general journal entry

Byte of Accounting 30. 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 31. June 30: A review of Byte's job worksheets show that there are un billed revenues in the amount of 85,750 for the period of June 28-30. 32. June 30: The accountant has calculated the following depreciation expenses for the month: Building - $219.58 Computer Equipment - $3,724.50 Omice Equipment - 550.62 33. June 30: A review of the payroll records show that unpaid salaries in the amount of $1,533.00 are owed to the employees of Byte for three days, June 28 - 30. 34 June 30: J. Collins, the Internal Auditor, indicated that S1,120.00 of the revenue recorded in June will not be earned until August. 35. June 30: The note payable in transaction #4 and transaction #7 is a five-year note, with interest at 12% The June interest expense from this note is $1,160.67. 36. June 30: 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.]