Based on the information on the "Bank Reconciliation" sheet prepare the journal entry required to increases cash. 41 Based on the information on the "Bank Reconciliation" sheet prepare the journal entry required to decreases cash. 42. 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 43. Close the revenue accounts. 44. Close the expense accounts. 45. Close the income summary account 46. Close the dividends account. 50.00 40 40 Jun 30 Jun 30 1110 Cash 1 120 Accounts Receivable deposti wrongly recorded deposti wrongly recorded 50.00 3.275.000 41 41 Jun 30 Jun 301 1 120 Accounts Receivable 1110 Cash INSF Check and changes INSF Check and charges 207 3,275.00 208 209 210 11 421 3,964.53 Jun 30 Jun 30 5 150 Income Tax Expense 2108 Income Taxes Payable 42 Need a Description 3,964.53 212 213 4 3Jun 30 43 Jun 30 4 100 Computer & Consulting R Closing entry 3400 Income Summary Closing entry 35,085,00 35,085.00 215 216 217 218 219 220 221 44 222 Jun 30 Jun 30 Jun 301 Jun 301 Jun 30 Jun 30 Jun 30 Jun 301 Jun 30 Jun 30 Jun 30 Jun 30 3400 Income Summary Closing entry 5010 Rent Expense Closing entry 5020 Salary Expense Closing entry 5030 Advertising Expense Closing entry 5040 Repair & Maint. Expense Closing entry 505010 Gas Expense Closing only 5080 Supplies Expense Closing entry 5000 Interest Expense Closing entry 5100 insurance Expense Closing entry 5110 Depreciation Expense Closing entry 5150 Income Tax Expense Closing entry 5120 Bad Debt Expense Closing entry 2,100.00 2.496.00 475.00 1.100.00 840.00 2,390.00 1 212.07 214.00 7,807 21 3,964.53 701.70 235 45 11,893.59 Jun 30 Jun 30 237 3400 Income Summary 3200 Retained Eamings Closing entry Closing entry 11,893.59 239 240 11.075.68 46 46 Jun 30 Jun 30 3200 Retained Eamings 3300 Dividends Closing entry Closing only 242 243 1,075.68 245 246 X PublicBank P.O. Box 5551212, Mami, Florida 33999 Ph (305) 555-1212 Byte of Accounting 123 Speed Lane Miami, Florida 33999 Previous Balance Account Number Statement Date 33999999 6/30/2003 Deposits/Credits Checks/Debits 198.805.00 73,760.00 123.045.00 123.045.00 Ending Balance Activity in date order Date Jun 01 Jun 07 Jun 15 Jun 16 Jun 21 Jun 22 Jun 22 Jun 22 Jun 23 Jun 24 Jun 26 Jun 26 Jun 27 Description Deposit Paid check #5002 Paid check #5003 Deposit Pald check # 5005 NSF NSF service charge Pald check # 5006 Deposit Paid check # 306 Pald check # 5007 Paid check #5008 Paid check 85009 Elec Remit AT&T Telephone Paid check # 5010 Service Charge-Checks Ending Balance Amount 186,800.00 -28,000.00 -21,500.00 6,510.00 -10,700.00 -3,250.00 -25.00 6,300.00 3,495.00 -1,300.00 -240.00 -725.00 -960.00 -240.00 475.00 45.00 Balance -186,800.00 158.800,00 137,300.00 143.810.00 133, 110.00 129.880.00 129.835.00 123,535.00 127.030.00 125.730.00 125.490.00 124,785.00 123,805.00 123.565.00 123,090.00 123,045.00 123,045.00 Jun 27 Jun 27 Jun 29 Check #306 is not our check Our policy is to charge the customer for any charges related to NSF checks The Deposit on Jun 16 was incorrectly recorded by the bank. The Deposit on Jun 23 was correctly recorded by the bank. We do not modify the original joumal entry. 