PRUDLEIV - Aster Systems This nisive problem starts in this chapter 2 and continues in Chapters 3. 4 and 5. 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 53 S2 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 On October 1, 2020, Astar 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 December 31, 2020. The initial chart of accounts for the accounting system indudes these items Accoun Account Name Accoun Account Name 101 Cash 301 Aster Turana Capital 105 Accounts Receivable 302 Astar 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 Chartable Donations Expense Part A Required 1. Set up balance column accounts based on the chart of accounts provided. 2. Prepare journal entries to record each of the following October transactions 3. Post the October entries. 4. Prepare a trial balance at October 31, 2020 S. Prepare an income statement and a statement of changes in equity for the month ended October 31, 2020, as well as a balance sheet at October 31, 2020. Oct 1 Aster Turane invested $32,000 cash, a 55040 computer system, and $12,000 of office equipment in the business 2 Paid she months of rent in advance: $9,300. 3 Purchased computer supplies on credit for $1.975 from Triple-One Supplies 5 Paid $8.640 cash for one year's premium on a property and liability insurance policy 6 Bed Norton Electric $3.300 for installing a new computer system. 8 Paid for the computer supplies purchased from Triple-One Supplies 10 Hred Donald Gee as a parlame assistant for S345 per day, as needed 12 Slied Norton Electric another 51.850 for computer services rendered 15 Received $1,650 from Norton Electric on its account. 17 Pald $375 to repareguipment damaged when moving into the new office 20 Paid $1.950 for an advertisement in the local newspaper 22 Received the balance owing from Norton Electric on its account 28 elled Whistler Resort 56,400 for services 31 Paid Donald Gee for nine days' work 31 Aster Turane withdraw 51.200 cash from the business for personal use Part B Required 6. Prepare oumal entries to record each of the following November transactions 7. Post the November entries. 8. Prepare a trial balance at November 30, 2020 9. Prepare an income statement and a statement of changes in equity for the two months ended November 30, 2020, as well as a balance sheet at Novembe 30. 2020. Nov. 1 Reimbursed Astar Turana's business automobile expense for 2,530 kilometres at $1.60 per kilometre. 2 Received $7,920 cash from Langara Lodge for computer services rendered s Purchased 5420 of computer supplies for cash from Triple-One Supplies 8 Billed Dinwoody Entertainment 54,220 for computer Services rendered 13 Notified by Kirsatta Groceries that Aster's bid of $6.950 for an upcoming project was accepted 18 Received 54,200 from Whistler Resort against the bil dated October 20 22 Donated 5600 to the Hope Mission in the company's name. 24 Completed work for Kinsetta Groceries and sent a bill for the agreed amount 25 Sent another bil to Whistler Resort for the past due amount of $2,200. 28 Reimbursed Aster Turana's business automobile expense for 1.050 kilometres at $1.50 per kilometre 30 Paid Donald Goo for 17 days' work. 20 Astor Turane withdrew 51.400 cash from the business for personal use