https nect htmi e Problem Sved Help S After the success of the company\'s first

Question

https nect htmi e Problem Sved Help S 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 38-465 101 Cash 106 Accounts receivable 12? C utersupplies 128 Pzepaid insurance 131 Prepaid rent 163 office eqaipment 164 Accumulated depreciation-office equipment 167 Computer eqaipment 168 Aceumulated depreaiation-Computer equipment 201 Accounts payable 210 Wages payable 236 nearned computer services zevenue 13,518 .040 8,200 600 65, 000 318 Recained earnings 319 Dividenda 403 Computer services zevenue 35, 959 612 Depzeciation expense-office eqaipment 613 Depreciacion expense-Computer eqipment 2, 375 423 Wages expese 640 Rent expense 652 Compatez suppiiea expense . 67 5 Adverciang xpena 66 Mileage expense 7 M1ce1aceous expenses 684 Repairn expense-Compute Prey 1 of F11 F12 F9 F10 FS F6 F8 ? F4?

Explanation / Answer

The question is very long. It is practically impossible to complete all the parts within the available time. I was able to complete Part 1, Part 2, Part 3 and Part 4.

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Part 1)

The journal entries are prepared as below:

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Part 2-a)

The adjusting entries are given as below:

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Part 2-b)

The ledgers are prepared as below:

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Part 3)

The adjusted trial balance is prepared as below:

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Part 4)

The income statement is given as below:

Date General Journal Debit Credit Dec. 2 Advertising Expense $1,015 Cash $1,015 Dec. 3 Repairs Expense - Computer $480 Cash $480 Dec. 4 Cash $4,350 Accounts Receivable $4,350 Dec. 10 Wages Expense (120*6) $720 Cash $720 Dec. 14 Cash $1,800 Unearned Computer Services Revenue $1,800 Dec. 15 Computer Supplies $1,400 Accounts Payable $1,400 Dec. 16 No Journal Entry Required $0 No Journal Entry Required $0 Dec. 20 Cash $5,775 Computer Services Revenue $5,775 Dec. 28 Cash $3,000 Accounts Receivable $3,000 Dec. 29 Mileage Expense (400*.23) $92 Cash $92 Dec. 31 Dividends $1,200 Cash $1,200

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