Complete the questions 35, 36, and 38 please

December 1: a new investor, made an investment in Byte by purchasing 2,600 shares of its common stock paying $67,600.00 in cash. The par value of the common stock was $17.00 per share.

December 3: Byte purchased a Ricoh Color Copier for $5,100.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually.

December 3: Check # 6001 for $2,600.00 was issued by Byte to pay for rent of the office space for December.

December 3: Byte received 19 Super Toners for resale to customers at a cost of $22.00 per toner. The invoice number was 7249, and requires payment within 30 days.

December 10: Byte sold 14 Super Toners to a customer on account for $57.00 each. The Sales order number was 12100.

December 10: Byte records the cost of the 14 Super Toners sold using FIFO. The sales order number was 12100.

December 11: Check # 6002 was issued to pay salaries of $2,450.00 to equipment operators. (Ignore payroll taxes at this time.)

December 14: Check # 6003 was issued to purchase a one-year insurance policy covering its computer equipment. The cost of the insurance is $6,456.00 and paid to Seth's Insurance. The effective date of the policy was December 16 and the invoice number was 2387.

December 15: Byte purchased $700.00 of supplies on account.

December 16: Byte received 4 Super Toners purchased for resale to customers. The cost was $23.00 per toner. The invoice number was 7959, and payment is required in 30 days.

December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the $590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method.

December 17: Byte received invoice number 26354 in the amount of $800.00 from the local newspaper for advertising.

December 18: Check # 6004 was issued to pay Accounts Payable in the amount of $320.00.

December 19: Byte sold 4 Super toners to a customer on account for $57.00 each. The sales order number was 12101.

December 19: Byte records the cost of the 4 Super Toners sold using FIFO. The sales order number was 12101.

December 21: Byte received an emailed invoice in the amount of $4,600.00 for computers that were drop shipped and received today.

December 21: Byte billed various miscellaneous local customers $9,200.00 for computers that were delivered today.

December 21: Record the cost of the computers that were sold today.

December 22: Check # 6005 was issued to pay salaries of $2,450.00 to equipment operators. (Ignore payroll taxes at this time.)

December 22: Byte received a bill for $1,215.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254.

December 22: Check # 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354.

December 22: Byte received 11 Super Toners purchased for resale to customers. The cost was $25.00 per toner. The invoice number was 8988, and payment is required in 30 days.

December 23: Byte received $21,925.00 from customers billed when they received delivery.

December 23: Byte received an emailed invoice in the amount of $5,850.00 for computers that were drop shipped and received today.

December 28: Byte billed various miscellaneous local customers $11,700.00 for computers that were delivered today.

December 28: Record the cost of the computers that were sold today.

December 28: Byte paid the bill that was previously received and recorded from Computer Parts and Repairs Co with Check # 6007. The invoice number was 43254.

December 29: Byte received $1,180.00 from customers billed when they received delivery.

December 29: Byte received a bill for the amount of $630.00 from AT&T for the telephone and internet access. The invoice number was 784537.

December 30: Check # 6008 was issued to pay salaries of $2,450.00 to equipment operators. (Ignore payroll taxes at this time.)

December 30: Check # 6009 was issued to pay a cash dividend of $.25 per share to Lauryn, a shareholder of Byte.

December 30: Check # 6010 was issued to pay a cash dividend of $.25 per share to the new shareholder of Byte.

December 30: Byte received a $7,715.00 check from the new shareholders Corporation for merchandise ordered which will be delivered in January.

Christian Wolff, Byte's CPA, indicated that the previous bookkeeper was not very good. The CPA prepared a bank reconciliation and discovered that the bookkeeper neglected to record the bond issued on January 1 of this year and neglected the recording of the interest

payment on June 30. Since Byte does not make entries into "closed" periods, record the entries as of December 31.

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December 31: On January 1, Byte received $139,670.70 when they issued a $130,000.00, 7%, ten-year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded.

December 31: Check # 5367 was issued on June 30 for the timely interest payment for the bond. Record the entry using the straight-line method. This entry was never recorded.

The cash received and deposited from customers was $1,205.00 not the $1,180.00 orignially recorded.

A physical inventory showed that only $638.00 worth of supplies remained on hand as of December 31.

The interest on the note for the Ricoh Color Copier will be paid every six months. Record the December accrued interest on the note payable for the Ricoh purchased on December 1.

Record a journal entry to reflect that one-half month's insurance has expired.

A review of Bytes emails indicated that they received an invoice in the amout of $4,065.00 for computers that were drop shipped and received on December 28.

Bill various miscellaneous customers 200% of the cost of the computers that were drop shipped and received on December 28.

Record the cost of the computers that were sold on December 28.

The computer equipment on the Post Closing Trial Balance from last year was purchased last January for $24,500.00. It is being depreciated based upon an estimated useful life of 5.0 years

with no salvage value. Calculate the depreciation for one year using the straight-line method of depreciation.

The Ricoh Color Copier, part of the office equipment, is estimated to be able to make 480,000 copies and have a salvage value of $500.00. During December, 8,000 copies were made. Calculate the depreciation for one year using the activity-based method of depreciation.

The remaining office equipment, $64,100.00, was purchased last January and has an estimated useful life of 10.0 years with a salvage value of $3,100.00. Calculate the depreciation for one year using the straight-line method of depreciation.

A review of Byte's payroll records show that unpaid salaries in the amount of $1,470.00 are owed by Byte for three days, December 28 - 31. (Ignore payroll taxes at this time.)

Byte's CPA indicated that 9.00% of the outstanding Accounts Receivable would be a good estimate of the uncollectable accounts. Record the bad debt expense using the adjusted allowance method.

Byte's income taxes are to be computed at the rate of 25% 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 Statement through the Net Income Before Tax line.]

Post your adjusting journal entries to the general ledger and prepare the Adjusted Trial Balance as of December 31.

\begin{tabular}{|c|c|c|c|c|c|c|} \hline 35 & Dec31 & 5090 & Interest Expense & Interest payment & & \\ \hline 35 & Dec31 & 2212 & Premium on Bond Payable & Interest payment & & \\ \hline 35 & Dec 31 & 1110 & Cash & Interest payment & & \\ \hline & & & & & & \\ \hline 36 & Dec 31 & 5090 & Interest Expense & Interest payment & & \\ \hline 36 & Dec31 & 2212 & Premium on Bond Payable & Interest payment & & \\ \hline 36 & Dec31 & 1110 & Cash & Interest payment & & \\ \hline & & & & & & \\ \hline 37 & Dec31 & 1110 & Cash & Correct payment was received & 25.00 & \\ \hline 37 & Dec31 & 1120 & Accounts Receivable & Correct payment was received & & 25.00 \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline 38 & Dec31 & 5080 & Supplies Expense & lused sunnlies & & \\ \hline 38 & Dec31 & 1150 & Supplies & Used supplies & & \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular}