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On October 1, 2021, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. The company's initial chart of accounts follows Account Number Account Cash Number 101 Common stock 307 Accounts Receivable 106 Dividends 319 Computer Supplies 126 Computer Services Revenue 403 Prepaid Insurance 128 Wages Expense 623 Prepaid Rent 131 Advertising Expense 655 Office Equipment 163 Mileage Expense 676 Computer Equipment 167 Miscellaneous Expenses 677 Accounts Payable 201 Repairs Expense-Computer 684 October 1 S. Rey invested $50,00 cash, a $22,000 computer system, and $9,000 of office equipment in the company in exchange for common stock. October 2 The company paid $3,300 cash for four months rent. Hint: Debit Prepaid Rent for $3,300. October 3 The company purchased $1,360 of computer supplies on credit from Harris Office Products. October 5 The company paid $2,160 cash for one year's premium on a property and liability insurance policy. Hint: Debit Prepaid Insurance for $2,160. October 6 The company billed Easy Leasing $5,700 for services performed in installing a new Web server. October 8 The company paid $1,360 cash for the computer supplies purchased from Harris Office Products on October 3. October 10 The company hired Lyn Addie as a part-time assistant. October 12 The company billed Easy Leasing another $2,200 for services performed. October 15 The company received $5,700 cash from Easy Leasing as partial payment on its account. October 17 The company paid $775 cash to repair computer equipment that was damaged when moving it. October 20 The company paid $1,693 cash for advertisements. October 22 The company received $2,200 cash from Easy Leasing on its account. October 28 The company billed IFM Company $5,708 for services performed. October 31 The company paid $875 cash for Lyn Addie's wages for seven days' work. October 31 The company paid a $3,000 cash dividend. November 1 The company paid $270 cash for mileage expenses. November 2 The company received $5,233 cash from Liu Corporation for computer services performed. November 5 The company purchased computer supplies for $1,115 cash from Harris Office Products, November 8 The company billed Gomez Company $5,768 for services performed. November 13 The company agreed to perform future services for Alex's Engineering Company. No work has yet been performed. November 18 The company received $2,208 cash from IFM Company as partial payment of the October 28 bill. November 22 The company paid $230 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expenses for $230. November 24 The company completed work and sent a bill for $4,750 to Alex's Engineering Company. Aliramher 95 The camnany cant annther hill + TEM Comnany for the neturint of San October 15 The company received $5,700 cash from Easy Leasing as partial payment on its account. October 17 The company paid $775 cash to repair computer equipment that was damaged when moving it. October 20 The company paid $1,693 cash for advertisements. October 22 The company received $2,200 cash from Easy Leasing on its account. October 28 The company billed IFM Company $5,708 for services performed. October 31 The company paid $875 cash for Lyn Addie's wages for seven days' work. October 31 The company paid a $3,000 cash dividend. November 1 The company paid $270 cash for mileage expenses. November 2 The company received $5,233 cash from Liu Corporation for computer services performed. November 5 The company purchased computer supplies for $1,115 cash from Harris Office Products. November 8 The company billed Gomez Company $5,768 for services performed. November 13 The company agreed to perform future services for Alex's Engineering Company. No work has yet been performed November 18 The company received $2,208 cash from IFM Company as partial payment of the October 28 bill. November 22 The company paid $230 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expenses for $230. November 24 The company completed work and sent a bill for $4,750 to Alex's Engineering Company, November 25 The company sent another bill to IFM Company for the past-due amount of $3,500. November 28 The company paid $324 cash for mileage expenses. November 30 The company paid $1,750 cash for Lyn Addie's wages for 14 days work. November 30 The company paid a $1,700 cash dividend. Required: 1. Prepare Journal entries to record each of the above transactions for Business Solutions. 