Question

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. Credit No 101 106 126 Debit $ 39,064 13,418 2,645 2,160 3,060 9,000 20,400 128 131 163 164 167 168 201 210 236 307 318 319 @ 73,000 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 6,200 28, 419 2,225 612 613 623 637 640 652 655 676 677 684 1,668 634 150 795 $181,419 $ 101,419 Активираire Windows оро

Answer 1

1.

Date	General Journal	Debit	Credit
		$	$
Dec 2	Advertising Expense	960
	Cash		960
Dec 3	Repairs Expense: Computer	460
	Cash		460
Dec 4	Cash	4,350
	Accounts Receivable		4,350
Dec 10	Wages Expense	600
	Cash		600
Dec 14	Cash	1,800
	Unearned Computer Services Revenue		1,800
Dec 15	Computer Supplies	2,100
	Accounts Payable		2,100
Dec 16	No journal entry required	0	0
Dec 20	Cash	6,425
	Computer Services Revenue		6,425
Dec 28	Cash	3,800
	Accounts Receivable		3,800
Dec 29	Mileage Expense	135
	Cash		135
Dec 31	Dividends	1,000
	Cash		1,000

2-a.

No.	General Journal	Debit	Credit
		$	$
a.	Computer Supplies Expense	4,095
	Computer Supplies		4,095
b.	Insurance Expense	540
	Prepaid Insurance		540
c.	Wages Expense	400
	Wages Payable		400
d.	Depreciation Expense: Computer Equipment	1,275
	Accumulated Depreciation : Computer Equipment		1,275
e.	Depreciation Expense: Office Equipment	450
	Accumulated Depreciation : Office Equipment		450
f.	Rent Expense	2,295
	Prepaid Rent		2,295

3.

Business Solutions Adjusted Trial Balance December 31, 2019
Account Title	Debit	Credit
	$	$
Cash	52,284
Accounts Receivable	5,268
Computer Supplies	650
Prepaid Insurance	1,620
Prepaid Rent	765
Office Equipment	9,000
Accumulated Depreciation : Office Equipment		450
Computer Equipment	20,400
Accumulated Depreciation : Computer Equipment		1,275
Accounts Payable		2,100
Wages Payable		400
Unearned Computer Services Revenue		1,800
Common Stock		73,000
Retained Earnings		0
Dividends	7,200
Computer Services Revenue		34,844
Depreciation Expense: Office Equipment	450
Depreciation Expense: Computer Equipment	1,275
Wages Expense	3,225
Insurance Expense	540
Rent Expense	2,295
Computer Supplies Expense	4,095
Advertising Expense	2,628
Mileage Expense	769
Misellaneous Expense	150
Repairs Expense: Computer	1,255
Totals	$ 113,869	$ 113,869

4.

Business Solutions Income Statement For the three months ended December 31, 2019
Computer Services Revenue		$ 34,844
Expenses
Depreciation Expense: Office Equipment	$ 450
Depreciation Expense: Computer Equipment	1,275
Wages Expense	3,225
Insurance Expense	540
Rent Expense	2,295
Computer Supplies Expense	4,095
Advertising Expense	2,628
Mileage Expense	769
Misellaneous Expense	150
Repairs Expense: Computer	1,255
Total Expenses		16,682
Net Income		$ 18,162

5.

Business Solutions Statement of Retained Earnings For the three months ended December 31, 2019
Retained Earnings, October 1	$ 0
Add: Net Income	18,162
Less: Dividends	(7,200)
Retained Earnings, December 31	$ 10,962