hi!! i need help wuth the adjusted ledger and adjusted trail balance! Do no Give solution in image format please
hi!! i need help wuth the adjusted ledger and adjusted trail balance! Do no Give solution in image format please
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
hi!! i need help wuth the adjusted ledger and adjusted trail balance!
Do no Give solution in image format please

Transcribed Image Text:After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2021,
unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2021) follows.
Number
101
106
126
128 Prepaid insurance
Prepaid rent
131
office equipment
Account Title
168
201
210
236
301
302
403
612
Cash
Accounts receivable
Computer supplies
163
164 Accumulated depreciation-office equipment
167
Computer equipment
Accumulated depreciation-Computer equipment
Accounts payable
Wages payable
Unearned computer services revenue
S. Rey, Capital
S. Rey, Withdrawals
Computer services revenue
Depreciation expense-Office equipment
613 Depreciation expense-Computer equipment
623
Wages expense
Insurance expense
637
640
Rent expense
652
Computer supplies expense
655 Advertising expense
Prev
Debit
$ 38,464
12,818
2,545
2,100
2,960
8,300
22,800
1 of 1
6,500
0
0
2,325
0
0
0
1,668
Credit
2000
64,000
38,069
Next

Transcribed Image Text:Business Solutions had the following transactions and events in December 2021.
December 2 Paid $950 cash to Hillside Mall for Business Solutions's share of mall advertising costs.
December 3 Paid $430 cash for minor repairs to the company's computer.
December 4 Received $4,950 cash from Alex's Engineering Company for the receivable from November.
December 10 Paid cash to Lyn Addie for six days of work at the rate of $105 per day.
December 14 Notified by Alex's Engineering Company that Business Solutions's bid of $7,100 on a proposed project
has been accepted. Alex's paid a $2,500 cash advance to Business Solutions.
December 15 Purchased $2,000 of computer supplies on credit from Harris Office Products.
December 16 Sent a reminder to Gomez Company to pay the fee for services recorded on November 8.
December 20 Completed a project for Liu Corporation and received $6,075 cash.
December 22-26 Took the week off for the holidays.
December 28 Received $3,400 cash from Gomez Company on its receivable.
December 29 Reimbursed S. Rey for business automobile mileage (500 miles at $0.31 per mile).
December 31 S. Rey withdrew $1,300 cash from the company for personal use.
The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the
company's first three months.
a. The December 31 inventory count of computer supplies shows $620 still available.
b. Three months have expired since the 12-month insurance premium was paid in advance.
c. As of December 31, Lyn Addie has not been paid for four days of work at $105 per da
d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
f. Three of the four months' prepaid rent have expired.
Show Transcribed Text
Required:
1. Prepare journal entries to record each of the December transactions and events for Business Solutions.
2-a. Prepare adjusting entries to reflect a through f
2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger.
3. Prepare an adjusted trial balance as of December 31, 2021.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2A
Date
December 01
December 02
Required 28 Required 3
Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger,
106: Accounts Receivable
Debit
Credit
101: Cash
Debit
Ć
Credit
Balance
Date
38,464 December 01
Balance
12,818
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