can someone please check my numbers and help me out on #37. (also, im not very confident at all on #32-#39) The all white is the list of transactions and the yellow is ky journal entries.

Paste 88 Transaction Shamane arston 5795 Description of transaction June 1: Byte of Accounting, Inc. issued 2,640 shares of its common stock to Jeremy after $27,000 in cash and computer equipment with a fair market value of $39,000 were received. 01. 02 June 1: Byte of Accounting, Inc. issued 1,974 shares of its common stock after acquiring from Courtney $36,250 in cash, computer equipment with a firir market value of $12,000 and office equipment with a fair value of $1,100. 03. June 1: Byte of Accounting, Inc. acquired $80,000 in cash from shamaric alston and issued 3,200 shares of its common stock 04 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. 0 1 OS. June 4: Additional office equipment costing $700 was purchased on credit from Discount Computer Corporation 12 53 06. June 8: Unsatisfactory office equipment costing $140 was retumed to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 14 15 07. June 10: Byte paid $20,750 on the balance it owed on the June 2 purchase of computer equipment. 16 17 08 June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $5,472 in cash. The effective date of the policy was June 16. 18 19 20 09. June 16: Computer consultation revenue of S7,750 was received 21 10. June 16: Byte purchased a building and the land it is on for $149,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $24,000. Talance of the cost is to be allocated to the building. Byte made a cash down payment of $14,900 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1. 23 11. June 17: Cash of 57,600 was paid for rent for June, July, August and September. Put the total amount into the Prepaid Rent account 24 12. June 17: Received a bill of $375 from the local newspaper for advertising 25 26 27 28 29 30 31 13 June 21: Billed various miscellaneous local customers $4,200 for consulting services performed June 21: A fax machine for the office was purchased for $850 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 $1,090 from Computer Parts and Repair Co, for repairs to the computer equipment 18. June 22: Paid salaries of $835 to equipment operators for the week ending June 18. 19. June 23: Cash in the amount of $3,365 was received on billings. 20. June 23: Purchased office supplies for $555 on credit. Record the purchase as an increase to the assets. 21 June 28: Billed $6,015 to miscellaneous customers for services performed to June 25. 22 June 29: Cash in the amount of $5,699 was received for billings. 23. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co. 24. June 29: Paid salaries of $835 to equipment operators for the week ending June 25. June 30: Received a bill for the amount of $790 from O & GOil and Gas Co. 25 26. June 30: Paid a cash dividend of $0.22 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. ] 6 7 Adjusting Entries - Round to two decimal places. The rent payment made on June 17 was for June, July, stigust and September. Expense the amount associated with one month's rent 27. 8 28 A physical inventory showed that only $225.00 worth of office supplies remained on hand as of June 30. 0 31 29. The annual interest rate on the mortgage payable was 8.50 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. 30. 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. 85 8 A 31. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $5,250 for the period of June 28-30 32 The fixed assets have estimated useful lives as follows: Building - 31.5 years Computer Equipment - 5.0 years Office Equipment - 7.0 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 $8,000. The office equipment has a scrap value of $450. The computer equipment has no scrap value. Calculate the depreciation for one month, 33. A review of the payroll records show that unpaid salaries in the amount of $501 are owed by Byte for three days, June 28 - 30. 34 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 of the loan ($108,000 less $20,750 = 587,250) must be calculated for the 20 days remaining in the month of Junc.) 35. 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.] 81 82 Closing Entries 83 84 85 88 36. Close the revenue accounts 37. Close the expense accounts. 87 88 38. Close the income summary account 89 90 39. Close the dividends account. 91 12 93 94 NE Transaction Account Debit Date Credit Name Description 27,000.00 39,000.00 01 01 01 Jun 01 Jun 01 Jun 01 common stock issue to Jeremy common stock issue to jeremy common stock issue to jeremy 1110 Cash 1311 Computer Equip. 3100 Capital Stock 66,000.00 02 02 02 02 Jun 01 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip. 1211 Office Equip 3100 Capital Stock Common stock issued Common stock issued Common stock issued Common stock issued 36,250.00 12.000.00 1,100.00 49,350.00 80,000.00 03 03 Jun 01 Jun 01 1110 Cash 3100 Capital Stock Common stock issued Common stock issued 80,000.00 04 04 04 Jun 02 Jun 02 Jun 02 1311 Computer Equip. 