I just need help with 15, 18, 32, 35, 36, 38, 39, 40, 44, 45, 46, 48, 49, 50, 51, and 52.
Please input journal entries for each transaction above.
Thank you!!
A Byte of Accounting, Inc. Worksheet For Period Ending December 31, 2018 Income Statement Debit Credit Balance Sheet Debit Credit Adiusting Entries Debit Credit 25.00 - 8,105.00 - 1.447.50 269.00 Unadiusted Trial Balance Debit Credit 258,208.20 23,662.00 5,090.00 6,456.00 2.600.00 3,400.00 2.225.00 64,100.00 6.100.00 22,000.00 4.400.00 14.276.00 8,715.00 118.00 Account Number Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries and Wages Payable 2106 lincome Taxes Payable 2202 Notes Payable 2210 Bond Payable 2212 Premium on Bond Payable 3100 Common Stock 31201 Paid-In Capital in Excess of Par 3200 Retained Earnings 3300 Dividends - 6,186.25 Adiusted Trial Balance Debit Credit 258,233.20 31.767.00 3.642.50 6,187.00 2.600.00 3,282.00 2.225.00 64,100.00 12,286.25 22,000.00 8.800.00 18.34 1.00 8,715.00 22.95 1.320.00 9,891.72 4.590.00 4.400.00 4,065.00 22.95 1.320.00 9.891.72 4,590.00 192,659,64 66.600.00 14.800.00 24,000.00 192,659.64 66.600.00 14.800.00 24,000.00 2,115.00 2,115.00 440,932.00 8.130.00 449,062.00 1,320.00 31,200.00 103.400.00 4.610.00 15,055.00 4 100 | Sales Revenue 50101 Rent Expense 5020 Salaries and Wages Expense 5030 Advertising Expense 5040 Maintenance & Repairs Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone and Internet Expense 5150 lincome Tax Expense 5300 Cost of Goods Sold 8,369.44 118.00 22.95 269.00 10,586.25 1,447.50 31,200.00 104.720.00 4.610.00 15.055.00 118.00 8.392.39 269.00 10.586.25 1.447.50 6.020.00 9,891.72 227,077.00 6,020.00 223,012.00 9,891.72 4,065.00 779,297.64 779,297.64 35,850.42 35,850.42 813,313.56 813,313.56 TOTAL NET INCOME Balance Description of transaction December 1: a new investor, made an investment in Byte by purchasing 2.100 shares of its common stock paying 546,200.00 in cash. The par value of the common stock was $18.00 per share. December 3: Byte purchased a Ricoh Color Copier for 55,100.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. December 3: Check # 6001 for $2.600.00 was issued by Byte to pay for rent of the office space for December December 3: Byte received 19 Super Toners for resale to customers at a cost of $22.00 per tener. The invoice number was 7249, and requires payment within 30 days. December 10: Byte sold 14 Super Toners to a customer on account for 556,00 each. The Sales order number was 12100 December 10: Byte records the cost of the 14 Super Toners sold using FIFO. The sales order number was 12100. December 11: Check 6002 was issued to pay salaries of $2,200.00 to equipment operators. (Ignore payroll taxes at this time.) December 14: Check 6003 was issued to purchase a one-year insurance policy covering its computer equipment. The cost of the insurance is 56,456.00 and paid to Seth's Insurance. The effective date of the policy was December 16 and the invoice number was 2387. December 15: Byte purchased $ 700.00 of supplies on account. December 16: Byte received 8 Super Toners purchased for resale to customers. The cost was $27.00 per toner. The invoice number was 7959, and payment is required in 30 days. December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the $590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. December 17: Byte received invoice number 26354 in the amount of $650.00 from the local newspaper for advertising December 18: Check 6004 was issued to pay Accounts Payable in the amount or $1.220,00 December 19: Byte sold & Super toners to a customer on account for 556.00 each. The sales order number was 12101 December 19: Byte records the cost of the Super Toners sold using FIFO. The sales order number was 1210 December 21: Byte received an emailed invoice in the amount of $4,300.00 for computers that were drop shipped and received today December 21: Byte billed various miscellaneous local customers 58,600.00 for computers that were delivered today. December 21: Record the cost of the computers that were sold today. December 23: Check # 6005 was issued to pay salaries of $2,200.00 to equipment operators. (Ignore payroll taxes at this time.) December 22: Byte received a bill for $1.415.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. December 22: Check 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. December 22: Byte received 15 Super Teners purchased for resale to customers. The cost was $29.00 per toner. The invoice number was 8988, and payment is required in 30 days. December 23: Byte received $21,750.00 from customers billed when they received delivery. December 23: Byte received an emailed invoice in the amount of $5,550.00 for computers that were drop shipped and received today. December 28: Byte billed various miscellaneous local customers $11,100.00 for computers that were delivered today. December 28: Record the cost of the computers that were sold today. December 28: Byte paid the bill that was previously received and recorded from Computer Parts and Repairs Co with Check 6007. The invoice number was 43254. December 29: Byte received 5930.00 from customers billed when they received delivery. December 29: Byte received a bill for the amount of $630.00 from AT&T for the telephone and internet access. The invoice number was 784537. December 30: Check 6008 was issued to pay salaries of $2,200.00 to equipment operators. (Ignore payroll taxes at this time.) December 30: Check # 6009 was issued to pay a cash dividend of 5.25 per share to Lauryn, a shareholder of Byte December 30: Check #6010 was issued to pay a cash dividend of 5.25 per share to shareholder of Byte December 30: Check # 6009 was issued to pay a cash dividend of 5.25 per share to Lauryn, a shareholder of Byte. December 30: Check W 6010 was issued to pay a cash dividend of .25 per share to shareholder of Byte December 30: Byte received a $8,715.00 check from be delivered in January Corporation for merchandise ordered which will Christian Wolf, Byte's CPA, indicated that the previous bookkeeper was not very good. The CPA prepared a bank reconciliation and discovered that the bookkeeper neglected to record the bond issued on January 1 of this year and neglected the recording of the interest payment on June 30. Since Byte does not make entries into "closed" periods, record the entries as of December 31. December 31: On January 1, Byte received $193,390.20 when they issued a $180,000.00,7%, ten-year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded. December 31: Check 5367 was issued on June 30 for the timely interest payment for the bond. Record the entry using the straight-line method. This entry was never recorded December 31: Check 6011 was issued on December 31st for the timely interest payment for the bond. Record the entry using the straight-line method. Post your journal entries to the general ledger and prepare the lindjusted Trial Balance as of December Bist Make sure your work is correct by uploading your file. The cash received and deposited from customers was 5955.00 not the 5930,00 orignially recorded. A physical inventory showed that only 5582.00 worth of supplies remained on hand as of December 31. The interest on the note for the Ricoh Color Copier will be paid every six months. Record the December accrued interest on the note payable for the Ricoh purchased on December 1. Record a journal entry to reflect that one-half month's insurance has expired. A review of Byte's emails indicated that they received an invoice in the amout of 54,065.00 for computers that were drop shipped and received on December 28. Bill various miscellaneous customers 200% of the cost of the computers that were drop shipped and received on December 28 Record the cost of the computers that were sold on December 28. The computer equipment on the Post Closing Trial Balance from last year was purchased last January for $22,000.00. It is being depreciated based upon an estimated useful life of 5.0 years with no salvage value. Calculate the depreciation for one year using the straight-line method of depreciation. The Ricoh Color Copier, part of the office equipment, is estimated to be able to make 480,000 copies and have a salvage value of $500.00. During December, 9,000 copies were made. Calculate the depreciation for one year using the activity-based method of depreciation. The remaining office equipment, 564,100.00, was purchased last January and has an estimated useful life of 10.0 years with a salvage value of $3,100.00. Calculate the depreciation for one year using the straight-line