SERIAL PROBLEM - Aster Systems This comprehensive problem starts in this chapter 2 and continces in Chapters 3, 4 and 5 On October 1, 2020. 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 your 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 includes these items Account Number 101 106 126 128 131 163 167 201 Account Name Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accounts Payable Account Number Account Namo 301 Aster Turane, Capital 302 Aster Turane, Withdrawals 403 Computer Services Revenue 623 Wages Expense 655 Advertising Expense 676 Mileage Expense 684 Repairs Expense, Computer 699 Charitable 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 Astar Turane invested $32,000 cash a $5,040 computer system, and $12,000 of office equipment in the business, 2 Paid six months of rent in advance 59,300 3 Purchased computer supplies on credit for $1,975 from Triple-Onu Supplies 5 Pald S8.540 cash for one year's premium on a property and ability insurance policy 6 Billed Norton Electric $3,309 for installing a new computer system, Paid for the moment les purchased from Triple-One Supplies SERIAL PROBLEM - Aster Systems This comprehensive problem starts in this chapter 2 and continces in Chapters 3, 4 and 5 On October 1, 2020. 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 your 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 includes these items Account Number 101 106 126 128 131 163 167 201 Account Name Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accounts Payable Account Number Account Namo 301 Aster Turane, Capital 302 Aster Turane, Withdrawals 403 Computer Services Revenue 623 Wages Expense 655 Advertising Expense 676 Mileage Expense 684 Repairs Expense, Computer 699 Charitable 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 Astar Turane invested $32,000 cash a $5,040 computer system, and $12,000 of office equipment in the business, 2 Paid six months of rent in advance 59,300 3 Purchased computer supplies on credit for $1,975 from Triple-Onu Supplies 5 Pald S8.540 cash for one year's premium on a property and ability insurance policy 6 Billed Norton Electric $3,309 for installing a new computer system, Paid for the moment les purchased from Triple-One Supplies