After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2018. unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2018) follows. Credit 101 106 126 Debit $38.964 13.018 2,545 1.920 3,080 8.200 12 131 163 164 167 168 21,200 201 210 236 307 318 319 403 Account Title Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent office equipment Accumulated depreciation-office Computer equipment Accumulated depreciation Computer Accounts payable Wages payable Unearned computer services revenu 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 612 613 637 640 652 655 676 677 684 $101,149 $101,149 Business Solutions had the following transactions and events in December 2018 Dec. 2 Paid $1,005 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $470 cash for minor repairs to the company's computer. 4 Received $4,150 cash from Alex's Engineering Co. for the receivable from November. 10 Paid cash to Lyn Addie for six days of work at the rate of $120 per day. 14 Notified by Alex's Engineering Co. that Business Solutions bid of $7,700 on a proposed project has been accepted. Alex's paid a $1,600 cash advance to Business Solutions. 15 Purchased $1,200 of computer supplies on credit from Harris Office Products. Business Solutions had the following transactions and events in December 2018 Dec. 2 Paid $1,005 cash to Hillside Mall for Business Solutions' share of mall advertising costs. 3 Paid $470 cash for minor repairs to the company's computer. 4 Received $4, 150 cash from Alex's Engineering Co. for the receivable from November. 10 Paid cash to Lyn Addie for six days of work at the rate of $120 per day. 14 Notified by Alex's Engineering Co. that Business Solutions' bid of $7,700 on a proposed project has been accepted. Alex's paid a $1,600 cash advance to Business Solutions. 15 Purchased $1,200 of computer supplies on credit from Harris Office Products. 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. 20 Completed a project for Liu Corporation and received $6,525 cash. 22- Took the week off for the holidays. 26 28 Received $3,800 cash from Gomez Co. on its receivable. 29 Reimbursed s. Rey for business automobile mileage (500 miles at $0.30 per mile). 31 The company paid $1,000 cash in dividends. 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 $610 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 $120 per day. 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. 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, 2018 4. Prepare an income statement for the three months ended December 31, 2018 5. Prepare a statement of retained earnings for the three months ended December 31, 2018. 6. Prepare a balance sheet as of December 31, 2018. 7. Record and post the necessary closing entries as of December 31, 2018 8. Prepare a post-closing trial balance as of December 31, 2018. View transaction list View journal entry worksheet Credit No 1 Date Dec 02 General Journal s Debit 1,005 Advertising expense Cash 1,005 2 Dec 03 470 Repairs expense - Computer Cash 470 . Dec 04 4,150 Cash Accounts receivable 4,150 Dec 10 Wages expense Cash Dec 14 1,600 Cash Unearned computer services revenue 1,600 Dec 15 Computer supplies 1,200 1.200 27 Dec 16 No journal entry required 28 Dec 20 6,525 Cash Computer services revenue 6,525 Complete this question by entering your answers in the tabs below. Req1 Req 2A Reg 28 Req3 Reg 4 Reg 5 Req 6 Req 7 Req 8 Prepare adjusting entries to reflect a through f. View transaction list View journal entry worksheet No Transaction General Journal Credit Debit 3,135 Computer supplies expense Computer supplies 3,135 480 Insurance expense Prepaid insurance 480 Wages expense Wages payable 480 1,325 Depreciation expense-Computer equipment Accumulated depreciation Computer equipment 1,325 Depreciation expense-Office equipment Accumulated depreciation-Office equipment 410 Rent expense Prepaid rent 2,310 2,310 Rogi Req 28 > Saved Accounts Receivable Date Dobit Credit Debit Credit Balance Balance 38,964 Date Dec. 01 Dec. 01 13,018 Computer Supplies Debit Credit Prepaid Insurance Debit Credit Date Balance Date Dec. 01 Balance 2,545 Dec 01 1.920 Prepaid Rent Debit Credit Office Equipment Debit Credit Date Dec. 01 Balance Balance 3,080 Date Dec. 01 8,200 Accumulated Depreciation - Office Equipment nata m ani Code Rais Computer Equipment Saved Req 2A Req 1 Req 2B Req3 Req Rea Req? Req8 Prepare a balance sheet as of December 31, 2018. BUSINESS SOLUTIONS Balance Sheet December 31, 2018 Assets OD Total Assets Liabilities DOO Total Liabilities Equity Total Liabilities and Equity Reg 5 Reg 7 >