General Journal and worksheet. Please Help!!!

Transaction 01 Jun 01 Jun 01 Jun 01 01 RE 01 02 02 03 ww olol 03 04 04 04 05 05 06 06 07 lolo Date 07 Jun 01 Jun 01 Jun 01 Jun 01 Jun 02 Jun 02 Jun 02 Jun 04 Jun 04 Jun 08 Jun 08 Jun 10 Jun 10 Account A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Name 1110 Cash 1311 Computer Equip. 3100 Hudson Bloom, Capital 1211 Office Equip. 1110 Cash 1311 Computer Equip. 1110 Cash 1311 Computer Equip. 1110 Cash 2202 Notes Payable 1211 Office Equip. 2101 Accounts Payable 2101 Accounts Payable 1211 Office Equip. 2202 Notes Payable 1110 Cash Cash Cash Cash Description #VALUE! office equipment office equipment computer equipment computer equipment royce computers royce computers royce computers purchased on credit purchased on credit invoice number 98432 was returned invoice number 98432 was returned. check #5003 royce computers check #5003 royce computers Debit 112 378,00 36 110,00 598,00 10 120,00 170 000,00 300,00 60,00 26 000,00 Credit 148 478,00 598,00 10 120,00 34 000,00 136 000,00 300,00 60,00 26 000,00 Transaction 1818 08 Jun 14 08 Jun 14 09 09 10 10 10 10 11 11 Date 12 12 13 13 14 14 Jun 16 Jun 16 Jun 16 Jun 16 Jun 16 Jun 16 Jun 17 Jun 17 Jun 17 Jun 17 Jun 21 Jun 21 Jun 21 Jun 21 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Account Name 1130 Prepaid Insurance 1110 Cash 1510 Land 1411 Building 1110 Cash 2201 Mortgage Payable 1110 Cash pitman pictures 4100 Computer & Consulting Repitman pictures 5030 Advertising Expense 1110 Cash 5030 Advertising Expense 2101 Accounts Payable 1120 Accounts Receivable 4100 Computer & Consulting Description 1211 Office Equip. 1110 Cash seth's insurance seth's insurance land and building purchased land and building purchased land and building purchased land and building purchased building check #5006 building check #5006 invoice number 26354 invoice number 26354 billed service performed Rebilled service performed office machines express office machines express Debit 5 976,00 6.500,00 143 000,00 23 000,00 7 200,00 375,00 4 400,00 800,00 Credit 5 976,00 6 500,00 14 300,00 151 700,00 7 200,00 375,00 4 400,00 800,00 Transaction 15 Jun 21 15 Jun 21 16 16 17 17 99 18 18 -- coco 19 19 Date 21 21 Jun 22 Jun 22 Jun 22 Jun 22 Jun 22 Jun 22 Jun 23 Jun 23 20 Jun 23 20 Jun 23 Jun 28 Jun 28 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Account Name 2101 Accounts Payable 1110 Cash 2101 Accounts Payable 1110 Cash 5020 Salary Expense 1110 Cash 5040 Repairs & Maint. Expense computer parts and repairs co. 2101 Accounts Payable computer parts and repairs co. 1110 Cash 1120 Accounts Receivable Description accounts payable with check # 5007 accounts payable with check # 5007 1150 Office Supplies 2101 Accounts Payable pay advertising bill pay advertising bill paid salaries paid salaries cash from billings cash from billings purchase office supplies purchase office supplies 1120 Accounts Receivable services performed 4100 Computer & Consulting Reservices performed Debit 240,00 375,00 1 165,00 835,00 3 525,00 655,00 5 385,00 Credit 240,00 375,00 1 165,00 835,00 3 525,00 655,00 5 385,00 Transaction 22 22 23 23 24 24 25 25 26 26 27 27 Date 28 28 Jun 29 Jun 29 Jun 29 Jun 29 Jun 29 Jun 29 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Account Name 1110 Cash 1120 Accounts Receivable 2101 Accounts Payable 1110 Cash 5020 Salary Expense 1110 Cash 5050 Oil & Gas Expense 2101 Accounts Payable 5010 Rent Expense 1140 Prepaid Rent 5080 Supplies Expense 1150 Office Supplies Description cash from billings cash from billings paid computer parts and repairs co. paid computer parts and repairs co. paid salaries paid salaries 3300 Hudson Bloom, Withdrawa owner's drawings 1110 Cash owner's drawings O & G oil and gas co. O & G oil and gas co. rent expense rent expense physical inventory physical inventory Debit 5 101,00 1 165,00 835,00 965,00 1 600,00 1 800,00 385,00 Credit 5 101,00 1 165,00 835,00 965,00 1 600,00 1 800,00 385,00 Transaction 224 29 Jun 30 Jun 30 29 30 30 31 31 32 32 32 32 33 33 Date 34 34 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 35 Jun 30 35 Jun 30 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Name 5090 Interest Expense 2103 Interest Payable Account 5100 Insurance Expense 1130 Prepaid Insurance. 1120 Accounts Receivable 1130 Prepaid Insurance. 5020 Salary Expense 2105 Salaries Payable 5090 Interest Expense 2105 Salaries Payable Description 4100 Computer & Consulting 3400 Income Summary interest on mortgage interest on mortgage #VALUE! 