Question

The November 30, 2018, unadjusted trial balance of Business Solutions is found in the Trial balance tab. Business Solutions had the following transactions and events in December 2018.
  

Dec. 2 Paid $1,025 cash to Hillside Mall for Business Solutions’ share of mall advertising costs.
Dec. 3 Paid $500 cash for minor repairs to the company’s computer.
Dec. 4 Received $3,950 cash from Alex’s Engineering Co. for the receivable from November.
Dec. 10 Paid cash to Lyn Addie for six days of work at the rate of $125 per day.
Dec. 14 Notified by Alex’s Engineering Co. that Business Solutions’ bid of $7,000 on a proposed project has been accepted. Alex’s paid a $1,500 cash advance to Business Solutions.
Dec. 15 Purchased $1,100 of computer supplies on credit from Harris Office Products.
Dec. 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8.
Dec. 20 Completed a project for Liu Corporation and received $5,625 cash.
Dec. 22-26 Took the week off for the holidays.
Dec. 28 Received $3,000 cash from Gomez Co. on its receivable.
Dec. 29 Reimbursed S. Rey for business automobile mileage (600 miles at $0.32 per mile).
Dec. 31 The company paid $1,500 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:
  

  1. The December 31 inventory count of computer supplies shows $580 still available.
  2. Three months have expired since the 12-month insurance premium was paid in advance.
  3. As of December 31, Lyn Addie has not been paid for four days of work at $125 per day.
  4. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
  5. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
  6. Three of the four months’ prepaid rent has expired.
  7. Check my work mode : This shows what is correct or incorrect for the work you have completed so far. I doel o Dec 28 Accounts
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Business Solutions Journal Enteries Date Particulars 2.12.2018 Advertising expense a/c Dr. To Cash (Being Advertising expense

Adjustment enteries Date Particulars Debit in $Credit in $ 31.12.2018|Computer supplies expense a/c Dr. 3065 To Computer Supp

Unadjusted Trial Balance As at 31.12.2018 Unadjusted Adjustment Adjusted Post Closing Debit in $ Credit in $ Debit in $ Credi

31284 Statement of Income For the period ending 31.12.2018 Computer Service Revenue Less: Depreciation - office equip Depreci

Amounts in $ Amounts in $ Balance sheet As at 31.12.2018 Assets Current Assets Cash Accounts Receivable Computer Supplies Pre

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