Questions
Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6 After the success of the...

Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6

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.

Account Title

Debit

Credit

101

Cash

$

38,564

106

Accounts receivable

12,818

126

Computer supplies

2,645

128

Prepaid insurance

1,860

131

Prepaid rent

3,200

163

Office equipment

8,700

164

Accumulated depreciation—Office equipment

$

0

167

Computer equipment

22,400

168

Accumulated depreciation—Computer equipment

0

201

Accounts payable

0

210

Wages payable

0

236

Unearned computer services revenue

0

307

Common stock

68,000

318

Retained earnings

0

319

Dividends

6,500

403

Computer services revenue

34,064

612

Depreciation expense—Office equipment

0

613

Depreciation expense—Computer equipment

0

623

Wages expense

2,150

637

Insurance expense

0

640

Rent expense

0

652

Computer supplies expense

0

655

Advertising expense

1,688

676

Mileage expense

644

677

Miscellaneous expenses

170

684

Repairs expense—Computer

725

Totals

$

102,064

$

102,064

Business Solutions had the following transactions and events in December 2019.   

Dec.

2

Paid $995 cash to Hillside Mall for Business Solutions’ share of mall advertising costs.

3

Paid $460 cash for minor repairs to the company’s computer.

4

Received $4,850 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 $110 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 $2,000 cash advance to Business Solutions.

15

Purchased $1,300 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.

22–26

Took the week off for the holidays.

28

Received $3,200 cash from Gomez Co. on its receivable.

29

Reimbursed S. Rey for business automobile mileage (500 miles at $0.32 per mile).

31

The company paid $1,200 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.

  1. The December 31 inventory count of computer supplies shows $630 still available.

  2. Three months have expired since the 12-month insurance premium was paid in advance.

  3. As of December 31, Lyn Addie has not been paid for four days of work at $110 per day.

  4. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.

  5. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.

  6. Three of the four months' prepaid rent have expired.

Required:

3. Prepare an adjusted trial balance as of December 31, 2019. 4. Prepare an income statement for the three months ended December 31, 2019. 5. Prepare a statement of retained earnings for the three months ended December 31, 2019. 6. Prepare a balance sheet as of December 31, 2019. 7. Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 2B. 8. Prepare a post-closing trial balance as of December 31, 2019.

In: Accounting

After the success of the company’s first two months, Santana Rey continues to operate Business Solutions....

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. Account Title Debit Credit
101 Cash $ 38,664
106 Accounts receivable 13,218
126 Computer supplies 2,645
128 Prepaid insurance 1,920
131 Prepaid rent 3,300
163 Office equipment 8,700
164 Accumulated depreciation—Office equipment $ 0
167 Computer equipment 21,600
168 Accumulated depreciation—Computer equipment 0
201 Accounts payable 0
210 Wages payable 0
236 Unearned computer services revenue 0
301 S. Rey, Capital 69,000
302 S. Rey, Withdrawals 6,000
403 Computer services revenue 32,544
612 Depreciation expense—Office equipment 0
613 Depreciation expense—Computer equipment 0
623 Wages expense 2,150
637 Insurance expense 0
640 Rent expense 0
652 Computer supplies expense 0
655 Advertising expense 1,658
676 Mileage expense 674
677 Miscellaneous expenses 240
684 Repairs expense—Computer 775
Totals $ 101,544 $ 101,544

Business Solutions had the following transactions and events in December 2019.   

Dec. 2 Paid $960 cash to Hillside Mall for Business Solutions’ share of mall advertising costs.
3 Paid $420 cash for minor repairs to the company’s computer.
4 Received $3,950 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 $115 per day.
14 Notified by Alex’s Engineering Co. that Business Solutions’ bid of $7,400 on a proposed project has been accepted. Alex’s paid a $1,600 cash advance to Business Solutions.
15 Purchased $1,700 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 $5,825 cash.
22–26 Took the week off for the holidays.
28 Received $3,900 cash from Gomez Co. on its receivable.
29 Reimbursed S. Rey for business automobile mileage (500 miles at $0.28 per mile).
31 S. Rey withdrew $1,400 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.

