Question

The November 30, 2018, unadjusted trial balance of Solid Systems is found in the Trial balance tab. Solid Systems had the following transactions and events in December 2018. Dec. 2 Paid $1,210 cash to Lakeside Mall for Solid Systems' share of mall advertising costs. Dec. 3 Paid $620 cash for minor repairs to the company's computer. Dec. 4 Received $7,300 cash from Kelley Engineering Co. for the receivable from November. Dec. 10 Paid cash to Mary Potter for six days of work at the rate of $260 per day. Dec. 14 Notified by Kelley Engineering Co. that Solid Systems' bid of $7,600 on a proposed project has been accepted. Kelley paid a $1,800 cash advance to Solid Systems. Dec. 15 Purchased $2,500 of computer supplies on credit from Green Office Products. Dec. 16 Sent a reminder to Byrnes Co. to pay the fee for services recorded on November 8. Dec. 20 Completed a project for Clark Corporation and received $8,400 cash. Dec. 22- Took the week off for the holidays. 26 Dec. 28 Received $3,800 cash from Byrnes Co. on its receivable. Dec. 29 Reimbursed c. Brady for business automobile mileage (750 miles at $0.32 per mile). Dec. 31 The company paid $2,500 cash in dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months: a. The December 31 inventory count of computer supplies shows $1,700 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. C. As of December 31, Mary Potter has not been paid for four days of work at $260 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value. f. Three of the four months' prepaid rent has expired.

Answer 1

Journal Entries Date Account Title and Explaination Debit Credit Post. Ref. Dec.2 1,210.00 Advertising Expenses Cash (To record Advertising expenses paid) $ 1,210.00 Dec.3 620.00 Repairs Expense - Computer Cash (To record Computer repairs charges paid) 620.00 Dec.4 7,300.00 Cash Accounts Receivables (To record collection of receivables) S 7,300.00 Dec. 10 Wages Expense ($260 x 6) 1,560.00 Cash $ 1,560.00 (To record wages paid) Dec.14 1,800.00 Cash Unearned Service Revenue (To record advance received) $ 1,800.00

Dec.15 2,500.00 Computer Supplies Accounts Payable |(To record Computer supplies purchased on account) $ 2,500.00 Dec.16 No Journal Entry Required for sending remainders 8,400.00 Dec.20 Cash Service Revenue (To record Service performed for cash) 8,400.00 Dec.22 No Journal Entries Required for holidays

Dec.22 No Journal Entries Required for holidays $ 3,800.00 Dec.28 Cash Accounts Receivable (To record collection of receivables) S 3,800.00 240.00 Dec.29 Mileage Expense(750x$0.32) Cash (To record Mileage expenses reimbursed) 240.00 2,500.00 Dec.31 Dividends Cash (To record Cash dividends paid) $ 2,500.00