finish completing my general journal because its incomplete please and thank you.

finish completing the general journal then do the other part balance sheet

A Byte of Accounting, Inc. General Journal Hote: You can alwe data in the yellow filed alle Transaction. Date Account Name Description Debit Credit 01 01 01 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip 3100 Capital Stock Jeremy's Investment Jeremy's Investment Jeremy's Investment 25,920.00 37 200 00 63 120 CO 02 02 02 02 Jun 01 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip 1211 Office Equip 3100 Capital Stock Courtney Courtney Courtney Courtney Carlos Furtado investment Carlos Furtado investment 30 000.00 10,080.00 984.00 41 064 00 03 03 Jun 01 Jun 01 1110 Cash 3100 Capital Stock 72.000.00 72,000.00 S88 1898 04 04 04 Jun 02 Jun 02 Jun 02 1311 Computer Equip 1110 Cash 2202 Notes Payable Purchase of computer equipment Purchase of computer equipment Purchase of computer equipment 180,000.00 36.000.00 144,000.00 7 05 Jun 04 Jun 04 1211 Office Equip 2101 Accounts Payable Purchase office equipment from da Purchase office equipment from disc 700.00 700.00 0 06 06 Jun 08 Jun OB 2101 Accounts Payable 1211 Office Equip 32 33 34 Return office equipement discount Retum office equipement discount 140 00 140.00 37 07 07 Jun 10 Jun 10 2202 Notes Payable 1110 Cash Payment computer equipment Payment computer equipment 27.500.00 27.500.00 39 40 41 42 88 1130 Prepaid Insurance 11110 Cash Jun 1 Purchase Insurance Purchase Insurance 5.472.00 5.472.00 44 45 46 47 comover consulation revenue 7.750.00 Transactions General Journal Worksheet Income Statement Changes in Retained Earn Inting, Inc. Note: You can cely rar data to the yellow Filled celle General Journal Transaction Account Date 09 09 Jun 16 Jun 16 Name Description 1110 Cash computer consulation revenue 4100 Computer & Consulting computer consulation revenue Credit Debit 7750 00 7 750 00 10 10 10 10 Jun 16 Jun 16 Jun 16 Jun 16 1411 Building Cost 1510 Land 2201 Mortgage Payable 1110 Cash Not Baby SMERO Purchase Building Purchase Building Purchase Building Purchase Building 23,000.00 120.000.00 143 000 00 14 300.00 11 Jun 17 Jun 17 1140 Prepaid Rent 1110 Cash Prepaid rent Prepaid rent 3.400.00 3,400.00 12 12 Jun 17 Jun 17 5030 Advertising Expense 2101 Accounts Payable Owne local newspaper for adversiting Owne local newspaper for adversiting 400.00 400.00 13 13 Jun 17 Jun 17 1120 Accounts Receivable 1110 Cash Bling to miscellaneous local customer Being to miscellaneous local customers 4.100.00 4 100 g 1 14 14 Jun 21 Jun 21 1211 Office Equip 1110 Cash Purchase machine Purchase machine 700.00 700.00 4 5 15 15 Jun 21 Jun 21 2101 Accounts Payable 1110 Cash Payment computer equipment Payment computer equipment 560.00 560.00 7 78 379 30 31 82 83 16 16 Jun 22 Jun 22 2101 Accounts Payable 1110 Cash Pay advertising ba Pay advertising ba 475.00 475.00 85 86 87 88 17 17 Jun 22 Jun 22 5040 Repairs & Maint. Exper Repair to computer equipment 2101 Accounts Payable Reparto computer equipment 1.165.00 1.165.00 Transactions General Journal Worksheet Income Statement Changes in R General Joumal Hote: You can only one data in the yellow fed celle Transaction Date Account 17 17 Jun 22 Jun 22 Name Description 5040 Repairs & Maint Expen Repair to computer equipment 2101 Accounts Payable Repair to computer equipment Debit Credit 1.165.00 1165 18 18 Jun 23 Jun 23 5020 Salary Expense 1110 Cash Pald salary for the week ending june Paid salary for the week ending june 885.00 88501 19 19 Jun 23 Jun 23 1110 Cash 1120 Accounts Receivable Receive Cash Receive Cash 3.285.00 3,285.00 20 20 Jun 23 Jun 23 1150 Office Supplies 2101 Accounts Payable Purchase office supply Purchase office supply 580.00 580.00 21 21 Jun 28 