CUMULATIVE PROBLEM - Aster Systems On October 1, 2017, Aster Turane organized a computer service company called Aster Systems. Aster is organized as a sole proprietorship and will provide consulting services, computer system installations, and custom program development. Aster Systems has adopted the calendar year for reporting, and expects to prepare the company's first set of financial statements as of Oct. 31, 2017. The initial chart of accounts for the accounting system includes these items: Account Account Number Account Name Number Account Name 101 Cash 301 Aster Turane, Capital 106 Accounts Receivable 302 Aster Turane, Withdrawals 126 Computer Supplies 403 Computer Services Revenue 128 Prepaid Insurance 623 Wages Expense 131 Prepaid Rent 655 Advertising Expense 163 Office Equipment 676 Mileage Expense 167 Computer Equipment 684 Repairs Expense, Computer 201 Accounts Payable 699 Charitable Donations Expense Required Please anwser all MCQ based on the following business transactions. Oct. 1 Aster Turane invested $49,000 cash, a $17,000 computer system, and $16,000 of office equipment in the business. 2 Paid six months of rent in advance: $9.000. 3 Purchased computer supplies on credit for $1,975 from Triple-One Supplies 5 Paid $12,000 cash for one year's premium on a property and liability insurance policy. 6 Billed Norton Electric $10,300 for installing a new computer system. 8 Paid for the computer supplies purchased from Triple-One Supplies. 10 Hired Donald Gee as a part-time assistant for $345 per day, as needed. 12 Billed Norton Electric another $1,850 for computer services rendered. 15 Received $1,650 from Norton Electric on its account. 17 Paid $400 to repair equipment damaged when moving into the new office. 20 Paid $2,200 for an advertisement in the local newspaper. 22 Received the balance owing from Norton Electric on its account. 28 Billed Whistler Resort $6,400 for services. 31 Paid Donald Gee for nine days' work. 31 Aster Turane withdrew $1,200 cash from the business for personal use. How much is the total expense is this month? 5705 8305 5805 8205 How much is the wage expense is this month? 65960 3105 5040 O 13550 What is the balance of total liabilities and equity at the month end? 92645 91145 92145 90145 What is the balance of total fixed assets at the month end? 32000 33000 34000 31000 What is the balance of the computer equipment account at the month end? 35040 16000 15040 17000 CUMULATIVE PROBLEM - Aster Systems On October 1, 2017, Aster Turane organized a computer service company called Aster Systems. Aster is organized as a sole proprietorship and will provide consulting services, computer system installations, and custom program development. Aster Systems has adopted the calendar year for reporting, and expects to prepare the company's first set of financial statements as of Oct. 31, 2017. The initial chart of accounts for the accounting system includes these items: Account Account Number Account Name Number Account Name 101 Cash 301 Aster Turane, Capital 106 Accounts Receivable 302 Aster Turane, Withdrawals 126 Computer Supplies 403 Computer Services Revenue 128 Prepaid Insurance 623 Wages Expense 131 Prepaid Rent 655 Advertising Expense 163 Office Equipment 676 Mileage Expense 167 Computer Equipment 684 Repairs Expense, Computer 201 Accounts Payable 699 Charitable Donations Expense Required Please anwser all MCQ based on the following business transactions. Oct. 1 Aster Turane invested $49,000 cash, a $17,000 computer system, and $16,000 of office equipment in the business. 2 Paid six months of rent in advance: $9.000. 3 Purchased computer supplies on credit for $1,975 from Triple-One Supplies 5 Paid $12,000 cash for one year's premium on a property and liability insurance policy. 6 Billed Norton Electric $10,300 for installing a new computer system. 8 Paid for the computer supplies purchased from Triple-One Supplies. 10 Hired Donald Gee as a part-time assistant for $345 per day, as needed. 12 Billed Norton Electric another $1,850 for computer services rendered. 15 Received $1,650 from Norton Electric on its account. 17 Paid $400 to repair equipment damaged when moving into the new office. 20 Paid $2,200 for an advertisement in the local newspaper. 22 Received the balance owing from Norton Electric on its account. 28 Billed Whistler Resort $6,400 for services. 31 Paid Donald Gee for nine days' work. 31 Aster Turane withdrew $1,200 cash from the business for personal use. How much is the total expense is this month? 5705 8305 5805 8205 How much is the wage expense is this month? 65960 3105 5040 O 13550 What is the balance of total liabilities and equity at the month end? 92645 91145 92145 90145 What is the balance of total fixed assets at the month end? 32000 33000 34000 31000 What is the balance of the computer equipment account at the month end? 35040 16000 15040 17000