  1. The December 31 inventory count of computer supplies shows $640 still available.
  2. Three months have expired since the 12-month insurance premium was paid in advance.
  3. As of December 31, Lyn Addie has not been paid for four days of work at $115 per day.
  4. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
  5. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
  6. 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, 2019.
4. Prepare an income statement for the three months ended December 31, 2019.
5. Prepare a statement of owner’s equity for the three months ended December 31, 2019.
6. Prepare a balance sheet as of December 31, 2019.

In: Accounting

After the success of the company’s first two months, Santana Rey continues to operate Business Solutions....

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. Account Title Debit Credit
101 Cash $ 38,664
106 Accounts receivable 13,218
126 Computer supplies 2,645
128 Prepaid insurance 1,920
131 Prepaid rent 3,300
163 Office equipment 8,700
164 Accumulated depreciation—Office equipment $ 0
167 Computer equipment 21,600
168 Accumulated depreciation—Computer equipment 0
201 Accounts payable 0
210 Wages payable 0
236 Unearned computer services revenue 0
301 S. Rey, Capital 69,000
302 S. Rey, Withdrawals 6,000
403 Computer services revenue 32,544
612 Depreciation expense—Office equipment 0
613 Depreciation expense—Computer equipment 0
623 Wages expense 2,150
637 Insurance expense 0
640 Rent expense 0
652 Computer supplies expense 0
655 Advertising expense 1,658
676 Mileage expense 674
677 Miscellaneous expenses 240
684 Repairs expense—Computer 775
Totals $ 101,544 $ 101,544

Business Solutions had the following transactions and events in December 2019.   

Dec. 2 Paid $960 cash to Hillside Mall for Business Solutions’ share of mall advertising costs.
3 Paid $420 cash for minor repairs to the company’s computer.
4 Received $3,950 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 $115 per day.
14 Notified by Alex’s Engineering Co. that Business Solutions’ bid of $7,400 on a proposed project has been accepted. Alex’s paid a $1,600 cash advance to Business Solutions.
15 Purchased $1,700 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 $5,825 cash.
22–26 Took the week off for the holidays.
28 Received $3,900 cash from Gomez Co. on its receivable.
29 Reimbursed S. Rey for business automobile mileage (500 miles at $0.28 per mile).
31 S. Rey withdrew $1,400 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.

  1. The December 31 inventory count of computer supplies shows $640 still available.
  2. Three months have expired since the 12-month insurance premium was paid in advance.
  3. As of December 31, Lyn Addie has not been paid for four days of work at $115 per day.
  4. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
  5. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
  6. 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, 2019.
4. Prepare an income statement for the three months ended December 31, 2019.
5. Prepare a statement of owner’s equity for the three months ended December 31, 2019.
6. Prepare a balance sheet as of December 31, 2019.

In: Accounting

E14-8 (Determine Proper Amounts in Account Balances) Presented below are two independent situations. (a) George Gershwin...

E14-8 (Determine Proper Amounts in Account Balances) Presented below are two independent situations.
(a) George Gershwin Co. sold $2,000,000 of 10%, 10-year bonds at 104 on January 1, 2017. The bonds were dated January 1,
2017, and pay interest on July 1 and January 1. If Gershwin uses the straight-line method to amortize bond premium or
discount, determine the amount of interest expense to be reported on July 1, 2017, and December 31, 2017.
(b) Ron Kenoly Inc. issued $600,000 of 9%, 10-year bonds on June 30, 2017, for $562,500. This price provided a yield
of 10% on the bonds. Interest is payable semiannually on December 31 and June 30. If Kenoly uses the effective-
interest method, determine the amount of interest expense to record if financial statements are issued on
October 31, 2017.

In: Accounting

Javonte Co. set standards of 3 hours of direct labor per unit of product and $16.80...