Jun 28 1110 Cash Biling to miscellaneous local customed 4100 Computer & Consulting Bling to miscellaneous local customers 6.015.00 6.015.00 22 22 Jun 29 Jun 29 1110 Cash 1120 Accounts Receivable Casg wash received for bilings Casg wash received forblings 5.699.00 5.699.00 2 3 4 5 16 23 23 Jun 29 Jun 29 2101 Accounts Payable 1110 Cash Pay bill to computer parts and repair Pay bil to computer parts and repair 1,165.00 1.165.00 18 19 20 24 24 Jun 29 Jun 29 5020 Salary Expense 1110 Cash Paid salary for the week ending une Paid salary for the week ending une 885.00 22 23 24 125 885.00 127 128 25 25 Jun 30 Jun 30 5050 Ol & Gas Expense 1110 Cash Bling from O&G ol and Gas Co Being from O&G Ol and Gas Co 790.00 790.00 Transactions General Journal Worksheet Income Statement Changes B D E A Byte of Accounting, Inc. General Joumal Note: You can only enter data into the yellow filled alle Transaction Date Account Name Description Debit Credit 25 25 Jun 30 Jun 30 7 8 5050 OE & Gas Expense 1110 Cash Billing from O&G Ol and Gas Co Billing from O&G OH and Gas Co 790.00 790.00 0 1 2 3 26 26 Jun 30 Jun 30 3300 Dividends 1110 Cash Pay dividend Pay dividend 1.839.86 1.839.86 27 27 Jun 30 Jun 30 5010 Rent Expense 1140 Prepaid Rent Expense for a month Expense for a month 2,000.00 2,000.00 35 36 37 38 39 40 41 142 143 28 28 Jun 30 Jun 30 5080 Supplies Expense 1150 Office Supplies Office supplier at the end of the mont Office supplier at the end of the month 236.00 236 00 145 146 147 148 149 150 29 29 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable Investment payment incur Investment payment incurr 294.90 294.90 151 30 30 Jun 30 Jun 30 5100 Insurance Expense 1130 Prepaid Insurance Insurance expense Insurance expense 223.90 223.90 152 153 154 155 156 31 Jun 30 Jun 30 1120 Accounts Receivable Unbed revenue recorded 4100 Computer & Consulting Unbilled revenue recorded 5.375.00 5.375.00 157 158 159 160 161 162 163 164 165 166 167 3.789.00 32 32 32 32 Jun 30 Jun 30 Jun 30 Jun 30 5110 Depreciation Expense Depreciation for one month 1412 Accum. Dept Building Depreciation for one month 1312 Accum. Dep.Computer Depreciation for one month 1212 Acoum. Dept Office Eq Depreciation for one month 5020 Salary Expense Ubpaid Jun 30 39 531.00 531.00 Transaction General Journal Worksheet Income Statement Changes D E A Byte of Accounting, Inc. General Joumal Nota: You can cely data into the lowed celle Transaction Date Account 6 7 B 33 33 Jun 30 Jun 30 Name 5020 Salary Expense 2105 Salaries Payable Description Ubpaid Ubpaid Debit 631.00 Credit 631.00 0 71 22 23 Jun 30 Jun 30 34 5090 Interest Expense 2103 Interest Payable Interest for the role of the computer equipment Interest for the note of the computer equipment 35 35 Jun 30 Jun 30 5120 Income Tax Expense Income tax 2106 Income Taxes Payable income tax 36 37 75 76 77 78 79 80 81 82 83 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 38 39 Transactions General Journal Worksheet Income Statement Changes in 13. June 21: Billed various miscellaneous local customers 54,100 for consulting services performed. 14. June 21: A fax machine for the office was purchased for $700 cash. 15. June 21: Accounts payable in the amount of S560 were paid 16. June 22: Paid the advertising bill that was received on June 17. 17. June 22: Received a bill for $1,165 from Computer Parts and Repair Co. for repairs to the computer equipment 18. June 22: Paid salaries of $885 to equipment operators for the week ending June 18. 19. June 23: Cash in the amount of $3,285 was received on billings. 20. June 23: Purchased office supplies for $580 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 5885 to equipment operators for the week ending June 25. 