Please answer the part B Computer SuppliesPrepaid InsurancePrepaid RentOffice EquipmentComputer EquipmentAccounts PayableComputer Services RevenueWages ExpenseAdvertising ExpenseMileage ExpenseRepairs Expense, Computer126403128623131655163676167684201699Charitable Donations ExpensePart ARequired1. Set up balance column accounts based on the chart of accounts provided.2. Prepare journal entries to record each of the following October transactions.3. Post the October entries.4. Prepare a trial balance at October 31, 2020.5. Prepare an income statement and a statement of changes in equity for the month endedOctober 31, 2020, as well as a balance sheet at October 31, 2020.Oct. 1 Aster Turane invested $32,000 cash, a $5,040 computer system, and$12,000 of office equipment in the business.2 Paid six months of rent in advance; $9,300.3 Purchased computer supplies on credit for $1,975 from Triple-One Supplies.5 Paid $8,640 cash for one year's premium on a property and liability insurancepolicy.6 Billed Norton Electric $3,300 for installing a new computer system.8 Paid for the computer supplies purchased from Triple-One Supplies.10 Hired Donald Gee as a part-time assistant for $345 per day, as needed.12 Billed Norton Electric another $1,850 for computer services rendered.15 Received $1,650 from Norton Electric on its account.17 Paid $375 to repair equipment damaged when moving into thenew office.20 Paid $1,950 for an advertisement in the local newspaper.22 Received the balance owing from Norton Electric on its account.28 Billed Whistler Resort $6,400 for services.31 Paid Donald Gee for nine days' work.31 Aster Turane withdrew $1,200 cash from the business for personal use.Part BRequired6. Prepare journal entries to record each of the following November transactions.7. Post the November entries.8. Prepare a trial balance at November 30, 2020.9. Prepare an income statement and a statement of changes in equity for the two months endedNovember 30, 2020, as well as a balance sheet at Novembe 30, 2020.Nov. 1 Reimbursed Aster Turane's business automobile expense for 2,630kilometres at $1.60 per kilometre.2 Received $7,920 cash from Langara Lodge for computer services rendered.5 Purchased $420 of computer supplies for cash from Triple-One Supplies.8 Billed Dinwoody Entertainment $4,230 for computer services rendered.13 Notified by Kinsetta Groceries that Aster's bid of $5,950 for anupcoming project was accepted.18 Received $4,200 from Whistler Resort against the bill dated October 28.22 Donated $500 to the Hope Mission in the company's name.24 Completed work for Kinsetta Groceries and sent a bill for the agreed amount.25 Sent another bill to Whistler Resort for the past due amount of $2,200.28 Reimbursed Aster Turane's business automobile expense for 1,080kilometres at $1.60 per kilometre.30 Paid Donald Gee for 17 days' work.30 Aster Turane withdrew $1,400 cash from the business for personal use.

Financial statements (FS) are those statements which are prepared by the companies during the end of…

Computer Equipment Accounts Payable Repairs Expense, Computer Charitable Donations Expense 167 684 201 699 Part A Required 1. Set up balance column accounts based on the chart of accounts provided. 2. Prepare journal entries to record each of the following October transactions. 3. Post the October entries. 4. Prepare a trial balance at October 31, 2020. Drenare an inco me statement and a statement of changes in eguity for the month endec

Computer Equipment Accounts Payable Repairs Expense, Computer Charitable Donations Expense 167 684 201 699 Part A Required 1. Set up balance column accounts based on the chart of accounts provided. 2. Prepare journal entries to record each of the following October transactions. 3. Post the October entries. 4. Prepare a trial balance at October 31, 2020. Drenare an inco me statement and a statement of changes in eguity for the month endec

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter9: Accounting For Purchases And Cash Payments

Section9.3: Posting From A Purchases Journal

Problem 1OYO

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