Javonte Co. set standards of 3 hours of direct labor per unit of product and $16.80 per hour for the labor rate. During October, the company uses 21,500 hours of direct labor at a $365,500 total cost to produce 7,400 units of product. In November, the company uses 25,500 hours of direct labor at a $434,775 total cost to produce 7,800 units of product.

AH = Actual Hours
SH = Standard Hours
AR = Actual Rate
SR = Standard Rate

(1) Compute the direct labor rate variance, the direct labor efficiency variance, and the total direct labor cost variance for each of these two months. Classify each variance as favorable or unfavorable.
(2)
Javonte investigates variances of more than 5% of actual direct labor cost. Which direct labor variances will the company investigate further?

In: Accounting

How do American companies and other American stakeholders lobby in Europe? Do you think the Asian...

How do American companies and other American stakeholders lobby in Europe? Do you think the Asian or American stakeholders are more effective at lobbying in Europe? How good are the Europeans at lobbying in Asia or the USA?

In: Economics

You first needs to create a file called “myJS.js” in your project directory. Then, include the...

You first needs to create a file called “myJS.js” in your project directory. Then, include the AngularJS library and myJS.js in the header of the index.html page. Now, you need to define your angular application and a controller in this file such that the controller has the following variables with these initial values:

name = "Alex Cool";

faculty= "Faculty of Busienss and IT";

university = {name:"University of Ontario Institute of Technology",

url:"http://www.uoit.ca"};

contacts = {email:"[email protected]", phone:"xxx-xxx-xxxx"};

skills = [

{name: "Web Security",

text: "I am so great in web security."},

{name: "Typing with my toes",

text: "I can type 500 words in a minute with my toes!!!"} ];

prog_skills = ["C++", "Java", "Python"];

courses = [

{ name : "Web Programming",

number: "INFR 3120",

time:["Monday 2:10--3:30",

"Wednesday 2:10--3:30"],

instructor: "Amirali Abari"

},

{

name : "Web Programming",

number: "INFR 3120",

time:["Monday 11:10--12:30",

"Wednesday 11:10--12:30"],

instructor: "Amirali Abari"

},

{

name : "Best Programming",

number: "INFR 3120",

time:["Monday 2:10--3:30",

"Wednesday 2:10--3:30"],

instructor: "Amirali Abari"

}

];

You should edit the values of these variables to include your own information. Also, you need to slightly change the name of these variables when you are putting them in your Angular controller (Hint: remember $scope). Now modify the code of your index.html to use these variables. Some specific tasks follow:

Your name on top of the page, in contact section, and bottom of the page all come from the “name” variable defined above.

All contact Information about faculty, university, email address, and phone number should come from their relevant variables.

Your professional skills heading (i.e., the bold part) and their explanation should come from the “skills” variable. Hint: use ng-repeat.

Programming skills should come from the prog skills variable. Hint: use ng-repeat.

The content of course schedule table should come from the array of courses. Hint: use ng-repeat and also you might need to useto iterate over two rows.

Define events for your table such that if each header of column is clicked, then all rows are ordered by that column.

Index HTML

<!DOCTYPE html>
<html>
<head>
<title>Siba Lalik's Webpage</title>
<link rel="stylesheet" href="mycss.css">
<meta charset="utf-8">
<meta name="viewport" content="width=device-width, initial-scale=1">
</head>

<body>

<div class="header">
Siba Lalik's Webpage
</div>
<div class="topnav">
<a href="#contact">Contacts</a>
<a href="#about">About me</a>
<a href="#programming">Programming</a>
<a href="#professional">Professional</a>
<a href="#schedules">Schedules</a>
</div>
<div class="row">
<div class="column half">
<img src = "IMG_5425.jpeg" ></td>
</div>
<div class="column half">
<h2 style="margin:0;" id="contact">Contacts</h2>
Hiba Malik<br>
Faculty of Busienss and IT <br>
<a href = "https://www.ontariotechu.ca">Ontario TechU</a><br>
Email address: [email protected] <br>
Phone number: 5472622926 <br>
</div>
</div>