25. June 30: Received a bill for the amount of $790 from O&G Oil and Gas Co. 26. June 30: Paid a cash dividend of 50.22 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.] Adjusting Entries - Round to two decimal places. 7 27. The rent payment made on June 17 was for June and July. Expense the amount associated with one month's rent 8 28. A physical inventory showed that only $236 00 worth of office supplies remained on hand as of June 30. 50 51 29. The annual internacional Transactions General Journal Worksheet Income Statement Changes in from CARLOSF B 28. A physical inventory showed that only $236.00 worth of office supplies remained on hand as of June 30. 29. The annual interest rate on the mortgage payable was 8.25 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. 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. 31. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $5,375 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 $8,500. 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 5531 are owed by Byte for three day, 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 $144,000 On June 10, eight days later, 527,500 was repaid. Interest expense must be calculated on the $144,000 for eight days. In addition, interest expense on the $116,500 balance of the loan (5144,000 less $27,500 - $116,500) must be calculated for the 20 days remaining in the month of June. 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 Closing Entries Transactions General Journal Worksheet Income Statement Changes i June 1! Byte of Accounting, Inc. acquired $72,000 in cash from CARLOS PCC 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 $8,500. The office equipment has a scrap value of $450. The computer equipment has no scrap vahze. Calculate the depreciation for one month. 33. A review of the payroll records show that unpaid salaries in the amount of $531 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 $144,000 On June 10, eight days later, $27,500 was repaid. Interest expense must be calculated on the $144,000 for eight days. In addition, interest expense on the $116,500 balance of the loan ($144,000 less $27,500 = $116,500) must be calculated for the 20 days remaining in the month of June.) 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.] 2 Closing Entries 14 35 36. Close the revenue accounts 37 37. Close the expense accounts 38. Close the income summary account 90 39. Close the dividends account 91 92 93 94 95 96 97 98 99 100 101 102 Transactions General Journal Worksheet Income Statement Changes Tell me Computer & Consulting Revenue C D . cunt Acting Entries Crede Income Statement Det CE Uradisted Trial Balance Data CR 51 547.14 1.131.00 5.472.00 3.400.00 580.00 2.244.00 5375.00 Alsted Trail Balance Deba Cred 51 547.14 6.506.00 5248 10 140000 34400 2,244.00 Deba 52 587.14 223 90 2 000 00 236.00 5248.00 1.400 CO MOC 2244 227.280.00 227.280.00 ccounts Receivable repaid Insurance repaid Rent Office Supplies Office Equip to Dept. Office Foulp Computer Equip cum Depe Computer Foue Building Cost um Degrauding Land Accounts Payable Advanced Payments antarest Payable Batanes Payable ncome Tags Payable Mortgage Payable tes Payable apa Stock 23,000.00 227280 00 23 000 00 120.000 00 33 000 1 370.00 120.000.00 1370.00 120 000 OG 29490 $31.00 53100 204 53100 143 000 00 116 500 00 176.184.00 14 000 00 116.500 00 176 11400 140.00 Dividends 1.83986 Computer & Consulting Revers 177B65.CO 2000.00 5.375.00 191140 Salary Expense Atentang Espanse Repairs & Maint Eupense 1.710.00 400.00 2.000.00 2,301.00 - TODO Interest Expense 200000 2230100 400.00 1.165.00 2290.00 230.00 2440 223.30 3.700 1.165 00 790.00 735.00 III Depreciation Expense Income Tax Expense 236.00 214.90 223.00 279.00 223.00 TOTAL NETINCOU 740 20 Transactions General Journal