$01.02.03.04.$ X $05.06.07.$ X $08.09.10.11.12.13.14.15.$ June $1$: Byte of Accounting, Inc. issued $2,680$ shares of its common stock to Jeremy alter $[$$$23,520$ in cash and computer equipment with a fair market value of $$32,760$ were received. June $1$: Byte of Accounting, Inc. issued $2,562$ shares of its common stock after acquiring from Courtney $$40,950$ in cash, computer equipment with a fair market value of $$12,180$ and office equipment with a fair value of $$672.$ June $1$: Byte of Accounting, Inc. acquired $$63,000$ in cash from issued $3,000$ shares of its common stock. and June $2$: A down payment of $$27,000$ in cash was made on additional computer equipment that was purchased for $$135,000.$ A five$-$year note was executed by Byte for the balance. June $4$: Additional office equipment costing $$300$ was purchased on credit from Discount Computer Corporation. June $8$: Unsatisfactory office equipment costing $$60$ was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. June $10$: Byte paid $$20,750$ on the balance it owed on the June $2$ purchase of computer equipment. June $14$: A one$-$year insurance policy covering its computer equipment was purchased by Byte for $$6,144$ in cash. The effective date of the policy was June $16.$ June $16$: Computer consultation revenue of $$7,000$ was received. June $16$: Byte purchased a building and the land it is on for $$101,000,$ to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $$16,000.$ The balance of the cost is to be allocated to the building. Byte made a cash down payment of $$10,100$ and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July $1.$ June $17$: Cash of $$5,000$ was paid for rent for June and July. Put the total amount into the Prepaid Rent account. June $17$: Received a bill of $$250$ from the local newspaper for advertising. June $21$: Billed various miscellaneous local customers $$4,800$ for consulting services performed. June $21$: A fax machine for the office was purchased for $$825$ cash. June $21$: Accounts payable in the amount of $$240$ were paid$\mathrm{.}02.$ Transaction Description of transacco $16.$ X June $22$: Paid the advertising bill that was received on June $17.1718.19.$ X $20.21.22.23.24.25$ X $26.27.28.29.30.$ June $22$: Received a bill for $$1,115$ from Computer Parts and Repair Co$.$ for repairs to the computer equipment. June $22$: Paid salaries of $$860$ to equipment operators for the week ending June $18.$ June $23$: Cash in the amount of $$3,845$ was received on billings. June $23$: Purchased office supplies for $$705$ on credit. Record the purchase as an increase to the assets. June $28$: Billed $$6,015$ to miscellaneous customers for services performed to June $25.$ June $29$: Cash in the amount of $$5,699$ was received for billings. June $29$: Paid the bill received on June $22,$ from Computer Parts and Repairs Co$.$ June $29$: Paid salaries of $$860$ to equipment operators for the week ending June $25.$ June $30$: Received a bill for the amount of $$890$ from O & G Oil and Gas Co$.$ June $30$: Paid a cash dividend of $$0\mathrm{.}22$ per share to the three shareholders of Byte. $[$IMPORTANT NOTE: The number of shares of capital stock outstanding can be determined from the first three transactions.$]$ Adjusting Entries $-$ Round to two decimal places. The rent payment made on June $17$ was for June and July. Expense the amount associated with one month's rent. A physical inventory showed that only $$292\mathrm{.}00$ worth of office supplies remained on hand as of June $30.$ The annual interest rate on the mortgage payable was $9\mathrm{.}00$ percent. Interest expense for one$-$half month should be computed because the building and land were purchased and the liability incurred on June $16.$ Information relating to the prepaid insurance may be obtained from the transaction recorded on June $14.$ Expense the amount associated with one half month's insurance$\mathrm{.}03.$ nsaction $31.32.33.34.35.36.37.38.$ Description of transaccon A review of Byte's job worksheets show that there are unbilled revenues in the amount of S$5,751$ for the period of June $28-30.$ The fixed assets have estimated useful lives as follows: Building $-31\mathrm{.}5$ years Computer Equipment $-5\mathrm{.}0$ years Office Equipment $-7\mathrm{.}0$ years Use the straight$-$line method of depreciation. Management has decided that assets purchased during a month are treated as if purchased on the first day of the month. The building's scrap value is $$8,500.$ The office equipment has a scrap value of $$400.$ The computer equipment has no scrap value. Calculate the depreciation for one month. A review of the payroll records show that unpaid salaries in the amount of $$516$ are owed by Byte for three days, June $28-30.$ The note payable relating to the June $2,$ and $10$ transactions is a five$-$year note, with interest at the rate of $12$ percent annually. Interest expense should be computed based on a $360$ day year. $[$IMPORTANT NOTE: The original note on the computer equipment purchased on June $2$ was $$108,000.$ On June $10,$ eight days later, $$20,750$ was repaid. Interest expense must be calculated on the $$108,000$ for eight days. In addition, interest expense on the $$87,250$ balance o the loan $($$$108,000$ less $$20,750-$ $$87,250)$ must be calculated for the $20$ days remaining in the month of June.$]$ Income taxes are to be computed at the rate of $25$ percent of net income before taxes. $($IMPORTANT NOTE: Since the income taxes are a percent of the net income you will want to prepare the Income Statements through the Net Income Before Tax line. The worksheet contains all of the accounts and their balances which you can then transfer to the appropriate financial statement.$]$ Closing Entries Close the revenue accounts. Close the expense accounts. Close the income summary account. Help me with the question #$37$