1110 Cash 2202 Notes Payable computer bought in cash and note pa 135,000.00 computer bought in cash and note pa 27,000.00 computer bought in cash and note payable 162,000.00 700.00 05 05 Jun 04 Jun 04 1211 Office Equip 2101 Accounts Payable equipment bought on credit equipment bought on credit 700.00 1 2 3 4 5 6 7 8 19 30 31 2 33 34 35 36 37 3B 39 40 06 06 Jun 08 Jun 08 2101 Accounts Payable 1211 Office Equip 140.00 unsatisfactory office equipment unsatisfactory office equipment 140.00 07 07 Jun 10 Jun 10 2202 Notes Payable 1110 Cash byte paid the owed balance on Jun 2 byte paid the owed balance on Jun 2 20.750.00 20.750.00 08 08 Jun 14 Jun 14 1130 Prepaid Insurance 1110 Cash one year Insurance policy one year insurance policy 5.472.00 7.750.00 09 09 Jun 16 Jun 16 1110 Cash cash received for consulting 4100 Computer & Consulting cash received for consulting 7.750.00 125,000.00 24,000.00 10 10 10 10 Jun 16 Jun 16 Jun 16 Jun 16 1510 Land 1411 Building Cost 1110 Cash 2201 Mortgage Payable land and building purchased land and building purchased land and building purchased land and building purchased paid prepaid rent paid prepaid rent 14,900.00 134 100.00 11 7.600.00 Jun 17 Jun 17 1140 Prepaid Rent 1110 Cash 7,600.00 375.00 12 12 Jun 17 Jun 17 5030 Advertising Expenso 2101 Accounts Payablo received bill for advertising received bill for advertising 375.00 4,200.00 13 13 Jun 21 Jun 21 1120 Accounts Receivable billed customers for consulting 4100 Computer & Consulting billed customers for consulting 4.200.00 14 14 Jun 21 Jun 21 1211 Office Equip 1110 Cash 850.00 fax machine purchased fax machine purchased 850.00 2 3 Transaction Date Account Debit Credit Name Description account payable paid account payable paid 560.00 15 15 Jun 21 Jun 21 2101 Accounts Payable 1110 Cash 560.00 375.00 16 16 Jun 22 Jun 22 2101 Accounts Payable 1110 Cash paid the advertising bill received June paid the advertising bill received june 17 375.00 1,090.00 17 17 Jun 22 Jun 22 5040 Repairs & Maint. Expen received bill for computer equipment 2101 Accounts Payable received bill for computer equipment 1,090.00 835.00 18 18 Jun 22 Jun 22 5020 Salary Expense 1110 Cash paid salaries to equipment operaters paid salaries to equipment operaters 835.00 3,365.00 19 19 Jun 23 Jun 23 1110 Cash 1120 Accounts Receivable cash received from customers cash received from customers 3.385.00 20 20 Jun 23 Jun 23 1150 Office Supplies 2101 Accounts Payable purchased office supplies on credit purchased office supplies on credit 555.00 555.00 1 2 3 4 5 6 37 B 09 10 21 21 Jun 28 Jun 28 1120 Accounts Receivable biled customers for consulting 4100 Computer & Consulting biled customers for consulting 6,015.00 6.015.00 Transactio Date Account Credit Debit NINI Jun 29 Jun 29 Name 1110 Cash 1120|Accounts Receivable 5,699.00 Description cash received cash received 5,699.00 1,090.00 23 23 Jun 29 Jun 29 2101 Accounts Payable 1110 Cash paid bill paid bill 1,090.00 835.00 1 2 3 24 24 Jun 29 Jun 29 5020 Salary Expense 1110 Cash paid salaries to equipment operaters paid salaries to equipment operaters 835.00 790.00 25 25 Jun 30 Jun 30 5050 Oil & Gas Expense 2101 Accounts Payable received bill from O&G Oil and Gas Co received bill from O&G Oil and Gas Col 790.00 5 6 -7 28 29 30 31 32 33 34 35 36 37 38 26 26 Jun 30 Jun 30 1,719.08 3300 Dividends 1110 Cash paid dividend of $0.22 paid dividend of S0.22 1,719.08 27 27 Jun 30 Jun 30 5010 Rent Expense 1140 Prepaid Rent one month ront expense one month rent expense 1.900.00 1.900.00 39 40 41 142 143 144 28 28 Jun 30 Jun 30 5080 Supplies Expense 1150 Office Supplies 330.00 supplies expensed supplies expensed 330.00 45 Transaction Date Account Name Debit Credit 29 29 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable Description interest expense for half month rent or 791.56 interest expense for half month rent on mortgage 791.56 228.00 30 30 Jun 30 Jun 30 5100 Insurance Expense 1130 Prepaid Insurance prepaid Insurance account charged prepaid insurance account charged 228.00 31 31 5,250.00 Jun 30 Jun 30 1120 Accounts Receivable unbilled revenue recorded 4100 Computer & Consulting unbilled revenue recorded 5,250.00 1 3,548.02 32 32 32 32 Jun 30 Jun 30 Jun 30 Jun 30 5110 Depreciation Exponse depreciation for one month 1412 Accum. Depr.-Building depreciation for one month 1312 Accum Depr.-Computer depreciation for one month 1212 Accum. Depr.-Office Eq depreciation for one month 38.36 3,490.67 18.99 33 33 Jun 30 Jun 30 5020 Salary Expense 2105 Salaries Payable 501.00 unpaid salary unpaid salary 501.00 3 4 5 6 7 58 59 70 71 72 73 74 75 76 77 34 34 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable Interest on notes payable interest on notes payable 636.67 636.67 35 35 Jun 30 Jun 30 5120 Income Tax Expense Income tax computed 2106 Income Taxes Payable income tax computed 1,063.67 78 1.063.67 79 el Transaction Account Debit Date Name Description Credit D 1 2 36 36 Jun 30 Jun 30 26,935.00 4100 Computer & Consulting closing revenue account 3400 Income Summary closing revenue account 26,935.00 4 5 6 -7 8 9 20 11 32 33 34 95 26 97 98 99 00 01 02 03 04 05 06 207 200 37 37 37 37 37 37 37 37 37 37 37 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 3400 Income Summary closing expense accounts 5020 Salary Expense closing expense accounts 5030 Advertising Expense closing expense accounts 5040 Repairs & Maint. Expen closing expense accounts 5010 Rent Expense closing expense accounts 5110 Depreciation Expense closing expense accounts 5090 Interest Expense closing expense accounts 5080 Supplies Expense closing expense accounts 5050 Ol & Gas Expense closing expense accounts 5120 Income Tax Expense closing expense accounts 5100 Insurance Expense closing expense accounts 38 38 Jun 30 Jun 30 3400 Income Summary 3200 Retained Eamings closing income summary account closing Income summary account 39 39 Jun 30 Jun 30 3200 Retained Eamings 3300 Dividends closing the dividends acount closing the dividends acount 1,719.08 1,719.08