2. Prepare ledger accounts (in balance column format) and post the journal entries from requirement to them. 3. Prepare a trial balance as of the end of November Prepare a trial balance as of the end of November. BUSINESS SOLUTIONS Trial Balance November 30 Debit Credit Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Computer equipment Accounts payable Common stock Dividends Computer services revenue Wages expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Totals $ 0 $ 0 101: Cash Debit Credit Date 106: Accounts Receivable Debit Credit Balance Date Balance 126: Computer Supplies Debit Credit 128: Prepaid Insurance Debit Credit Date Balance Date Balance 131: Prepaid Rent Debit Credit 163: Office Equipment Debit Credit Date Balance Date Balance 167: Computer Equipment Debit Credit 201: Accounts Payablo Debit Credit Date Balance Data Balance 307: Common Stock Debit Credit 319: Dividends Debit Credit Date Balance Balance Date 403: Computer Services Revenue Debit Credit 623: Wages Expense Debit Credit Date Balance Date Balance 655: Advertising Expense Debit Credit 676: Mileage Expense Debit Credit Date Balance Balance Date 684: Repairs Expense Computer Debit Credit 677: Miscellaneous Expenses Debit Credit Balance Balance Date Date On October 1, 2021, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. The company's initial chart of accounts follows. 403 Account Number Account Number Cash 101 Common stock 307 Accounts Receivable 106 Dividends 319 Computer Supplies 126 Computer Services Revenue Prepaid Insurance 128 Wages Expense 623 Prepaid Rent 131 Advertising Expense Office Equipment 655 163 Mileage Expense 676 Computer Equipment 167 Miscellaneous Expenses 677 Accounts Payable 201 Repairs Expense-Computer 684 October 1 s. Rey invested $50,000 cash, a $22,000 computer system, ad $9,000 of office equipment in the company in exchange for common stock. October 2 The company paid $3,300 cash for four months' rent. Hint: Debit Prepaid Rent for $3,300. October 3 The company purchased $1,360 of computer supplies on credit from Harris office Products. October 5 The company paid $2,160 cash for one year's premium on a property and liability insurance policy. Hint: Debit Prepaid Insurance for $2,160. October 6 The company billed Easy Leasing $5,700 for services performed in installing a new Web server. October 8 The company paid $1,360 cash for the computer supplies purchased from Harris Office Products on October 3. October 10 The company hired Lyn Addie as a part-time assistant. October 12 The company billed Easy Leasing another $2,200 for services performed. October 15 The company received $5,700 cash from Easy Leasing as partial payment on its account. October 17 The company paid $775 cash to repair computer equipment that was damaged when moving it. October 20 The company paid $1,693 cash for advertisements. October 22 The company received $2,200 cash from Easy Leasing on its account. October 28 The company billed IFM Company $5,708 for services performed. October 31 The company paid $875 cash for Lyn Addie's wages for seven days' work. October 31 The company paid a $3,000 cash dividend. November 1 The company paid $270 cash for mileage expenses. November 2 The company received $5,233 cash from Liu Corporation for computer services performed. November 5 The company purchased computer supplies for $1,115 cash from Harris Office Products. November 8 The company billed Gomez Company $5,768 for services performed. November 13 The company agreed to perform future services for Alex's Engineering Company. No work has yet been performed. November 18 The company received $2,208 cash from IFM Company as partial payment of the October 28 bill. November 22 The company paid $230 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expenses for $230. November 24 The company completed work and sent a bill for $4,750 to Alex's Engineering Company, November 25 The company sent another bill to IFM Company for the past-due amount of $3.500. 4 - www October 31 The company paid $875 cash for Lyn Addie's wages for seven days' work. October 31 The company paid a $3,000 cash dividend. November 1 The company paid $270 cash for mileage expenses. November 2 The company received $5,233 cash from Liu Corporation for computer services performed. November 5 The company purchased computer Supplies for $1,115 cash fron Harris Office Products. November 8 The company billed Gomez Company $5,768 for services performed. November 13 The company agreed to perform future services for Alex's Engineering Company. No work has yet been performed. November 18 The company received $2,208 cash fron IFM Company as partial payment of the October 28 bill. November 22 The company paid $230 cash for miscellaneous expenses. Hint: Debit Miscellaneous Expenses for $230. November 24 The company completed work and sent a bill for $4,750 to Alex's Engineering Company. November 25 The company sent another bill to IFM Company for the past-due amount of $3,500. November 28 The company paid $324 cash for mileage expenses. November 30 The company paid $1,750 cash for Lyn Addie's wages for 14 days work. November 30 The company paid a $1,700 cash dividend. Required: 1. Prepare journal entries to record each of the above transactions for Business Solutions. 2. Prepare ledger accounts (in balance column format) and post the journal entries from requirement to them. 3. Prepare a trial balance as of the end of November Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare ledger accounts (in balance column format) and post the journal entries from requirement 1 to them. 106: Accounts Receivable

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