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accounting comprehensive problem. can some one please help. requirements last photo

Accounting 2140 - Comprehensive Problem On October 1, 2019, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2019. After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019. unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. No. 101 Credit 106 Debit $ 38,664 13,018 2,545 1.920 3,140 8,100 21,600 Account Title Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation—Office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Unearned computer services revenue Common stock Retained earnings Dividends Computer services revenue Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense--Computer Totals 126 128 131 163 164 167 168 201 210 236 307 318 319 403 612 613 623 637 640 652 655 676 677 684 68,000 6,100 32,779 2.325 1,708 704 230 725 $100,779 $100,779 Business Solutions had the following transactions and events in December 2019

Answer 1

W X 1 Credit (S) Debit ($) $ 1,010 3 $ 1,010 $ 500 500 $ 4,950 10 $ 4,950 $ 660 Cash $ 660 14 $ 2,100 16 $ 2,100 Journal Entries 2 Date Account Titles 2-Dec |Advertising Expense 4 Cash 5 (To record advertising costs) 6 3-Dec Repairs Expense Cash 8 (To record repairs paid) 9 4-Dec Cash Accounts Receivable 11 (To record cash received from customer) 12 10-Dec Wages Expense 13 (To record wages paid) 15 14-Dec Cash Unearned Service Revenue 17 (To record the cash received in advance) 18 15-Dec Computer Supplies 19 Accounts Payable (To record supplies purchased) 21 16-Dec No Entry 22 20-Dec Cash Service Revenue 24 (To record the service revenue) 25 28-Dec Cash 26 Accounts Receivable 27 (To record cash received from customer) 28 29-Dec Mileage Expense (To record mileage expense paid) 30 31-Dec Dividends 31 Cash (To record dividends paid) $ 2,000 $ 2,000 20 $ 6,575 23 $ 6,575 $ 3,600 $ 3,600 $ 192 29 $ 1,200 $ 1,200 32

Z AB AC AD 1 2 Date a. Debit ($) Credit ($) $ 3,885 $ 3,885 b. $ 480 $ 480 8 c. $ 440 10 11 AA I Adjusting Journal Entries Account Titles Computer Supplies Expense Computer Supplies (To record supplies expense) Insurance Expense Prepaid Insurance (To record insurance expense) Wages Expense Wages Payable (To record wages accrued) Depreciation Expense - Office Equipment Accumulated Depreciation - Office Equipment (To record depreciation Expense) Depreciation Expense - Computer Equipment Accumulated Depreciation - Computer Equipment (To record depreciation Expense) Rent Expense Prepaid Rent (To record rent expense) 12 d. $ 506 14 $ 1,080 $ 1,080 f. $ 2,355 19 $ 2,355 21

AF ALAJ 1 2 Date Credit ($) Debit ($) $ 39,354 $ 39,354 5 6 $ 16,800 7 $ $ 8 $ $ 10 11 12 13 AG AH Closing Journal Entries Account Titles Service Revenue Income Summary (To close revenue accounts Income Summary Depreciation expense - Office Equipment Depreciation expense - Computer Equipment Wages Expense Insurance Expense Rent Expense Computer supplies Expense Advertising Expense Mileage expense Miscellaneous expenses Repairs expense - Computer |(To close expense accounts) Income Summary Retained Earnings (To close net income) Retained Earnings Dividends (To close dividends accounts) 506 1,080 3,425 480 2,355 3,885 2,718 896 14 15 230 16 $ 1,225 17 18 $ 22,554 19 $ 22,554 20 4 $ 7,300 21 22 23 $ 7,300

А E F Adjustments Debit ($) Credit ($) 2 3 4. C D Unadjusted T/B Debit ($) Credit ($) $ 52,327 $ 4,468 $ 4,545 $ 1,920 $ 3,140 $ 8,100 5 6 $ $ $ 3,885 480 2,355 7 8 9 $ $ 506 $ 1,080 10 11 12 13 14 15 16 $ 440 Account Account Titles No. 101 Cash 106 Accounts Receivable 126 Computer Supplies 128 Prepaid Insurance 131 Prepaid Rent 163 Office Equipment 164 Accumulated Depreciation - Office Equipment 167 Computer Equipment 168 Accumulated Depreciation - Computer Equipment 201 Accounts Payable 210 Wages Payable 236 Unearned Computer Services Revenue 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 Total G H I Adjusted T/B Post Closing T/B Debit ($) Credit ($) | Debit ($) Credit ($) $ 52,327 $ 52,327 $ 4,468 $ 4,468 $ 660 $ 660 $ 1,440 $ 1,440 $ 785 $ 785 $ 8,100 $ 8,100 $ 506 506 $ 21,600 $ 21,600 $ 1,080 $ 1,080 $ 2,000 $ 2.000 $ 440 $ 440 $ 2,100 $ 2,100 $ 68,000 $ 68,000 $ 15,254 $ 7,300 $ 39,354 $ 506 $ 1,080 $ 3,425 $ 480 $ 2,355 $ 3,885 $ 2,718 $ 896 $ 230 $ 1,225 $113,480 $113,480 $ 89,380 $ 89,380 $ 21,600 $ - $ 2,000 $ . $ 2,100 $ 68,000 $ - $ 7,300 $ 39,354 $ - $ 506 $ 1,080 $ 2,985 $ 440 $ 480 $ . $ 2,355 $ - $ 3,885 $ 2,718 $ 896 $ 230 $ 1.225 $111,454 $111,454 $ 8,746 18 19 20 21 22 23 24 26 27 29 $ 8,746

N O R 1 $39,354 $59,680 M Income Statement for the quarter ended December 31 3 Computer Services Revenue 4 Less: Expenses 5 Depreciation expense - Office Equipment $ 506 6 Depreciation expense - Computer Equipment | $1,080 7 Wages Expense $3,425 8 Insurance Expense $ 480 9 Rent Expense $2.355 10 Computer supplies Expense $3,885 11 Advertising Expense $2,718 12 Mileage expense $ 896 13 Miscellaneous expenses $ 230 14 Repairs expense - Computer $1,225 15 Total Expenses 16 Net Income 17 18 Statement of Retained Earnings 19 for the quarter ended December 31 20 Retained Earnings, October 1 21 Add: Net Income 22 23 Less: Dividends 24 Retained Earnings, December 31 25 26 $ 7,594 Q Balance Sheet December 31 Assets Current Assets Cash $52,327 Accounts Receivable $ 4,468 Computer Supplies $ 660 Prepaid Insurance $ 1,440 Prepaid Rent $ 785 Total Current Assets Property, Plant and Equipment Office Equipment $ 8,100 Less: Accumulated Depreciation - Office Equipment $ 506 Computer Equipment $21,600 Less: Accumulated Depreciation - Computer Equipment | $ 1,080 Total Assets Liabilities and Stockholder's Equity Current Liabilities Accounts Payable $ 1,080 Wages Payable $ 2,000 Unearned Computer Services Revenue $ 440 Total Current Liabilities Stockholder's Equity Common Stock $68,000 Retained Earnings $15,254 Total Stockholder's Equity Total Liabilities and Stockholder's Equity $16,800 $22,554 $20,520 $87,794 $ - $22,554 $22,554 $ 7,300 $15,254 $ 3,520 $83,254 $86,774 27 28

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