5110 Depreciation Expense depreciation for one month 1412 Accum. Depr.-Building depreciation for one month 1312 Accum. Depr.-Computer Edepreciation for one month 1212 Accum. Depr.-Office Equip depreciation for one month insurance adjustment insurance adjustment unbilled revenue from june 28-30 unbilled revenue from june 28-30 unpaid salaries unpaid salaries interest expense interest expense Retransfer of revenue transfer of revenue Debit 584,67 249,00 9 000,00 501,00 1 096,00 Credit 584,67 249,00 9 000,00 361,11 3 603,83 15,33 501,00 1 096,00 Transaction 34 35 35 36 36 36 36 33 Date Jun 30 Jun 30 Jun 30 Jun 30 36 Jun 30 36 Jun 30 36 Jun 30 36 Jun 30 36 Jun 30 36 Jun 30 Jun 30 38 38 Jun 30 Jun 30 37 Jun 30 37 Jun 30 Jun 30 Jun 30 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Account Name Z TUJ Dalanes Payable 3400 Income Summary 5010 Rent Expense 4100 Computer & Consulting Retransfer of revenue 3400 Income Summary transfer of revenue Description 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint. Expense 5050 Oil & Gas Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 3400 #REF! 3100 Hudson Bloom, Capital interest expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of net income to capital transfer of net income to capital 3100 Hudson Bloom, Capital transfer of drawings to capital 3300 Hudson Bloom, Withdrawa transfer of drawings to capital Debit Credit T 090,00 Account Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supples 1211 Office Equip 1212 Accum Depr.-Office Equip. 1311 Computer Equip. 1312 Accum Depr Computer Equip 1411 Building Cost 1412 Accum Dept Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Hudson Bloom Capital 3300 Hudson Bloom Withdrawals 4100 Computer & Consulting Revenue 5010 Rent Expense 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint Expense 5050 O & Gas Expense 5080 Supples Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense Total NET INCOME Balance Unadjusted Trial Balance Debit Credit 23 460,00 1 159,00 5976,00 0,00 655,00 1638,00 0,00 230,00 0,00 23 000,00 0,00 143 000,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 1600,00 216 0,00 0,00 1 670,00 7 575.00 1 165,00 965.00 0,00 0,00 0.00 0,00 428 093,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 1620,00 0,00 0,00 0,00 151 700,00 110 000,00 148 478,00 0,00 16 285,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 428 083,00 Adjusting Entries Debit 0,00 9 000,00 0.00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 800,00 501,00 0.00 0,00 0,00 385,00 1.680,67 249,00 0.00 13 615,67 Credit 0,00 0,00 9 249,00 1.800,00 385,00 0,00 15,33 0,00 3603,83 0,00 361,11 0,00 0,00 0,00 584,67 1597,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 17 595,94 Adjusted Trial Balance Debit Credit 23 460,00 Income Statement Debit Credit Balance Sheet Debit Credit Transaction 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, Description of transaction June 1: Hudson Bloom invested $112,378.00 cash and computer equipment with a fair market value of $36,110.00 in his new business, Byte of Accounting. June 1: Check # 5000 was used to purchased office equipment costing $598.00 from Office Express. The invoice number was 87417. June 1: Check # 5001 was used to purchased computer equipment costing $10,120.00 from The invoice number was 20117. June 2: Check # 5002 was used to make a down payment of $34,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $170,000.00. A five-year note was executed by Byte for the balance. June 4: Additional office equipment costing $300.00 was purchased on credit from Discount Computer Corporation. The invoice number was 98432. June 8: Unsatisfactory office equipment costing $60.00 from invoice number 98432 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. June 10: Check # 5003 was used to make a $26,000.00 payment reducing the principal owed on the June 2 purchase of computer equipment from Royce Computers. June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for $5,976.00 from Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. June 16: A check in the amount of $6,500.00 was received for services performed for Pitman Pictures. June 16: Byte purchased a building and the land it is on for $143,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $23,000.00. The balance of AL IL ARA 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, June 16: Byte purchased a building and the land it is on for $143,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $23,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $14,300.