How would you balance the balance sheet? I have attatched the transactions % Excel File Edit View
Get step-by-step solutions with AI-powered insights and expert guidance to help you understand core concepts.
Question:
How would you balance the balance sheet? I have attatched the transactions
% Excel File Edit View Insert Format Tools Data Window Help AutoSave BEU. NO8112 Home Insert Draw Page Layout Review Formulas Data View Data Mining Tell me Conditional Formatting AN -AA IN Number Call Stres 836 xf june 22: Received a bill for $1,265 from Computer Parts and Repair Co. for repairs to the computer equipmen D B30 A E NIEUWE 3 The Description of transaction OL Panel Dyse of Acting, Inc. led 20.30 hores of this common stick to Jeremy 529,60 inch and with market value of 543, che une Bye of Accounced 2.453 shares of its cock after quiring from Court 551.100 incl. computer games with a wet value of $16.240 und office equipment with a fer value of $644 Byte of Acne Inc. 95.200 in Nidwand 3.400 shares of nak 0 June 2Adement of $20,000 in cable al computer equipment that we purchased for $140.000 Afhversu by ve for the balance 10 one Addional office mailing 5000 was purchmed credit from Dont Computer OS 13 Pune Usery office questing 180 was returned Decent Computer for credit to be and the standing howed by Byte 14 01 se 10 Byw paid $21.500cc balowed on the lune purchase of computer equipment 0 14 Ayar policy covering is complement was parduod by Bly for $5,136 la cash The estivedle of the policy wa June 16 11 10 20 21 09 Lune Cooper of 53.250 was received 10 June 16 typed a big delines for 5119,000, to races and meget. The letos which the building is one is van 519.000. The face of the coot below the building Byte made a cash down payment of $11.900 med executed a mert for the balance. Theme is payable in elegante beginning July L NO 11 Pune 17. Cal of 39,200 was paid for rent for June July August Sepumber. Put them in Bed Rent.ccount 24 11 Tue 17: Biviel 300 brom the local new perfordering 28 27 24 1) 14 Tel Am for the office was purchased for cash 30 31 2 15 Suche3120 were Transactions General Journal Worksheet A Income Statement Ready 18 Review View Data Tell Formulas Data Mining Insert Draw Page Layout Conditional Forma % Ariol 10 Format as Table Number Coll Styles te fix June 22: Received a bill for $1,265 from Computer Parts and Repair Co. for repairs to the cu C B 15. June 21: Accounts payable in the amount of S320 were paid 16, June 22: Paid the advertising bill that was received on June 17 17 June 22: Received a bill for $1,265 from Computer Parts and Repair Co. for repairs to the computer equipment 18 June 22: Paid salaries of $1,035 to equipment operators for the week ending June 18. 19. June 23: Cash in the amount of $3,605 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 55,699 was recived for billings 23 June 29Paid the bill received on June 22, from Computer Parts and Repairs Co. June 29: Paid salaries of S1,035 to equipment operators for the week ending June 25. 25 June 30: Received a bill for the amount of $990 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 The tot payment made on June 17 was for June July August and September. Expense the amount associated with one month's rent 8 9 28 A physical inventory showed that only $236.00 worth of office supplies remained on hand as of June 30. 0 31 29. The annual interest rate on the mortgage payable was 7.25 percent. Interest expense for one half month should be computed because the building and land were purchased and the liability incurred on June 16. 62 63 30 Information relating to the prepaid insurance may be obtained from the transaction recorded on June 14 Expense the amount asociated with one half month's Insurance 64 65 FR A review of Byte's job worksheets show that there are unbilled revenues in the mount of 89,250 for the neriod of June Transactions General Journal Workshoot Income Statement Changes in Retan Ren Tools ON Excel File Edit View Insert Format AutoSave ABESU. Home Insert Draw Page Layout Formulas Data Data Window Help NO8112 Review View Data Mining Tell me Conditional Formatting % Format as Table Number Call Styles V10 Paste 836 B36 fx June 22: Received a bill for $1,265 from Computer Parts and Repair Co. for repairs to the computere B C D A review of Byte's job worksheets show that there we wnbilled revenues in the amount of 59.250 for the period of June 28-30 31 32 66 07 BB 60 TO 71 The fixed assets have estimated useful lives as follows: Building - 31 5 years Computer Equipment - 5 years Office Equipment- 70 years Use the right-line method of depreciation Management has decided that sets purchased during a month are treated as if purchased on the first day of the month. The building's scrap value is $7,500. The office