085238888 ESSESESSRENEREERIDE HEEEEEEEE o court W ednom BSS HACCP Benews Worksheet comes Bank Reconciation General Journal Transactions Velcome Chart of Accounts Format -Unsaved Workbooks. We were able to save changes to one or more files. Do you want to recover them? 07 07 Jun 08 Jun 08 1150 Office Supplies 2101 Accounts Payable Office Supplies office Supplies 2,000.00 1 2,000.00 21,500.00 08 08 Jun 10 Jun 10 2 202 Notes Payable 1 110 Cash Payment balance of Computer equip Payment balance of Computer equip 21,500.00 5, 136.00 Jun 14 Jun 14 1130 Prepaid Insurance 1 110 Cash 1 y prepaid insurance ear prepaid insurance 5,136.00 1 6 .150.00 10 10 Jun 16 Jun 16 4 1110 Cash Rov for comp consult 100 Computer & Consulting R Rev for comp consult 6,150.00 Jun 16 Jun 16 Jun 16 Jun 16 SEE EI 1411 Building 510 Land 1110 Cash 2201 Mortgage Payable 90.000.00 17,000.00 Acquisition of Land and Building Acquisition of Land and Building Acquisition of Land and Building Acquisition of Land and Building 10.700.00 96,300.00 Jun 17 Jun 17 1140 Prepaid Rent 1110 Cash Rent, or june, july. august Rent Torjun july. august 6.300.00 6,300.00 13 Jun 17 Jun 17 5030 Advertising Expense 2101 Accounts Payable Advertising expense Advertis 475.00 9858SRENCERRRE counts Payable Account Payable 240.00 Jun 21 1211 Offic 725 00 General Journal Worksheet Income State MacBook nsaved Workbooks. We were able to save You U UNDUM F G 1,190.00 18 18 Jun 22 Jun 22 5040 Repairs & Maint. Expense Computer parts repair 2101 Accounts Payable Computer parts repair 1,190 475.00 19 19 Jun 22 2 101 Accounts Payable Jun 221110 Cash Pay advertising from june 17 Pay advertising from june 17 4 75.0 20 20 Jun 23 Jun 23 1,000.00 1 150 #REFI 2101 Accounts Payable Purchase of office supplies Purchase of office supplies 1,000.00 21 Jun 23 Jun 23 1110 Cash 1120 Accounts Receivable Amount received on billing Amount received on billing 3,445.00 3,445.00 Jun 28 Jun 28 1120 Accounts Receivable 4100 Computer & Consulting Services perfomed Services perfomed 5.385.00 UN 5,385.00 ss17 AT 2 Jun 29 2101 Accounts Payable 1110 Cash Cash received forbins Cash received for billings 1,190,00 1.190.00 1110 Cash 1120 Accounts Receivable Cash received for Cash received for billing 5,101.00 38EURE 020 Salary Expense equip operator salaries equip operator salaries 960.00 960.00 General Journal Worksheet MacBo Based on the information on the "Bank Reconciliation" sheet prepare the journal entry required to increases cash. 41 Based on the information on the "Bank Reconciliation" sheet prepare the journal entry required to decreases cash. 42. 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 43. Close the revenue accounts. 44. Close the expense accounts. 45. Close the income summary account 46. Close the dividends account. 50.00 40 40 Jun 30 Jun 30 1110 Cash 1 120 Accounts Receivable deposti wrongly recorded deposti wrongly recorded 50.00 3.275.000 41 41 Jun 30 Jun 301 1 120 Accounts Receivable 1110 Cash INSF Check and changes INSF Check and charges 207 3,275.00 208 209 210 11 421 3,964.53 Jun 30 Jun 30 5 150 Income Tax Expense 2108 Income Taxes Payable 42 Need a Description 3,964.53 212 213 4 3Jun 30 43 Jun 30 4 100 Computer & Consulting R Closing entry 3400 Income Summary Closing entry 35,085,00 35,085.00 215 216 217 218 219 220 221 44 222 Jun 30 Jun 30 Jun 301 Jun 301 Jun 30 Jun 30 Jun 30 Jun 301 Jun 30 Jun 30 Jun 30 Jun 30 3400 Income Summary Closing entry 5010 Rent Expense Closing entry 5020 Salary Expense Closing entry 5030 Advertising Expense Closing entry 5040 Repair & Maint. Expense Closing entry 505010 Gas Expense Closing only 5080 Supplies Expense Closing entry 5000 Interest Expense Closing entry 5100 insurance Expense Closing entry 5110 Depreciation Expense Closing entry 5150 Income Tax Expense Closing entry 5120 Bad Debt Expense Closing entry 2,100.00 2.496.00 475.00 1.100.00 840.00 2,390.00 1 212.07 214.00 7,807 21 3,964.53 701.70 235 45 11,893.59 Jun 30 Jun 30 237 3400 Income Summary 3200 Retained Eamings Closing entry Closing entry 11,893.59 239 240 11.075.68 46 46 Jun 30 Jun 30 3200 Retained Eamings 3300 Dividends Closing entry Closing only 242 243 1,075.68 245 246 X PublicBank P.O. Box 