Hello!

I really need help with my 32, 34, 35, 36, 37 and 38. I've uploaded it a hundred times and I just can't get them right. Thank you!!! The first pictures (black and white) are the transactions each one has a number. Then the second set of pictures (with yellow) are part of the general journal (the ones I need to answer).

I need help with 32, 34, 35, 36 and 37. You need to read the corresponding transaction to the number. So for 32 you will read the transaction (the first set of pictures) then you will answer and put the numbers in the second set of pictures.

I know this is long, but you need the other transactions to complete them.

Thanks!

01. June 1: Byte of Accounting, Inc. acquired $57,200 in cash from Lauryn and issued 2,600 shares of its common stock. 02. June 1: Byte of Accounting, Inc. issued 2,610 shares of its common stock to RUTH CETINA JIMENEZ after $24,200 in cash and computer equipment with a fair market value of $33,220 were received. 03. June 1: Byte of Accounting, Inc. issued 2,437 shares of its common stock after acquiring from Courtney $40,700 in cash, computer equipment with a fair market value of $11,880 and office equipment with a fair value of $1,034. 04. June 2: A down payment of $36,000 in cash was made on additional computer equipment that was purchased for $180,000. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $500 was purchased on credit from Discount Computer Corporation. 06. June 8: Unsatisfactory office equipment costing $100 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 07. June 10: Byte paid $27,500 on the balance it owed on the June 2 purchase of computer equipment. 08. June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $5,136 in cash. The effective date of the policy was June 16. 09. June 16: A check in the amount of $7,750 was received for consulting revenue. 10. June 16: Byte purchased a building and the land it is on for $119,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $19,000. The balance of the cost is to be allocated to the building. Byte made a cash down payment of $11,900 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1. 11. June 17: Cash of $4,200 was paid for rent for June and July. Put the total amount into the Prepaid Rent account. 12. June 17: Received a bill of $400 from the local newspaper for advertising. 13. June 21: Accounts payable in the amount of $400 were paid. 14. June 21: A fax machine for the office was purchased for $750 cash. 15. June 21: Billed various miscellaneous local customers $4,500 for consulting services performed. 16. June 22: Paid salaries of $935 to equipment operators for the week ending June 18. 17. June 22: Received a bill for $1,215 from Computer Parts and Repair Co. for repairs to the computer equipment. 18. June 22: Paid the advertising bill that was received on June 17. 19. June 23: Purchased office supplies for $530 on credit. Record the purchase as an increase to the 20. June 23: Cash in the amount of $3,605 was received on billings. 21. June 28: Billed $5,595 to miscellaneous customers for services performed to June 25. 22. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co. 23. June 29: Cash in the amount of $5,300 was received for billings. 24. June 29: Paid salaries of $935 to equipment operators for the week ending June 25. 25. June 30: Received a bill for the amount of $890 from O & G Oil and Gas Co. 26. June 30: Paid a cash dividend of $0.18 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. 27. The rent payment made on June 17 was for June and July. Expense the amount associated with one month's rent. 28. A physical inventory showed that only $214.00 worth of office supplies remained on hand as of June 29. 29. month holida The annual interest rate on the mortgage payable was 8.75 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred 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 $5,125 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 $7,000. The office equipment has a scrap value of $350. 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 $561.00 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.] Closing Entries 36. Close the revenue accounts. 37. Close the expense accounts. 38. Close the income summary account. 39. Close the dividends account. 57,200.00 01 01 Jun 01 Jun 01 1110 Cash 3100 Capital Stock Lauryn Lauryn 57,200.00 02 02 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip. 3100 Capital Stock Ruth's Investment Ruth's Investment Ruth's Investment 24,200.00 33,220.00 02 57,420.00 031 03 Jun Jun 01 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip. 1211 Office Equip. 3100 Capital Stock Courtney Courtney Courtney Courtney 40,700.00 11,880.00 1,034.00 03 03 53,614.00 180,000.00 Rel Jun 02 Jun 02 Jun 02 1311 Computer Equip. 1110 Cash 2202 Notes Payable Additional Computer Equipment Additional Computer Equipment Additional Computer Equipment 36,000.00 144,000.00 500.00 05 05 Jun 04 Jun 04 1211 Office Equip. 