equipment has a scrap value of $150. The computer equipment has no scrap value Cakulate the depreciation for one month 72 73 33 A review of the payroll records show that unpaid lies in the amount of 5621 are owed by Byte for three day, June 28-30 74 T5 76 The note payable relating to the June 2, od 10 transactions five-year note, with interest at the rate of 12 percent annually. Interest expense should be computed based on a 16 dwy year [IMPORTANT NOTU: The original note on the computer equipment purchased on June 2 was $112,000 On June 10, cight days bier, 521,500 w road Interest expensem be calculated on the $112,000 for eight days. In addition, interest expense on the 590,500 balance of the loan 6112.000 less $21,500 90.500) scalpulated for the 20 days remaining in the month of June.) 77 178 79 00 35 lectrice we to be computed at the rate 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 Sulements through the Net Income core 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 revenge 62 33 34 85 86 87 68 80 9 01 92 37 Close the expenses Cluse the income summary 39 Close the dividends out 04 95 06 07 96 99 Transactions A Gorum A Workout Pincome sales ant Changes in Retained Eam Ready BE O 18 NO8112 OF Beso AutoSave Data View Tell me Review Data Mining Formulas Draw Home Insert Page Layout % . 10 > HIN!! Conditional Forma Format as Table Cell Styles Number A Paste B 129 F G H B B36 D Not in Balance by -$119,619 Assets 6 7 8 9 10 Current Assets $ 109,173.74 $ 6,385.00 $ 4,600.00 $ 9.200.00 $ 580.00 $ 129,938.74 Accounts Receivable Prepaid Insurance Prepaid Rent Office Supplies Total 12 15 15 16 17 18 21 Long-Term Assets Office Equip Acoum. Depr.-Office Equip Computer Equip Accum. Depe. Computer Equip Building Cost Accum. Depr Building Land Total Total Assets 1,614.00 15.00 $ 1,599.00 $ 200,200.00 3.336.00 $ 196,864.00 $ 119,000.00 295.00 $ 118,705.00 19.000.00 24 25 27 28 20 30 $ 336,168.00 $ 339,814.00 Liabilises + 33 34 35 35 37 38 39 40 Current Liabilities Accounts Payable Advanced Payment Interest Payable Solanes Payable Income Taxes Payable Total $ 2,564.00 $ $ 90892 $ 1,035.00 $ 2,312.00 5 6,819.92 42 43 Long-Term Liabilities Mortgage Payable Notes Payable Total Total Lists 5 126,100.00 90.500.00 216.600.00 $ 216,000.00 Stockholders Equity 45 40 47 48 49 50 51 52 63 54 55 56 57 Capital Stock Retained Eamings Total Total Liabilities and Stockholder's Equity $ 237,624.00 5.300.35 242,833.35 5:450.493.35 Transactions A General Journal A Worksheet @ Income Statement Changes in i Ready % Excel File Edit View Insert Format Tools Data Window Help AutoSave BEU. NO8112 Home Insert Draw Page Layout Review Formulas Data View Data Mining Tell me Conditional Formatting AN -AA IN Number Call Stres 836 xf june 22: Received a bill for $1,265 from Computer Parts and Repair Co. for repairs to the computer equipmen D B30 A E NIEUWE 3 The Description of transaction OL Panel Dyse of Acting, Inc. led 20.30 hores of this common stick to Jeremy 529,60 inch and with market value of 543, che une Bye of Accounced 2.453 shares of its cock after quiring from Court 551.100 incl. computer games with a wet value of $16.240 und office equipment with a fer value of $644 Byte of Acne Inc. 95.200 in Nidwand 3.400 shares of nak 0 June 2Adement of $20,000 in cable al computer equipment that we purchased for $140.000 Afhversu by ve for the balance 10 one Addional office mailing 5000 was purchmed credit from Dont Computer OS 13 Pune Usery office questing 180 was returned Decent Computer for credit to be and the standing howed by Byte 14 01 se 10 Byw paid $21.500cc balowed on the lune purchase of computer equipment 0 14 Ayar policy covering is complement was parduod by Bly for $5,136 la cash The estivedle of the policy wa June 16 11 10 20 21 09 Lune Cooper of 53.250 was received 10 June 16 typed a big delines for 5119,000, to races and meget. The letos which the building is one is van 519.000. The face of the coot below the building Byte made a cash down payment of $11.900 med executed a mert for the balance. Theme is payable in elegante beginning July L NO 11 Pune 17. Cal of 39,200 was paid for rent for June July August Sepumber. Put them in Bed Rent.ccount 24 11 Tue 17: Biviel 300 brom the local new perfordering 28 27 24 1) 14 Tel Am for the office was purchased for cash 30 31 2 15 Suche3120 were Transactions General Journal Worksheet A Income Statement Ready 18 Review View Data Tell Formulas Data Mining Insert Draw Page Layout Conditional Forma % Ariol 10 Format as Table Number Coll Styles te fix June 22: Received a bill for $1,265 from Computer Parts and Repair Co. for repairs to the cu C B 15. June 21: Accounts payable in the amount of S320 were paid 16, June 22: Paid the advertising bill that was received on June 17 17 June 22: Received a bill for $1,265 from Computer Parts and Repair Co. for repairs to the computer equipment 18 June 22: Paid salaries of $1,035 to equipment operators for the week ending June 18. 