Financial accounting
The November 30, 2018, unadjusted trial balance of Sanchez Solutions is found in the Trial balance tab. Sanchez Solutions had the following transactions and events in December 2018.
| Dec. | 2 | Paid $1,210 cash to Gulfside Mall for Sanchez Solutions’ share of mall advertising costs. | ||
| Dec. | 3 | Paid $620 cash for minor repairs to the company’s computer. | ||
| Dec. | 4 | Received $6,400 cash from Walsh Engineering Co. for the receivable from November. | ||
| Dec. | 10 | Paid cash to Laura Sanchez for six days of work at the rate of $180 per day. | ||
| Dec. | 14 | Notified by Walsh Engineering Co. that Sanchez Solutions’ bid of $7,600 on a proposed project has been accepted. Walsh paid a $1,800 cash advance to Sanchez Solutions. | ||
| Dec. | 15 | Purchased $1,950 of computer supplies on credit from Miller Office Products. | ||
| Dec. | 16 | Sent a reminder to Hughes Co. to pay the fee for services recorded on November 8. | ||
| Dec. | 20 | Completed a project for Fields Corporation and received $7,300 cash. | ||
| Dec. | 22-26 | Took the week off for the holidays. | ||
| Dec. | 28 | Received $3,200 cash from Hughes Co. on its receivable. | ||
| Dec. | 29 | Reimbursed M. Sanchez for business automobile mileage (700 miles at $0.32 per mile). | ||
| Dec. | 31 | The company paid $2,200 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:
The December 31 inventory count of computer supplies shows $1,260 still available.
Three months have expired since the 12-month insurance premium was paid in advance.
As of December 31, Laura Sanchez has not been paid for four days of work at $180 per day.
The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
Three of the four months’ prepaid rent has expired.
Prepare journal entries for each of the December transactions.
| Dec 02 | Advertising expenseselected answer correct | 1,210selected answer correct | not attempted |
| Cashselected answer correct | not attempted | 1,210selected answer correct | |
| Dec 03 | Repairs expense - Computerselected answer correct | 620selected answer correct | not attempted |
| Cashselected answer correct | not attempted | 620selected answer correct | |
| Dec 04 | Cashselected answer correct | 6,400selected answer correct | not attempted |
| Accounts receivableselected answer correct | not attempted | 6,400selected answer correct | |
| Dec 10 | Wages expenseselected answer correct | 1,080selected answer correct | not attempted |
| Cashselected answer correct | not attempted | 1,080selected answer correct | |
| Dec 14 | Cashselected answer correct | 1,800selected answer correct | not attempted |
| Unearned computer services revenueselected answer correct | not attempted | 1,800 |
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...
Check my work GLO305 - Based on the Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 27:55 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...
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.Business Solutions had the following transactions and events in December 2019. Business Solutions had the following transactions and events in December 2019. Dec.2 Paid $975 cash to Hillside Mall for Business Solutions’ share of mall advertising costs.3 Paid $410 cash for minor repairs to the company’s computer.4 Received $4,750 cash...
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....
Business Solutions had the following transactions and events in December 2015 Dec. 2 Paid $925 cash to Hillside Mall for Business Solutions' share of mall advertising costs 3 Paid $420 cash for minor repairs to the company's computer 4 Received $4,450 cash from Alex's Engineering Co. for the receivable from November 10 Paid cash to Lyn Addie for six days of work at the rate of $115 per day 14 Notified by Alex's Engineering Co. that Business Solutions' bid of...
After the success of the company’s first two months, Santana Rey
continues to operate Business Solutions. The November 30, 2017,
unadjusted trial balance of Business Solutions (reflecting its
transactions for October and November of 2017) follows.
No.
Account Title
Debit
Credit
101
Cash
$
38,264
106
Accounts receivable
12,618
126
Computer supplies
2,545
128
Prepaid insurance
2,220
131
Prepaid rent
3,300
163
Office equipment
8,000
164
Accumulated depreciation—Office equipment
$
0
167
Computer equipment
20,000
168
Accumulated depreciation—Computer equipment
0...
ignments ACC 2021-001: P. Chapter 3 Help Save & E GL0305 - Based on the Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 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' shary of mall advertising costs. Dec. 3 Paid $500 cash for minor repairs to the...