<div class="row">
<div class="column side">
<h2 id="about">About Hiba</h2>
<p>
My name is Siba Lalik. I am in my second year at OTU. I tested positive for COVID in March and recovered, that is my story.
<br> It feels odd to write just one sentence when I have a whole webpage available to work with.
<br> I like to write, hike and paint.
<br> I own a cat. I am not very good at programming but I try.
</p>
</div>

<div class="column middle">
<h2 id="professional"> Professional Skills </h2>
<ol type= "i">
<li><strong>Operating Systems:</strong> I can download Windows on my MacBook with no assistance.</li>
<li><strong>Project Management:</strong> I put together the daily worksheets with everyone's tasks at work.</li>
<li><strong>Leadership:</strong> I always walk in front of everyone.</li>
<li><strong>Communications and Negotiation Expert:</strong> In short, I love to talk but not more than I love to be right.</li>
</ol>
</p>
</div>

<div class="column side">
<h2 id="programming"> Programming Skills </h2>
<ul style="list-style-type: square">
<li>C++</li>
<li>Java</li>
<li>Ruby</li>
<li>HTML</li>
</ul>
</p>
</div>

<div class="row">
<div class="column" style="width:100%">
<h2 id="schedules"> Course Schedules </h2>
<p>Here is the table of courses that I take this semester.</p>
<table>
<tr>
<th>Course name</th>
<th>Course number</th>
<th> Days and Time </th>
<th> Instructor </th>
</tr>
<td rowspan = "2"><strong> Web programming</td>
<td rowspan = "2"> INFR 3120</td>
<td rowspan = "1"> Monday 2:10--3:30</td>
<td rowspan = "2"> Amirali Abari</td>
</tr>
<tr>
<td rowspan = "1"> Wednesday 2:10--3:30</td>
</tr>
<td rowspan = "2"><strong> Statistics</td>
<td rowspan = "2"> INFR 1450</td>
<td rowspan = "1"> Wednesday 5:10--8:30</td>
<td rowspan = "2"> Amir Rastpour</td>
</tr>
<tr>
<td rowspan = "1"> Friday 2:10--5:10</td>
</tr>
<td rowspan = "2"><strong> Intro to Entrepreneurship</td>
<td rowspan = "2"> BUSI 1700</td>
<td rowspan = "1"> Friday 3:40--6:30</td>
<td rowspan = "2"> Jeffrey Overall</td>
</tr>
</table>
</div>
  
<div class="footer">
<p>Designed by Siba @ 2020</p>
</div>
</html>

In: Computer Science

The Active Directory (AD) domain name is the same as the DNS name. True False 2...

  1. The Active Directory (AD) domain name is the same as the DNS name.

    True

    False

2 points   

QUESTION 32

  1. _________ provides the following management services:

    • Detect, isolate, diagnose, and correct problems
    • Report status to end users and managers
    • Track trends related to problems

    Fault management

    Configuration management

    Accounting management

    Performance management

2 points   

QUESTION 33

  1. The _______ layer can include routers, switches, bridges, shared-media hubs, and wireless APs.

    core

    user

    distribution

    access

In: Computer Science

The American Industrial Revolution (1770-1890) was an era with both economic growth and various social problems,...

The American Industrial Revolution (1770-1890) was an era with both economic growth and various social problems, and several new inventions made huge impacts on American society. Choose ONE invention.... mine is the railroad..... pertaining to the American Industrial Revolution and in at least 250 words discuss how it impacted American culture/workforce (Submission must be properly cited in Turabian format).

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Unix treats file directories in the same fashion as files; that is, both is defined by...

Unix treats file directories in the same fashion as files; that is, both is defined by the same type of data structure, call an inode. As with files, directories include a non-bit protection string. If care is not taken, this can create access control problems. For example, consider a file with protection mode 644 (rw- r-- r--) contained in a directory with protection mode 730 (rwx -wx ---). How might the files be compromised in this case?

In: Computer Science