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. June 17: Check # 5006 for $7,200.00 was paid for rent of the office space for June, July, August and September. June 17: Received invoice number 26354 in the amount of $375.00 from the local newspaper for advertising. June 21: Billed various miscellaneous local customers $4,400.00 for consulting services performed. June 21: Check # 5008 was used to purchase a fax machine for the office from Office Machines Express for $800.00. The invoice number was 975-328. June 21: Accounts payable in the amount of $240.00 were paid with Check # 5007. June 22: Check # 5010 was used to pay the advertising bill that was received on June 17. June 22: Received a bill for $1,165.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. June 22: Check # 5009 was used to pay salaries of $835.00 to equipment operators for the week ending June 18. Ignore payroll taxes. June 23: Cash in the amount of $3,525.00 was received on billings. June 23: Purchased office supplies for $655.00 from Staples on account. The invoice number was 65498. 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, June 28: Billed $5,385.00 to miscellaneous customers for services performed to June 25. June 29: Cash in the amount of $5,101.00 was received for billings. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co with Check # 5011. June 29: Check # 5012 was used to pay salaries of $835.00 to equipment operators for the week ending June 25. Ignore payroll taxes. June 30: Received a bill for the amount of $965.00 from O & G Oil and Gas Co. The invoice number was 784537. June 30: Check # 5013 was used to pay for airline tickets of $1,600.00 to send the kids to Grandma Ellen for the July 4th holiday. 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. A physical inventory showed that only $270.00 worth of office supplies remained on hand as of June 30. The annual interest rate on the mortgage payable was 9.25 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. Record a journal entry to reflect that one half month's insurance has expired. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $9,000 for the period of June 28-30. A B Revenues Computer Revenue Expenses C A Byte of Accounting Income Statement For Month Ending June 30, 2021 Rent Expense Salary Expense Advertising Expense Repairs & Maint. Expense Ol & Gas Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense Total Net Income D E G H Elf Village Productions 50 Sheet Legal Pad Building Blocks of Accounting .. A Financial Perspective Welcome Welcome to the world's first ePractice case, an individualized, internet generated and and graded case study that focuses on the analytically portion of the accounting cycle. All sheets have been locked to protect the "HELP" messages built into this case. Enter the required data into the yellow filled cells on the General Journal, Worksheet and Financial Statement sheets. Step 1 The Chart of Accounts includes all of the accounts that you can use to solve your case. You may want to print the chart of accounts and use it as an easy reference guide. Step 5 Step 6 Unless limited by your instructor you have unlimited attempts and only the highest score is counted. Step 2 Journalize the First 29 Transactions Using your unique transactions record the corresponding general journal entry, rounding to two decimal places, =Round(value,2). Step 3 Completed adjusting entries 30-39 Use the information in the Adjusted Trial Balance columns of the Worksheet. Step 4 Complete the Bank Reconciliation a. Information will be displayed after required Journal Entries are correct. b. The ending balance of the bank statement and the book statement must be the same Completed adjusting entries 40-42 Complete the Worksheet verifying that the Net income is the same in the Income Statement and in the Balance Sheet columns. If you have questions See FAQ 05. Page 1 Step 7 Using the Worksheet as a reference, prepare the Income Statement, Statement of Changes in Retained Earnings and the Balance Sheet. Step 8 Check your work by Creating General Ledger using a Pivot Table. Note: This non-graded step will help you verify your work Transaction 01 Jun 01 Jun 01 Jun 01 01 RE 01 02 02 03 ww olol 03 04 04 04 05 05 06 06 07 lolo Date 07 Jun 01 Jun 01 Jun 01 Jun 01 Jun 02 Jun 02 Jun 02 Jun 04 Jun 04 Jun 08 Jun 08 Jun 10 Jun 10 Account A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Name 1110 Cash 1311 Computer Equip. 