1. Using the following information to construct the appropriate t-accounts. Transactions 1. Founded Hurricane Manufacturing Systems paying $600,000 cash for capital stock Bought computer equipment on credit from HP for the amount $150,000 3. Purchased an office building on credit for $300,000 on credit and provided a 10% down payment in cash Sold software to Asfour LTD in the amount of $235,000, 50% cash was collected and the balance was put on credit. 5. Paid $50,000 to HP for computer equipment. 6. Paid salaries and wages of $33,000 Sold consulting services to M. Asfour on account for $260,000 8. Returned $20,000 in computer equipment to HP 9. Purchased operating software of $30,000 10. Made first annual mortgage payment on the building of $27,000 from cash. 11. Determine and apply first year depreciation expense on computer equipment using MACRS which has a useful life of 5 years. 12. Determine and apply first year depreciation expense on office building using straight-line method which has a useful life of 30 years. 13. Paid taxes with cash. Use the 34% effective tax rate to calculate the income taxes for the organization. Accounts to be used for this scenario are as follows: Cash Accounts Receivable Computer Equipment Building Capital Stock Accounts Pavable Mortgage Payable Sales Salaries Expense Software Expense Depreciation Expense TaxeExpense