5551212, Mami, Florida 33999 Ph (305) 555-1212 Byte of Accounting 123 Speed Lane Miami, Florida 33999 Previous Balance Account Number Statement Date 33999999 6/30/2003 Deposits/Credits Checks/Debits 198.805.00 73,760.00 123.045.00 123.045.00 Ending Balance Activity in date order Date Jun 01 Jun 07 Jun 15 Jun 16 Jun 21 Jun 22 Jun 22 Jun 22 Jun 23 Jun 24 Jun 26 Jun 26 Jun 27 Description Deposit Paid check #5002 Paid check #5003 Deposit Pald check # 5005 NSF NSF service charge Pald check # 5006 Deposit Paid check # 306 Pald check # 5007 Paid check #5008 Paid check 85009 Elec Remit AT&T Telephone Paid check # 5010 Service Charge-Checks Ending Balance Amount 186,800.00 -28,000.00 -21,500.00 6,510.00 -10,700.00 -3,250.00 -25.00 6,300.00 3,495.00 -1,300.00 -240.00 -725.00 -960.00 -240.00 475.00 45.00 Balance -186,800.00 158.800,00 137,300.00 143.810.00 133, 110.00 129.880.00 129.835.00 123,535.00 127.030.00 125.730.00 125.490.00 124,785.00 123,805.00 123.565.00 123,090.00 123,045.00 123,045.00 Jun 27 Jun 27 Jun 29 Check #306 is not our check Our policy is to charge the customer for any charges related to NSF checks The Deposit on Jun 16 was incorrectly recorded by the bank. The Deposit on Jun 23 was correctly recorded by the bank. We do not modify the original joumal entry. 085238888 ESSESESSRENEREERIDE HEEEEEEEE o court W ednom BSS HACCP Benews Worksheet comes Bank Reconciation General Journal Transactions Velcome Chart of Accounts Format -Unsaved Workbooks. We were able to save changes to one or more files. Do you want to recover them? 07 07 Jun 08 Jun 08 1150 Office Supplies 2101 Accounts Payable Office Supplies office Supplies 2,000.00 1 2,000.00 21,500.00 08 08 Jun 10 Jun 10 2 202 Notes Payable 1 110 Cash Payment balance of Computer equip Payment balance of Computer equip 21,500.00 5, 136.00 Jun 14 Jun 14 1130 Prepaid Insurance 1 110 Cash 1 y prepaid insurance ear prepaid insurance 5,136.00 1 6 .150.00 10 10 Jun 16 Jun 16 4 1110 Cash Rov for comp consult 100 Computer & Consulting R Rev for comp consult 6,150.00 Jun 16 Jun 16 Jun 16 Jun 16 SEE EI 1411 Building 510 Land 1110 Cash 2201 Mortgage Payable 90.000.00 17,000.00 Acquisition of Land and Building Acquisition of Land and Building Acquisition of Land and Building Acquisition of Land and Building 10.700.00 96,300.00 Jun 17 Jun 17 1140 Prepaid Rent 1110 Cash Rent, or june, july. august Rent Torjun july. august 6.300.00 6,300.00 13 Jun 17 Jun 17 5030 Advertising Expense 2101 Accounts Payable Advertising expense Advertis 475.00 9858SRENCERRRE counts Payable Account Payable 240.00 Jun 21 1211 Offic 725 00 General Journal Worksheet Income State MacBook nsaved Workbooks. We were able to save You U UNDUM F G 1,190.00 18 18 Jun 22 Jun 22 5040 Repairs & Maint. Expense Computer parts repair 2101 Accounts Payable Computer parts repair 1,190 475.00 19 19 Jun 22 2 101 Accounts Payable Jun 221110 Cash Pay advertising from june 17 Pay advertising from june 17 4 75.0 20 20 Jun 23 Jun 23 1,000.00 1 150 #REFI 2101 Accounts Payable Purchase of office supplies Purchase of office supplies 1,000.00 21 Jun 23 Jun 23 1110 Cash 1120 Accounts Receivable Amount received on billing Amount received on billing 3,445.00 3,445.00 Jun 28 Jun 28 1120 Accounts Receivable 4100 Computer & Consulting Services perfomed Services perfomed 5.385.00 UN 5,385.00 ss17 AT 2 Jun 29 2101 Accounts Payable 1110 Cash Cash received forbins Cash received for billings 1,190,00 1.190.00 1110 Cash 1120 Accounts Receivable Cash received for Cash received for billing 5,101.00 38EURE 020 Salary Expense equip operator salaries equip operator salaries 960.00 960.00 General Journal Worksheet MacBo