Worksheet Income Statement Changes in Retained Earnings Balance Sheet MacBook Air A Byte of Accounting, Inc. General Journal Hote: You can alwe data in the yellow filed alle Transaction. Date Account Name Description Debit Credit 01 01 01 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip 3100 Capital Stock Jeremy's Investment Jeremy's Investment Jeremy's Investment 25,920.00 37 200 00 63 120 CO 02 02 02 02 Jun 01 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip 1211 Office Equip 3100 Capital Stock Courtney Courtney Courtney Courtney Carlos Furtado investment Carlos Furtado investment 30 000.00 10,080.00 984.00 41 064 00 03 03 Jun 01 Jun 01 1110 Cash 3100 Capital Stock 72.000.00 72,000.00 S88 1898 04 04 04 Jun 02 Jun 02 Jun 02 1311 Computer Equip 1110 Cash 2202 Notes Payable Purchase of computer equipment Purchase of computer equipment Purchase of computer equipment 180,000.00 36.000.00 144,000.00 7 05 Jun 04 Jun 04 1211 Office Equip 2101 Accounts Payable Purchase office equipment from da Purchase office equipment from disc 700.00 700.00 0 06 06 Jun 08 Jun OB 2101 Accounts Payable 1211 Office Equip 32 33 34 Return office equipement discount Retum office equipement discount 140 00 140.00 37 07 07 Jun 10 Jun 10 2202 Notes Payable 1110 Cash Payment computer equipment Payment computer equipment 27.500.00 27.500.00 39 40 41 42 88 1130 Prepaid Insurance 11110 Cash Jun 1 Purchase Insurance Purchase Insurance 5.472.00 5.472.00 44 45 46 47 comover consulation revenue 7.750.00 Transactions General Journal Worksheet Income Statement Changes in Retained Earn Inting, Inc. Note: You can cely rar data to the yellow Filled celle General Journal Transaction Account Date 09 09 Jun 16 Jun 16 Name Description 1110 Cash computer consulation revenue 4100 Computer & Consulting computer consulation revenue Credit Debit 7750 00 7 750 00 10 10 10 10 Jun 16 Jun 16 Jun 16 Jun 16 1411 Building Cost 1510 Land 2201 Mortgage Payable 1110 Cash Not Baby SMERO Purchase Building Purchase Building Purchase Building Purchase Building 23,000.00 120.000.00 143 000 00 14 300.00 11 Jun 17 Jun 17 1140 Prepaid Rent 1110 Cash Prepaid rent Prepaid rent 3.400.00 3,400.00 12 12 Jun 17 Jun 17 5030 Advertising Expense 2101 Accounts Payable Owne local newspaper for adversiting Owne local newspaper for adversiting 400.00 400.00 13 13 Jun 17 Jun 17 1120 Accounts Receivable 1110 Cash Bling to miscellaneous local customer Being to miscellaneous local customers 4.100.00 4 100 g 1 14 14 Jun 21 Jun 21 1211 Office Equip 1110 Cash Purchase machine Purchase machine 700.00 700.00 4 5 15 15 Jun 21 Jun 21 2101 Accounts Payable 1110 Cash Payment computer equipment Payment computer equipment 560.00 560.00 7 78 379 30 31 82 83 16 16 Jun 22 Jun 22 2101 Accounts Payable 1110 Cash Pay advertising ba Pay advertising ba 475.00 475.00 85 86 87 88 17 17 Jun 22 Jun 22 5040 Repairs & Maint. Exper Repair to computer equipment 2101 Accounts Payable Reparto computer equipment 1.165.00 1.165.00 Transactions General Journal Worksheet Income Statement Changes in R General Joumal Hote: You can only one data in the yellow fed celle Transaction Date Account 17 17 Jun 22 Jun 22 Name Description 5040 Repairs & Maint Expen Repair to computer equipment 2101 Accounts Payable Repair to computer equipment Debit Credit 1.165.00 1165 18 18 Jun 23 Jun 23 5020 Salary Expense 1110 Cash Pald salary for the week ending june Paid salary for the week ending june 885.00 88501 19 19 Jun 23 Jun 23 1110 Cash 1120 Accounts Receivable Receive Cash Receive Cash 3.285.00 3,285.00 20 20 Jun 23 Jun 23 1150 Office Supplies 2101 Accounts Payable Purchase office supply Purchase office supply 580.00 580.00 21 21 Jun 28 Jun 28 1110 Cash Biling to miscellaneous local customed 4100 Computer & Consulting