19. June 23: Cash in the amount of $3,605 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 55,699 was recived for billings 23 June 29Paid the bill received on June 22, from Computer Parts and Repairs Co. June 29: Paid salaries of S1,035 to equipment operators for the week ending June 25. 25 June 30: Received a bill for the amount of $990 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 The tot payment made on June 17 was for June July August and September. Expense the amount associated with one month's rent 8 9 28 A physical inventory showed that only $236.00 worth of office supplies remained on hand as of June 30. 0 31 29. The annual interest rate on the mortgage payable was 7.25 percent. Interest expense for one half month should be computed because the building and land were purchased and the liability incurred on June 16. 62 63 30 Information relating to the prepaid insurance may be obtained from the transaction recorded on June 14 Expense the amount asociated with one half month's Insurance 64 65 FR A review of Byte's job worksheets show that there are unbilled revenues in the mount of 89,250 for the neriod of June Transactions General Journal Workshoot Income Statement Changes in Retan Ren Tools ON Excel File Edit View Insert Format AutoSave ABESU. Home Insert Draw Page Layout Formulas Data Data Window Help NO8112 Review View Data Mining Tell me Conditional Formatting % Format as Table Number Call Styles V10 Paste 836 B36 fx June 22: Received a bill for $1,265 from Computer Parts and Repair Co. for repairs to the computere B C D A review of Byte's job worksheets show that there we wnbilled revenues in the amount of 59.250 for the period of June 28-30 31 32 66 07 BB 60 TO 71 The fixed assets have estimated useful lives as follows: Building - 31 5 years Computer Equipment - 5 years Office Equipment- 70 years Use the right-line method of depreciation Management has decided that sets purchased during a month are treated as if purchased on the first day of the month. The building's scrap value is $7,500. The office equipment has a scrap value of $150. The computer equipment has no scrap value Cakulate the depreciation for one month 72 73 33 A review of the payroll records show that unpaid lies in the amount of 5621 are owed by Byte for three day, June 28-30 74 T5 76 The note payable relating to the June 2, od 10 transactions five-year note, with interest at the rate of 12 percent annually. Interest expense should be computed based on a 16 dwy year [IMPORTANT NOTU: The original note on the computer equipment purchased on June 2 was $112,000 On June 10, cight days bier, 521,500 w road Interest expensem be calculated on the $112,000 for eight days. In addition, interest expense on the 590,500 balance of the loan 6112.000 less $21,500 90.500) scalpulated for the 20 days remaining in the month of June.) 77 178 79 00 35 lectrice we to be computed at the rate 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 Sulements through the Net Income core 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 revenge 62 33 34 85 86 87 68 80 9 01 92 37 Close the expenses Cluse the income summary 39 Close the dividends out 04 95 06 07 96 99 Transactions A Gorum A Workout Pincome sales ant Changes in Retained Eam Ready BE O 18 NO8112 OF Beso AutoSave Data View Tell me Review Data Mining Formulas Draw Home Insert Page Layout % . 10 > HIN!! Conditional Forma Format as Table Cell Styles Number A Paste B 129 F G H B B36 D Not in Balance by -$119,619 Assets 6 7 8 9 10 Current Assets $ 109,173.74 $ 6,385.00 $ 4,600.00 $ 9.200.00 $ 580.00 $ 129,938.74 Accounts Receivable Prepaid Insurance Prepaid Rent Office Supplies Total 12 15 15 16 17 18 21 Long-Term Assets Office Equip Acoum. Depr.-Office Equip Computer Equip Accum. Depe. Computer Equip Building Cost Accum. Depr Building Land Total Total Assets 1,614.00 15.00 $ 1,599.00 $ 200,200.00 3.336.00 $ 196,864.00 $ 119,000.00 295.00 $ 118,705.00 19.000.00 24 25 27 28 20 30 $ 336,168.00 $ 339,814.00 Liabilises + 33 34 35 35 37 38 39 40 Current Liabilities Accounts Payable Advanced Payment Interest Payable Solanes Payable Income Taxes Payable Total $ 2,564.00 $ $ 90892 $ 1,035.00 $ 2,312.00 5 6,819.92 42 43 Long-Term Liabilities Mortgage Payable Notes Payable Total Total Lists 5 126,100.00 90.500.00 216.600.00 $ 216,000.00 Stockholders Equity 45 40 47 48 49 50 51 52 63 54 55 56 57 Capital Stock Retained Eamings Total Total Liabilities and Stockholder's Equity $ 237,624.00 5.300.35 242,833.35 5:450.493.35 Transactions A General Journal A Worksheet @ Income Statement Changes in i Ready
Posted Date: