AutoS A06961 -Compatibility Mode- Saved to OneDrive Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Cut Copy AutoSum-A B 1 u-1-1. A- ,F Merge & Center- Fill Clear s-% , | Conditional Format as Cell Insert Delete Format Formatting Table Styles Sort & Find & Filter Select Format Painter Font Alignment Cells Editing E73 June 1: Hudson Bloom invested $144,693.00 cash and computer equipment with a fair market value of 40,770.00 in his new business, Byte of Accountin 01 June 1: Check # 5000 was used to purchased computer equipment costing $14.580.00 Ortiz.The invoice number was 20117 June 1: Check # 5001 was use The invoice number was 87417 equipment costing $783.00 from Office Express 03 10 June 2: Check # 5002 was used to make a down payment of$35,000.00 on additional computer 04. equipment that was purchased from Royce Computers, invoice number 76542. The full price of the was $175,000.00. A five-year note was executed by Byte for the balance 12 05 June 4: Addlitional office equipment costing S600.00 was purchased on credit from Discount Computer Corporation.The invoice number was 98432 13 14 June 8: Unsatisfactory office equipment costing S120.00 from invoice number 98432 was returmed to Discount Computer for credit to be ainst the out balance owed by Byte 15 16 June 10: Check # 5003 was used to make a $26,750.00 pannent reducing the prinicpal owed on the June 2 purchase of comouter eauioment from Rovce Comput 07 Introduction FAQ Welcome Chart of Accounts Transactions General Journal Workshi Ready + 100% 11:20 AM O Type here to search 3/6/2019 13 AutoS A06961 -Compatibility Mode- Saved to OneDrive Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Cut E Copy Format Painter AutoSum . A Fill B 1 u-1-1. A- ,F Merge & Center- s-% , | Conditional Format as Cell Insert Delete Format Formatting Table Styles Sort & Find & Filter Select Clear Font Alignment Cells Editing E73 June 10: Check # 5003 was used to make a S26, 750.00 payment reducing the prinicpal owed on the June 07 e C June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer 08. equipment for $5,976.00 from Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387 19 20 09. June 16: A check in the amount of $7,500.00 was received for services performed for Pitman Pictures June 16: Byte purchased a building and the land it is on for $125,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at S20,000.00. The balance 10, ofthe cost is to be allocated to the building. Check # 5005 was used to make the down payment of S12,500.00. A thirty year mortgage with an inital payement cdue on August 1st, was established for the June 1 7: 11 Check # 5006 forse,400.00 was paid for rent ofthe of ce space for June, July. August and 25 26 June 17: Received invoice number 26354 in the amount of $375.00 from the local newspaper for Introduction FAQ Welcome Chart of Accounts Transactions General Journal Workshi... Ready + 100% 11:20 AM O Type here to search 3/6/2019 13 AutoS A06961 Compatibility Mode Saved to OneDrive Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do AutoSum . A Fill Cut E Copy B 1 u-1-1. A- ,F Merge & Center- s-% , | Conditional Format as Cell Insert Delete Format Formatting Table Styles Sort & Find & Filter Select Format Painter Clear Font Alignment Cells Editing E73 29 13. June 21 30 in the amount of $480.00 were paid with Check 5007 June 21: Check 5008 was used to purchase a fax machine for the office from Office Machines Express for S650.00. The invoice mumber was 975-328 331. June 21: Billed various miscellaneous local customers $4,100.00 for consulting services performed. June 22. Check June 18. I 5009 was used to pay salaries of $810.00 to equipment operators for the week ending 16 35 36 taxes June 22: Received a bill for S1,115.00 from Computer Parts and Repair Co. for repairs to the computer The invoice mumber was 43254 39 18 June 22: Check # 5010 was used to pay the adv bill that was received on June 17 19. June 23: Purchased office supplies for S705.00 from Staples on account. The invoice number was 65498 41 43 20 June 23: Cash in the amount of $3,285.00 was received on 45 21. June 28: Billed S5,700.00 to miscellaneous customers for services to June 25 Introduction FAQ Welcome Chart of Accounts Transactions General Journal Workshi... Ready + 100% O Type here to search 11:20 AM 3/6/2019 AutoS A06961 -Compatibility Mode- Saved to OneDrive Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Cut E Copy Format Painter AutoSum . A Fill B 1 u-1-1. A- ,F Merge & Center- s-% , | Conditional Format as Cell Insert Delete Format Formatting Table" Styles Sort & Find & Filter Select Clear Font Alignment Cells Editing E73 22. June 29: Paid the bil received on June 22, from Computer Parts and Repairs Co with Check # 5011 47 49 23. June 29: Cash in the amount of $5.400.00 was received for June 29: Check # 5012 was used to pay salaries of $810.00 to equipment operators for the week ending June 25. I June 30: Received a bill for the amount of S790.00 from O & G Oil and Gas Co. The invoice number was 784537 25 June 30: Check # 5013 was used to pay for airline tickets of $1,900.00 to send the kids to Grandma Elen for the July 4th 57 Adjusting Entries Round to two decimal places. The rent payment made on June 17 was for June, July, August and September. Expense the amount associated with one month's rent 27 28. A physical inventory showed that only S292.00 worth of office supplies remained on hand as of June 30 61 Introduction FAQ Welcome Chart of Accounts Transactions General Journal Workshi... Ready + 100% 11:20 AM O Type here to search 3/6/2019 13 AutoS A06961 Compatibility Mode Saved to OneDrive Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Cut Copy AutoSum-A B 1 u-1-1. A- ,F Merge & Center- Fill Clear s-% , | Conditional Format as Cell Insert Delete Format Formatting Table" Styles Sort & Find & Filter Select Format Painter Font Alignment Cells Editing E73 The annual interest rate on the mortgage payable was 9.25 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16 65 30. Recorda to reflect that one half month's insurance has A review of Byte's job worksheets show that there are unbilled revenues in the amount of S8,750.00 for d of June 28-30 The fixed assets have estimated useful lives as follows: 70 Building 31.5 years Computer Equipment - 5.0 years 72 32. Office Equipment 7.0 years Use the straight-ine 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 S500.00. The office equipment has a scrap value of S350.00. The computer equipment has no scrap vahe. Calculate for one month. 73 74 33. A review of the payrol ecords show that umpaid salaries im the amount of S486.00 are owed by Byte for 75 three days, June 28 30. I taxes 76 note pavable to Rovce Computers (transactions 04 and 07) is a five-vear note, with interest at the rate Introduction FAQ Welcome Chart of Accounts Transactions General Journal Worksh Ready + 100% 11:21 AM O Type here to search 3/6/2019 13 AutoS A06961 Compatibility Mode Saved to OneDrive Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Cut AutoSum-A Fill Clear E Copy B 1 u-1-1. A- ,F Merge & Center- s-% , | Conditional Format as Cell Insert Delete Format Formatting Table Styles Sort & Find & Filter Select Format Painter Font Alignment Cells Editing E73 The note payable to Royce Computers (transactions 04 and 07) is a five-year note, with interest at the rate of 12 percent 34 Interest expense should be computed based on a 360 83 35. Close the revenue accounts. 85 36. Close the 86 87 37. Close the income accounts account 89 38. Close the withdrawals account. 92 94 97 100 101 Introduction FAQ Welcome Chart of Accounts Transactions General Journal Workshi... Ready + 100% 11:21 AM O Type here to search 3/6/2019 13