3100 Hudson Bloom, Capital 1211 Office Equip. 1110 Cash 1311 Computer Equip. 1110 Cash 1311 Computer Equip. 1110 Cash 2202 Notes Payable 1211 Office Equip. 2101 Accounts Payable 2101 Accounts Payable 1211 Office Equip. 2202 Notes Payable 1110 Cash Cash Cash Cash Description #VALUE! office equipment office equipment computer equipment computer equipment royce computers royce computers royce computers purchased on credit purchased on credit invoice number 98432 was returned invoice number 98432 was returned. check #5003 royce computers check #5003 royce computers Debit 112 378,00 36 110,00 598,00 10 120,00 170 000,00 300,00 60,00 26 000,00 Credit 148 478,00 598,00 10 120,00 34 000,00 136 000,00 300,00 60,00 26 000,00 Transaction 1818 08 Jun 14 08 Jun 14 09 09 10 10 10 10 11 11 Date 12 12 13 13 14 14 Jun 16 Jun 16 Jun 16 Jun 16 Jun 16 Jun 16 Jun 17 Jun 17 Jun 17 Jun 17 Jun 21 Jun 21 Jun 21 Jun 21 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Account Name 1130 Prepaid Insurance 1110 Cash 1510 Land 1411 Building 1110 Cash 2201 Mortgage Payable 1110 Cash pitman pictures 4100 Computer & Consulting Repitman pictures 5030 Advertising Expense 1110 Cash 5030 Advertising Expense 2101 Accounts Payable 1120 Accounts Receivable 4100 Computer & Consulting Description 1211 Office Equip. 1110 Cash seth's insurance seth's insurance land and building purchased land and building purchased land and building purchased land and building purchased building check #5006 building check #5006 invoice number 26354 invoice number 26354 billed service performed Rebilled service performed office machines express office machines express Debit 5 976,00 6.500,00 143 000,00 23 000,00 7 200,00 375,00 4 400,00 800,00 Credit 5 976,00 6 500,00 14 300,00 151 700,00 7 200,00 375,00 4 400,00 800,00 Transaction 15 Jun 21 15 Jun 21 16 16 17 17 99 18 18 -- coco 19 19 Date 21 21 Jun 22 Jun 22 Jun 22 Jun 22 Jun 22 Jun 22 Jun 23 Jun 23 20 Jun 23 20 Jun 23 Jun 28 Jun 28 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Account Name 2101 Accounts Payable 1110 Cash 2101 Accounts Payable 1110 Cash 5020 Salary Expense 1110 Cash 5040 Repairs & Maint. Expense computer parts and repairs co. 2101 Accounts Payable computer parts and repairs co. 1110 Cash 1120 Accounts Receivable Description accounts payable with check # 5007 accounts payable with check # 5007 1150 Office Supplies 2101 Accounts Payable pay advertising bill pay advertising bill paid salaries paid salaries cash from billings cash from billings purchase office supplies purchase office supplies 1120 Accounts Receivable services performed 4100 Computer & Consulting Reservices performed Debit 240,00 375,00 1 165,00 835,00 3 525,00 655,00 5 385,00 Credit 240,00 375,00 1 165,00 835,00 3 525,00 655,00 5 385,00 Transaction 22 22 23 23 24 24 25 25 26 26 27 27 Date 28 28 Jun 29 Jun 29 Jun 29 Jun 29 Jun 29 Jun 29 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Account Name 1110 Cash 1120 Accounts Receivable 2101 Accounts Payable 1110 Cash 5020 Salary Expense 1110 Cash 5050 Oil & Gas Expense 2101 Accounts Payable 5010 Rent Expense 1140 Prepaid Rent 5080 Supplies Expense 1150 Office Supplies Description cash from billings cash from billings paid computer parts and repairs co. paid computer parts and repairs co. paid salaries paid salaries 3300 Hudson Bloom, Withdrawa owner's drawings 1110 Cash owner's drawings O & G oil and gas co. O & G oil and gas co. rent expense rent expense physical inventory physical inventory Debit 5 101,00 1 165,00 835,00 965,00 1 600,00 1 800,00 385,00 Credit 5 101,00 1 165,00 835,00 965,00 1 600,00 1 800,00 385,00 Transaction 224 29 Jun 30 Jun 30 29 30 30 31 31 32 32 32 32 33 33 Date 34 34 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 35 Jun 30 35 Jun 30 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Name 5090 Interest Expense 2103 Interest Payable Account 5100 Insurance Expense 1130 Prepaid Insurance. 1120 Accounts Receivable 1130 Prepaid Insurance. 5020 Salary Expense 2105 Salaries Payable 5090 Interest Expense 2105 Salaries Payable Description 4100 Computer & Consulting 3400 Income Summary interest on mortgage interest on mortgage #VALUE! 