2101 Accounts Payable Additional Office Equipment Additional Office Equipment 500.00 100.00 06 06 Jun 08 | Jun 08 2101 Accounts Payable 1211 Office Equip. Return Office Equipment Return Office Equipment 100.00 07 07 27,500.00 Jun 10 Jun 10 2202 Notes Payable 1110 Cash Purchase of Computer Equip. Jun 2 Purchase of Computer Equip. Jun 2 127 27,500.00 5,136.00 08 08 Jun 14 Jun 14. 1130 Prepaid Insurance 1110 Cash Insurance fro Computers Insurance fro Computers 5,136.00 7,750.00 Jun 16 Jun 16 1110 Cash Check for consulting revenue 4100|Computer & Consulting Check for consulting revenue 09 7,750.00 10 101 19,000.00 100,000.00 Jun 16 Jun 16 Jun 16 Jun 16 1411 Building Cost 1510 Land 2201 Mortgage Payable 1110 Cash Purchase Building Purchase Building Purchase Building Purchase Building 107,100.00 11,900.00 10 4,200.00 11 11 Jun 171 Jun 17 1140 Prepaid Rent 1 110 Cash Prepaid Rent June and July Prepaid Rent June and July 4,200.00 400.00 12 12] Jun 17 Jun 17 5030 | Advertising Expense 2101 | Accounts Payable Local Newspaper Advertising Local Newspaper Advertising 400.00 13 400.00 Jun 211 Jun 21 2101 | Accounts Payable 1110 Cash Accounts Payable Accounts Payable 13 400.00 750.00 14 14 Jun 21 Jun 21 1211 Office Equip. 1110 Cash Fax Machine Fax Machine 750.00 15 4,500.00 Jun 21 Jun 21 1120 Accounts Receivable Billing to miscellaneous local customer 4100 Computer & Consulting Billing to miscellaneous local customers 15 4,500.00 16 16 Jun 22 Jun 22 | 5020 Salary Expense 1110 Cash Salaries to Equipment Operators endin 935.00 Salaries to Equipment Operators ending June 18 935.00 Jun 22 Jun 22 5040| Repairs & Maint. Expen Computer Parts and Repair Co. 2101 Accounts Payable Computer Parts and Repair Co. 1,215.00 17 1,215.00 400.00 18 18 Jun 22 Jun 22 2101 Accounts Payable 1110 Cash Advertising Jun 17 Paid Advertising Jun 17 Paid 400.00 19) 530.00 Jun 23 Jun 23 1150 Office Supplies 2101 Accounts Payable Purchase Office Supply Purchase Office Supply 530.00 20 3,605.00 Jun 23 Jun 23 1110 Cash 1120 Accounts Receivable Cash received from billings Cash received from billings 20 3,605.00 5,595.00 21 21 Jun 28 Jun 28| 1120 Accounts Receivable Billing to miscellaneous local customer 4100|Computer & Consulting Billing to miscellaneous local customers 5,595.00 1,215.00 22 22 Jun 29 Jun 29 2101 Accounts Payable 1110 Cash Paid Computer Parts and Repair Co. Paid Computer Parts and Repair Co. 1,215.00 5,300.00 Jun 29 Jun 29 1110 Cash 1120 Accounts Receivable Cash received from billings Cash received from billings 5,300.00 Jun 29 Jun 29 5020 Salary Expense 1110 Cash Salaries Equipment Operators week er 935.00 Salaries Equipment Operators week ending June 25 24 935.00 890.00 25 25 Jun 30 Jun 30 5050 Oil & Gas Expense 2101 Accounts Payable 10 & G Oil and Gas Co. O&G Oil and Gas Co. 890.00 1,376.46 26 26 Jun 30 Jun 30 3300 Dividends 1110 Cash Pay Dividend Pay Dividend 1,376.46 2,100.00 27] 27 Jun 30 Jun 301 5010 Rent Expense 1140 Prepaid Rent Expense for a month Expense for a month 2,100.00 316.00 28 28 Jun 30 Jun 30 5080 Supplies Expense 1150 Office Supplies Office supplies at the end of the month Office supplies at the end of the month 316.00 1,819.86 29 29 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable Investment Payment Incurr Investment Payment Incurr 1,819.86 214.00 30 30 Jun 301 Jun 30 5 1001 Insurance Expense 1130 Prepaid Insurance Insurance expense Insurance expense 214.00 31) 5, 125.00 Jun 301 Jun 30 1120 Accounts Receivable Unbilled Revenue 4100| Computer & Consulting (Unbilled Revenue 5,125.00 4,051.93 32 32 32 32) Jun 30 Jun 301 Jun 30 Jun 30 # 32 Not in Balance by $1,099.63 5 110 Depreciation Expense Recording depreciation of the month 1212 Accum. Depr.-Office Eql Recording depreciation of the month 1312 Accum. Depr.-Computer Recording depreciation of the month 1412 Accum. Depr.-Building Recording depreciation of the month 2,952.30 33 I 561.00 Jun 30 Jun 30 5020 Salary Expense 2105 Salaries Payable Unpaid Salaries Unpaid Salaries 33 561.00 2,166.57 34 34 Jun 30 Jun 30 5 090|Interest Expense 2103 Interest Payable Interest for the note of computer equip Interest for the note of computer equipment 2,166.57 35 35 Jun 30 Jun 30 5120 Income Tax Expense Income Tax 2106 Income Taxes Payable Income Tax 5,595.00 36 36 Jun 30| Jun 30 4100|Computer & Consulting Closing Revenue 3400 Income Summary Closing Revenue 5,595.00 1 3 7) 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 #37 Not in Balance by $11,617.93 3400 Income Summary Closing Expense 5010 Rent Expense Closing Expense 5020 Salary Expense Closing Expense 5030 Advertising Expense Closing Expense 5040| Repairs & Maint. Expen Closing Expense 5050 Oil & Gas Expense Closing Expense 5080 Supplies Expense Closing Expense 5090 Interest Expense Closing Expense 5100 Insurance Expense Closing Expense 5110 Depreciation Expense Closing Expense 5120 Income Tax Expense Closing Expense 2,100.00 2,431.00 400.00 1,215.00 890.00 316.00 37 37 37 37 214.00 4,051.93 Transaction Date Account Name Description Debit Credit 38 38 Jun 30 Jun 30 3400 Income Summary 3200 Retained Earnings Closing Income Closing Income 1,376.46 39 39 Jun 30 Jun 30 3200 Retained Earnings 3300 Dividends Closing Dividend Closing Dividend 1,376.46