-) Ccash received on account) 29/12/18 Mileage Expense (E-) Cash (A-) (Reimbursed Rey for mileage) 31/12/18 Dividends (E-) Cash (A-) 106 3,000 676 192 10/ 192 319 1,500 1,560 (payment of dividends by cash)

This is journal entry for December month transactions.