Can someone help me with this, please? It will be great if someone can answer th

Question

Can someone help me with this, please?

It will be great if someone can answer this directly in a copyable format.

Adria Lopez created Success Systems on October 1, 2013. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2013. Adria Lopez decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts

Explanation / Answer

1. In the books of Success Systems:

Contd.:

Date Account Titles Debit Credit $ $ Jan 4 Wages Payable 500 Wages Expense 125 Cash 625 Jan 5 Cash 25,000 Common Stock 25,000 Jan 7 Merchandise Inventory 5,800 Accounts Payable 5,800 Jan 9 Cash 2,668 Accounts Receivable 2,668 Jan 11 Unearned Computer Service Revenue 1,500 Accounts Receivable 5,500 Computer Services Revenue 7,000 Jan 13 Accounts Receivable 5,200 Sales 5,200 Jan 13 Cost of Goods Sold 3,560 Merchandise Inventory 3,560 Jan 15 Merchandise Inventory 600 Cash 600 Jan 16 Cash 4,000 Computer Services Revenue 4,000 Jan 17 Accounts Payable 5,800 Merchandise Inventory 58 Cash 5,742 Jan 20 Sales Returns and Allowances 500 Accounts Receivable 500 Jan 22 Cash 4,653 Sales Discounts 47 Accounts Receivable 4,700 Jan 24 Accounts Receivable 496 Merchandise Inventory 496 Jan 26 Merchandise Inventory 9,000 Accounts Payable 9,000 Jan 26 Accounts Receivable 5,800 Sales Revenue 5,800 Jan 26 Cost of Goods Sold 4,640 Merchandise Inventory 4,640 Jan 31 Wages Expense 1,250 Cash 1,250 Feb 1 Prepaid Rent 2,475 Cash 2,475 Feb 3 Accounts Payable 9,000 Merchadise Inventory 90 Accounts Receivable 496 Cash 8,414 Feb 5 Advertising Expense 600 Cash 600 Feb 11 Cash 5,500 Accounts Receivable 5,500 Feb 15 Dividends 4,800 Cash 4,800

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