- C C A Transaction 3 x fc 1 B Description of transaction June 1: Byte of Accounting, Inc. issued 2,650 shares of its common stock to Jeremy after $31,320 in cash and computer equipment with a fair market value of $45,530 were received 01. June 1: Byte of Accounting, Inc. issued 2,325 shares of its common stock after acquiring from Courtney $53,650 in cash, computer equipment with a fair market value of $12,760 and office equipment with a fair value of $1,015. June 1: Byte of Accounting, Inc. acquired $92,800 in cash from Megan Mccallister and issued 3,200 shares of its common stock. June 2: A down payment of S31,000 in cash was made on additional computer equipment that was purchased for $155.000. A five-year note was executed by Byte for the balance. June 4: Additional office equipment costing $700 was purchased on credit from Discount Computer Corporation June 8: Unsatisfactory office equipment costing $140 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte 15 FAQ Welcome Chart of Accounts Transactions General Journal Worksheet Income St ... Type here to search June 10: Byte paid $23.750 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 $4.968 in cash. The effective date of the policy was June 16. June 16: Computer consultation revenue of $6,250 was received June 16: Byte purchased a building and the land it is on for $113,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $18,000, The balance of the cost is to be allocated to the building. Byte made a cash down payment of $11,300 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1. 11. June 17: Cash of $9,600 was paid for rent for June July August and September. Put the total amount into the Prepaid Rent account 12. June June 17: Received a bill of $300 from the local newspaper for advertising 13 June 21: Billed various miscellaneous local customers 54,300 for consulting services performed FAQ Welcome Chart of Accounts Transactions General Journal Worksheet Income St ... C A June 21: A fax machine for the office was purchased for $725 cash. 15. June 21: Accounts payable in the amount of $560 were paid. 16. June 22: Paid the advertising bill that was received on June 17. 17 June 22: Received a bill for $1,140 from Computer Parts and Repair Co. for repairs to the computer equipment 18. June 22: Paid salaries of $985 to equipment operators for the week ending June 18. 19. June 23: Cash in the amount of $3,445 was received on billings June 23: Purchased office supplies for S705 on credit. Record the purchase as an increase to the 20. assets. 44 21 June 28: Billed S5,700 to miscellaneous customers for services performed to June 25. 22 June 29: Cash in the amount of $5,400 was received for billings ... FAQ Welcome Chart of Accounts Transactions General Journal Worksheet income St ... 23. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co. / OUL / 24 June 29: Paid salaries of $985 to equipment operators for the week ending June 25 25. June 30: Received a bill for the amount of $890 from O&G Oil and Gas Co. 26. June 30: Paid a cash dividend of $0.19 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, July, August and September. Expense the amount associated with one month's rent. 8 S A physical inventory showed that only $292.00 worth of office supplies remained on hand as of June 30. 29. The annual interest rate on the mortgage payable was 8.75 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred FAQ Welcome Chart of Accounts Transactions General Journal Worksheet income St ... - 15 Type here to search o ea