5110 Depreciation Expense depreciation for one month 1412 Accum. Depr.-Building depreciation for one month 1312 Accum. Depr.-Computer Edepreciation for one month 1212 Accum. Depr.-Office Equip depreciation for one month insurance adjustment insurance adjustment unbilled revenue from june 28-30 unbilled revenue from june 28-30 unpaid salaries unpaid salaries interest expense interest expense Retransfer of revenue transfer of revenue Debit 584,67 249,00 9 000,00 501,00 1 096,00 Credit 584,67 249,00 9 000,00 361,11 3 603,83 15,33 501,00 1 096,00 Transaction 34 35 35 36 36 36 36 33 Date Jun 30 Jun 30 Jun 30 Jun 30 36 Jun 30 36 Jun 30 36 Jun 30 36 Jun 30 36 Jun 30 36 Jun 30 Jun 30 38 38 Jun 30 Jun 30 37 Jun 30 37 Jun 30 Jun 30 Jun 30 A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Account Name Z TUJ Dalanes Payable 3400 Income Summary 5010 Rent Expense 4100 Computer & Consulting Retransfer of revenue 3400 Income Summary transfer of revenue Description 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint. Expense 5050 Oil & Gas Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 3400 #REF! 3100 Hudson Bloom, Capital interest expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of expense transfer of net income to capital transfer of net income to capital 3100 Hudson Bloom, Capital transfer of drawings to capital 3300 Hudson Bloom, Withdrawa transfer of drawings to capital Debit Credit T 090,00 Account Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supples 1211 Office Equip 1212 Accum Depr.-Office Equip. 1311 Computer Equip. 1312 Accum Depr Computer Equip 1411 Building Cost 1412 Accum Dept Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Hudson Bloom Capital 3300 Hudson Bloom Withdrawals 4100 Computer & Consulting Revenue 5010 Rent Expense 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint Expense 5050 O & Gas Expense 5080 Supples Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense Total NET INCOME Balance Unadjusted Trial Balance Debit Credit 23 460,00 1 159,00 5976,00 0,00 655,00 1638,00 0,00 230,00 0,00 23 000,00 0,00 143 000,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 1600,00 216 0,00 0,00 1 670,00 7 575.00 1 165,00 965.00 0,00 0,00 0.00 0,00 428 093,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 1620,00 0,00 0,00 0,00 151 700,00 110 000,00 148 478,00 0,00 16 285,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 428 083,00 Adjusting Entries Debit 0,00 9 000,00 0.00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 800,00 501,00 0.00 0,00 0,00 385,00 1.680,67 249,00 0.00 13 615,67 Credit 0,00 0,00 9 249,00 1.800,00 385,00 0,00 15,33 0,00 3603,83 0,00 361,11 0,00 0,00 0,00 584,67 1597,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00 17 595,94 Adjusted Trial Balance Debit Credit 23 460,00 Income Statement Debit Credit Balance Sheet Debit Credit Transaction 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, Description of transaction June 1: Hudson Bloom invested $112,378.00 cash and computer equipment with a fair market value of $36,110.00 in his new business, Byte of Accounting. June 1: Check # 5000 was used to purchased office equipment costing $598.00 from Office Express. The invoice number was 87417. June 1: Check # 5001 was used to purchased computer equipment costing $10,120.00 from The invoice number was 20117. June 2: Check # 5002 was used to make a down payment of $34,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $170,000.00. A five-year note was executed by Byte for the balance. June 4: Additional office equipment costing $300.00 was purchased on credit from Discount Computer Corporation. The invoice number was 98432. June 8: Unsatisfactory office equipment costing $60.00 from invoice number 98432 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. June 10: Check # 5003 was used to make a $26,000.00 payment reducing the principal owed on the June 2 purchase of computer equipment from Royce Computers. June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for $5,976.00 from Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. June 16: A check in the amount of $6,500.00 was received for services performed for Pitman Pictures. June 16: Byte purchased a building and the land it is on for $143,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $23,000.00. The balance of AL IL ARA 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, June 16: Byte purchased a building and the land it is on for $143,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $23,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $14,300.