Bling to miscellaneous local customers 6.015.00 6.015.00 22 22 Jun 29 Jun 29 1110 Cash 1120 Accounts Receivable Casg wash received for bilings Casg wash received forblings 5.699.00 5.699.00 2 3 4 5 16 23 23 Jun 29 Jun 29 2101 Accounts Payable 1110 Cash Pay bill to computer parts and repair Pay bil to computer parts and repair 1,165.00 1.165.00 18 19 20 24 24 Jun 29 Jun 29 5020 Salary Expense 1110 Cash Paid salary for the week ending une Paid salary for the week ending une 885.00 22 23 24 125 885.00 127 128 25 25 Jun 30 Jun 30 5050 Ol & Gas Expense 1110 Cash Bling from O&G ol and Gas Co Being from O&G Ol and Gas Co 790.00 790.00 Transactions General Journal Worksheet Income Statement Changes B D E A Byte of Accounting, Inc. General Joumal Note: You can only enter data into the yellow filled alle Transaction Date Account Name Description Debit Credit 25 25 Jun 30 Jun 30 7 8 5050 OE & Gas Expense 1110 Cash Billing from O&G Ol and Gas Co Billing from O&G OH and Gas Co 790.00 790.00 0 1 2 3 26 26 Jun 30 Jun 30 3300 Dividends 1110 Cash Pay dividend Pay dividend 1.839.86 1.839.86 27 27 Jun 30 Jun 30 5010 Rent Expense 1140 Prepaid Rent Expense for a month Expense for a month 2,000.00 2,000.00 35 36 37 38 39 40 41 142 143 28 28 Jun 30 Jun 30 5080 Supplies Expense 1150 Office Supplies Office supplier at the end of the mont Office supplier at the end of the month 236.00 236 00 145 146 147 148 149 150 29 29 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable Investment payment incur Investment payment incurr 294.90 294.90 151 30 30 Jun 30 Jun 30 5100 Insurance Expense 1130 Prepaid Insurance Insurance expense Insurance expense 223.90 223.90 152 153 154 155 156 31 Jun 30 Jun 30 1120 Accounts Receivable Unbed revenue recorded 4100 Computer & Consulting Unbilled revenue recorded 5.375.00 5.375.00 157 158 159 160 161 162 163 164 165 166 167 3.789.00 32 32 32 32 Jun 30 Jun 30 Jun 30 Jun 30 5110 Depreciation Expense Depreciation for one month 1412 Accum. Dept Building Depreciation for one month 1312 Accum. Dep.Computer Depreciation for one month 1212 Acoum. Dept Office Eq Depreciation for one month 5020 Salary Expense Ubpaid Jun 30 39 531.00 531.00 Transaction General Journal Worksheet Income Statement Changes D E A Byte of Accounting, Inc. General Joumal Nota: You can cely data into the lowed celle Transaction Date Account 6 7 B 33 33 Jun 30 Jun 30 Name 5020 Salary Expense 2105 Salaries Payable Description Ubpaid Ubpaid Debit 631.00 Credit 631.00 0 71 22 23 Jun 30 Jun 30 34 5090 Interest Expense 2103 Interest Payable Interest for the role of the computer equipment Interest for the note of the computer equipment 35 35 Jun 30 Jun 30 5120 Income Tax Expense Income tax 2106 Income Taxes Payable income tax 36 37 75 76 77 78 79 80 81 82 83 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 38 39 Transactions General Journal Worksheet Income Statement Changes in 13. June 21: Billed various miscellaneous local customers 54,100 for consulting services performed. 14. June 21: A fax machine for the office was purchased for $700 cash. 15. June 21: Accounts payable in the amount of S560 were paid 16. June 22: Paid the advertising bill that was received on June 17. 17. June 22: Received a bill for $1,165 from Computer Parts and Repair Co. for repairs to the computer equipment 18. June 22: Paid salaries of $885 to equipment operators for the week ending June 18. 19. June 23: Cash in the amount of $3,285 was received on billings. 20. June 23: Purchased office supplies for $580 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 5885 to equipment operators for the week ending June 25. 25. June 30: Received a bill for the amount of $790 from O&G Oil and Gas Co. 26. June 30: Paid a cash dividend of 50.22 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.] Adjusting Entries - Round to two decimal places. 