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Accounting 2140 - Comprehensive Problem On October 1, 2019, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2019. After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. No. Credit 101 106 126 Debit $ 38,364 12,718 2.645 1,860 3,080 8.900 128 131 163 164 167 168 201 21,600 67,000 236 307 318 319 403 Account Title Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation Office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Unearned computer services revenue 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 6,300 33,914 612 613 623 2,150 637 640 652 655 676 677 684 1,668 654 230 745 $100.914 $100.914 Business Solutions had the following transactions and events in December 2019 Dec. 14 15 Paid $930 cash to Hillside Mall for Business Solutions' share of mail advertising costs Paid $450 cash for minor repairs to the company's computer. Received $4,350 cash from Alex's Engineering Co. for the receivable from November Paid cash to Lyn Addie for six days of work at the rate of $115 per day. Notified by Alex's Engineering Co that Business Solutions' bid of $7,500 on a proposed project has been accepted. Alex's paid a $1,600 cash advance to Business Solutions Purchased $1,900 of computer supplies on credit from Harris Office Products Sent a reminder to Gomez Co, to pay the fee for services recorded on November 8. Completed a project for Liu Corporation and received $6.225 cash. Took the week off for the holidays. Received $3,400 cash from Gomez Co. on its receivable. Reimbursed S. Rey for business automobile mileage (500 miles at $0.30 per mile). The company paid $1,100 cash in dividends. 22-26 28 29 31

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