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. June 17: Check # 5006 for $7,200.00 was paid for rent of the office space for June, July, August and September. June 17: Received invoice number 26354 in the amount of $375.00 from the local newspaper for advertising. June 21: Billed various miscellaneous local customers $4,400.00 for consulting services performed. June 21: Check # 5008 was used to purchase a fax machine for the office from Office Machines Express for $800.00. The invoice number was 975-328. June 21: Accounts payable in the amount of $240.00 were paid with Check # 5007. June 22: Check # 5010 was used to pay the advertising bill that was received on June 17. June 22: Received a bill for $1,165.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. June 22: Check # 5009 was used to pay salaries of $835.00 to equipment operators for the week ending June 18. Ignore payroll taxes. June 23: Cash in the amount of $3,525.00 was received on billings. June 23: Purchased office supplies for $655.00 from Staples on account. The invoice number was 65498. 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, June 28: Billed $5,385.00 to miscellaneous customers for services performed to June 25. June 29: Cash in the amount of $5,101.00 was received for billings. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co with Check # 5011. June 29: Check # 5012 was used to pay salaries of $835.00 to equipment operators for the week ending June 25. Ignore payroll taxes. June 30: Received a bill for the amount of $965.00 from O & G Oil and Gas Co. The invoice number was 784537. June 30: Check # 5013 was used to pay for airline tickets of $1,600.00 to send the kids to Grandma Ellen for the July 4th holiday. 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. A physical inventory showed that only $270.00 worth of office supplies remained on hand as of June 30. The annual interest rate on the mortgage payable was 9.25 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. Record a journal entry to reflect that one half month's insurance has expired. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $9,000 for the period of June 28-30. A B Revenues Computer Revenue Expenses C A Byte of Accounting Income Statement For Month Ending June 30, 2021 Rent Expense Salary Expense Advertising Expense Repairs & Maint. Expense Ol & Gas Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense Total Net Income D E G H Elf Village Productions 50 Sheet Legal Pad Building Blocks of Accounting .. A Financial Perspective Welcome Welcome to the world's first ePractice case, an individualized, internet generated and and graded case study that focuses on the analytically portion of the accounting cycle. All sheets have been locked to protect the "HELP" messages built into this case. Enter the required data into the yellow filled cells on the General Journal, Worksheet and Financial Statement sheets. Step 1 The Chart of Accounts includes all of the accounts that you can use to solve your case. You may want to print the chart of accounts and use it as an easy reference guide. Step 5 Step 6 Unless limited by your instructor you have unlimited attempts and only the highest score is counted. Step 2 Journalize the First 29 Transactions Using your unique transactions record the corresponding general journal entry, rounding to two decimal places, =Round(value,2). Step 3 Completed adjusting entries 30-39 Use the information in the Adjusted Trial Balance columns of the Worksheet. Step 4 Complete the Bank Reconciliation a. Information will be displayed after required Journal Entries are correct. b. The ending balance of the bank statement and the book statement must be the same Completed adjusting entries 40-42 Complete the Worksheet verifying that the Net income is the same in the Income Statement and in the Balance Sheet columns. If you have questions See FAQ 05. Page 1 Step 7 Using the Worksheet as a reference, prepare the Income Statement, Statement of Changes in Retained Earnings and the Balance Sheet. Step 8 Check your work by Creating General Ledger using a Pivot Table. Note: This non-graded step will help you verify your work