7 27. The rent payment made on June 17 was for June and July. Expense the amount associated with one month's rent 8 28. A physical inventory showed that only $236 00 worth of office supplies remained on hand as of June 30. 50 51 29. The annual internacional Transactions General Journal Worksheet Income Statement Changes in from CARLOSF B 28. A physical inventory showed that only $236.00 worth of office supplies remained on hand as of June 30. 29. The annual interest rate on the mortgage payable was 8.25 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. 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. 31. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $5,375 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 $8,500. 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 5531 are owed by Byte for three day, 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 $144,000 On June 10, eight days later, 527,500 was repaid. Interest expense must be calculated on the $144,000 for eight days. In addition, interest expense on the $116,500 balance of the loan (5144,000 less $27,500 - $116,500) must be calculated for the 20 days remaining in the month of June. 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 Closing Entries Transactions General Journal Worksheet Income Statement Changes i June 1! Byte of Accounting, Inc. acquired $72,000 in cash from CARLOS PCC 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 $8,500. The office equipment has a scrap value of $450. The computer equipment has no scrap vahze. Calculate the depreciation for one month. 33. A review of the payroll records show that unpaid salaries in the amount of $531 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 $144,000 On June 10, eight days later, $27,500 was repaid. Interest expense must be calculated on the $144,000 for eight days. In addition, interest expense on the $116,500 balance of the loan ($144,000 less $27,500 = $116,500) must be calculated for the 20 days remaining in the month of June.) 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.] 2 Closing Entries 14 35 36. Close the revenue accounts 37 37. Close the expense accounts 38. Close the income summary account 90 39. Close the dividends account 91 92 93 94 95 96 97 98 99 100 101 102 Transactions General Journal Worksheet Income Statement Changes Tell me Computer & Consulting Revenue C D . cunt Acting Entries Crede Income Statement Det CE Uradisted Trial Balance Data CR 51 547.14 1.131.00 5.472.00 3.400.00 580.00 2.244.00 5375.00 Alsted Trail Balance Deba Cred 51 547.14 6.506.00 5248 10 140000 34400 2,244.00 Deba 52 587.14 223 90 2 000 00 236.00 5248.00 1.400 CO MOC 2244 227.280.00 227.280.00 ccounts Receivable repaid Insurance repaid Rent Office Supplies Office Equip to Dept. Office Foulp Computer Equip cum Depe Computer Foue Building Cost um Degrauding Land Accounts Payable Advanced Payments antarest Payable Batanes Payable ncome Tags Payable Mortgage Payable tes Payable apa Stock 23,000.00 227280 00 23 000 00 120.000 00 33 000 1 370.00 120.000.00 1370.00 120 000 OG 29490 $31.00 53100 204 53100 143 000 00 116 500 00 176.184.00 14 000 00 116.500 00 176 11400 140.00 Dividends 1.83986 Computer & Consulting Revers 177B65.CO 2000.00 5.375.00 191140 Salary Expense Atentang Espanse Repairs & Maint Eupense 1.710.00 400.00 2.000.00 2,301.00 - TODO Interest Expense 200000 2230100 400.00 1.165.00 2290.00 230.00 2440 223.30 3.700 1.165 00 790.00 735.00 III Depreciation Expense Income Tax Expense 236.00 214.90 223.00 279.00 223.00 TOTAL NETINCOU 740 20 Transactions General Journal Worksheet Income Statement Changes in Retained Earnings Balance Sheet MacBook Air