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Oct. S. Rey invested $52,000 cash, a $23,000 computer system, and $8,000 of office equipment in the company. 2 The company paid $3,280 cash for four months rent. (Hint: Debit Prepaid Rent for $3,280.) 3 The company purchased $1,390 of computer supplies on credit from Harris Office Products 5 The company paid $1,800 cash for one years premium on a property and liability insurance policy. (Hint: Debit Prepaid Insurance for $1,800.) 6 The company billed Easy Leasing $5,400 for services performed in installing a new Web server 8 The company paid $1,390 cash for the computer supplies purchased from Harris Office Products on October 3. 10 The company hired Lyn Addie as a part-time assistant for $150 per day, as needed. 12 The company billed Easy Leasing another $1,600 for services performed 15 The company received $5,400 cash from Easy Leasing as partial payment on its account. 17 The company paid $795 cash to repair computer equipment that was damaged when moving it. 20 The company paid $1,698 cash for advertisements published in the local newspaper. 22 The company received $1,600 cash from Easy Leasing on its account. 28 The company billed IFM Company $5,308 for services performed. 31 The company paid $1,050 cash for Lyn Addies wages for seven days work. 31 S. Rey withdrew $2,800 cash from the company for personal use Nov. 1 The company reimbursed S. Rey in cash for business automobile mileage allowance (Rey logged 1,000 miles at $0.28 per mile) 2 The company received $5,033 cash from Liu Corporation for computer services performed 5 The company purchased computer supplies for $1,070 cash from Harris Office Products 8 The company billed Gomez Co. $6,368 for services performed 13 The company received notification from Alexs Engineering Co. that Business Solutionss bid of $4,650 for an upcoming project was accepted. 18 The company received $1,708 cash from IFM Company as partial payment of the October 28 bill. 22 The company donated $220 cash to the United Way in the companys name 24 The company completed work for Alexs Engineering Co. and sent Alexs a bil1 for $4,650 25 The company sent another bill to IFM Company for the past-due amount of $3,600 28 The company reimbursed S. Rey in cash for business automobile mileage (1,200 miles at $0.28 per mile) 30 The company paid $2,100 cash for Lyn Addies wages for 14 days work. 30 S. Rey withdrew $1,000 cash from the company for personal useOct 01 Cash Computer equipment Office equipment 52,000 23,000 8,000 Oct 02 Prepaid rent 3,280 Oct 03 Computer supplies 1,390 4 Oct 05 Prepaid insurance 1,800 Oct 06 Accounts receivable 5,400 Oct 08 Accounts payable 1,390 Oct 10 No journal entry required Oct 12 Accounts receivable 1,600 Oct 15 Cash 5,400795 Oct 17 Repairs expense-Computer 10 1,698 Oct 20 Advertising expense 1,600 12 Oct 22 Cash 5,308 13 Oct 28 Accounts receivable 1,050 14 Oct 31 Wages expense 2,800 15 Oct 31 S. Rey, Withdrawals 280 16 Nov 01 Mileage expense 5,033 17 Nov 02 Cash 1,070 18 Nov 05 Computer supplies 6,368 19 Nov 08 Accounts receivable 20 Nov 13 No journal entry required101: Cash 106: Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance126: Computer Supplies 128: Prepaid Insurance Credit Date Debit Credit Balance Date Debit Balance 131: Prepaid Rent Debit 163: Office Equipment Credit Date Credit Balance Date Debit Balance 167: Computer Equipment 201: Accounts Payable Credit Date Debit Credit Balance Date Debit Balance301: S. Rey, Capital Debit 302: S. Rey, Withdrawals Credit Date Credit Balance Date Debit Balance 403: Computer Services Revenue 623: Wages Expense Date Debit Credit Balance Date Debit Credit Balance

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Answer #1

I have made adjusting entries to expense off Prepaid Rent and Prepaid Insurance in below ledgers and TB

S Rey T Accounts Date Debit Date CreditDate Debit Date Accounts Receivable Credit Date Debit Date CreditDate Debit Date Credit Computer Supplies Prepaid Insurance 1-Oct $52,0002-Oct $ 3,280 15-Oct $ 5,400 5-Oct $ 1,800 12-Oct $ 1,600 22-Oct $ 1,600 6-Oct $ 5,40015-Oct 5,400 3-Oct $ 1,390 5-Oct $ 1,800 31-Oct $ 150 22-Oct $ 1,6008-Oct $ 1,39028-Oct 5,308 17-Oct $ 795 20-Oct$ 1,698 31-Oct $ 1,050 31-Oct 2,800 2-Nov $ 5,033 1-Nov$ 2808-Nov 6,36818-No 1,708 5-Nov 1,070 30-Nov $ 18-Nov 1,7085-Nov 1,070 24-Nov $ 4,650 22-Nov$ 220 28-Nov $ 280 30-Nov $ 2,100 30-Nov 1,000 1,500 Accounts Payable $47,978 $14,618 Office Equipment Bal Bal $ 2,460 Bal Prepaid Rent Computer Equipment 2-Oct $ 3,280 31-Oct$ 820 1-Oct $ 8,000 1-Oct $23,000 8-Oct $ 1,3903-Oct $ 1,390 30-Nov $ 820 1,640 S. Rey, Capital $ 8,000 31-Oct $ 2,800 30-Nov$ 1,000 3,800 31-Oct $ 1,050 Bal $23,000 S. Rey, Withdrawals 1-Oct $83,000 $ 83,000 Bal Bal Computer Services Revenue Wages expense Advertising expense Repais expense- computer 17-0ct $ 795 6-Oct $ 5,400 12-Oct 1,600 28-Oct $ 5,308 20-Oct$ 1,698 2-Nov $ 5,033 8-Nov $ 6,368 24-Nov$ 4,650 30-Nov $ 2,100 $28,359 Bal $3,150 795 S 1,698 Mileage expense Donations Rent expense Insurance expense 1-Nov $ 280 28-Nov$ 280 31-Oct 820 30-Nov$ 820 31-Oct 150 30-Nov $ 150 22-Nov $ 220 Bal $ 560 Bal $ 220 $ 1,640 $ 300TB as of Oct Debit Credit TB as of Nov S Re Account Cash Accounts Receivable Computer supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accounts Payable S. Rey, Capital S. Rey, Withdrawals Computer Service Revenue Wages expense Repairs expense Advertising expense Rent expense Insurance expense Mileage expense Donations Totals Debit Credit 46,187 5,308 1,390 1,650 2,460 8,000 23,000 47,978 14,618 2,460 1,500 1,640 8,000 23,000 83,000 83,000 2,800 3,800 12,308 28,359 1,050 795 1,698 820 150 3,150 795 1,698 1,640 300 560 220 95,30895,308 111,359 111,359

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