method of depreciation. A review of Byte's payroll records show that unpaid salaries in the amount of $1,320.00 are owed by Byte for three days, December 28 - 31. (Ignore payroll taxes at this time.) Byte's CPA indicated that 5.00% of the outstanding Accounts Receivable would be a good estimate of the uncollectable accounts. Record the bad debt expense using the adjusted allowance method. The Ricoh Color Copier, part of the office equipment, is estimated to be able to make 480,000 copies and have a salvage value of $500.00. During December, 9,000 copies were made. Calculate the depreciation for one year using the activity-based method of depreciation. The remaining office equipment, 564,100.00, was purchased last January and has an estimated useful life of 10.0 years with a salvage value of 53,100,00. Calculate the depreciation for one year using the straight-line method of depreciation. A review of Byte's payroll records show that unpaid salaries in the amount of $1,320.00 are owed by Byte for three days, December 28-31. (Ignore payroll taxes at this time.) Byte's CPA indicated that 5.00% of the outstanding Accounts Receivable would be a good estimate of the uncollectable accounts. Record the bad debt expense using the adiusted allowance method Byte's income taxes are to be computed at the rate of 25% of net income before taxe IMPORTANT NOTE: Since the income taxes are a percent of the net income, you will want to prepare the Income Statement through the Net Income Before Tax line. Post your adjusting journal entries to the general ledger and prepare the Adjusted Trial Balance as of December Using the Adjusted Trial Balance as of December 31 as a reference, prepare the income Statement, Statement of Stockholder's Equity, Balance Sheet and Statement of Cash Flows. A Byte of Accounting, Inc. Worksheet For Period Ending December 31, 2018 Income Statement Debit Credit Balance Sheet Debit Credit Adiusting Entries Debit Credit 25.00 - 8,105.00 - 1.447.50 269.00 Unadiusted Trial Balance Debit Credit 258,208.20 23,662.00 5,090.00 6,456.00 2.600.00 3,400.00 2.225.00 64,100.00 6.100.00 22,000.00 4.400.00 14.276.00 8,715.00 118.00 Account Number Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries and Wages Payable 2106 lincome Taxes Payable 2202 Notes Payable 2210 Bond Payable 2212 Premium on Bond Payable 3100 Common Stock 31201 Paid-In Capital in Excess of Par 3200 Retained Earnings 3300 Dividends - 6,186.25 Adiusted Trial Balance Debit Credit 258,233.20 31.767.00 3.642.50 6,187.00 2.600.00 3,282.00 2.225.00 64,100.00 12,286.25 22,000.00 8.800.00 18.34 1.00 8,715.00 22.95 1.320.00 9,891.72 4.590.00 4.400.00 4,065.00 22.95 1.320.00 9.891.72 4,590.00 192,659,64 66.600.00 14.800.00 24,000.00 192,659.64 66.600.00 14.800.00 24,000.00 2,115.00 2,115.00 440,932.00 8.130.00 449,062.00 1,320.00 31,200.00 103.400.00 4.610.00 15,055.00 4 100 | Sales Revenue 50101 Rent Expense 5020 Salaries and Wages Expense 5030 Advertising Expense 5040 Maintenance & Repairs Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone and Internet Expense 5150 lincome Tax Expense 5300 Cost of Goods Sold 8,369.44 118.00 22.95 269.00 10,586.25 1,447.50 31,200.00 104.720.00 4.610.00 15.055.00 118.00 8.392.39 269.00 10.586.25 1.447.50 6.020.00 9,891.72 227,077.00 6,020.00 223,012.00 9,891.72 4,065.00 779,297.64 779,297.64 35,850.42 35,850.42 813,313.56 813,313.56 TOTAL NET INCOME Balance Description of transaction December 1: a new investor, made an investment in Byte by purchasing 2.100 shares of its common stock paying 546,200.00 in cash. The par value of the common stock was $18.00 per share. December 3: Byte purchased a Ricoh Color Copier for 55,100.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. December 3: Check # 6001 for $2.600.00 was issued by Byte to pay for rent of the office space for December December 3: Byte received 19 Super Toners for resale to customers at a cost of $22.00 per tener. The invoice number was 7249, and requires payment within 30 days. December 10: Byte sold 14 Super Toners to a customer on account for 556,00 each. The Sales order number was 12100 December 10: Byte records the cost of the 14 Super Toners sold using FIFO. The sales order number was 12100. December 11: Check 6002 was issued to pay salaries of $2,200.00 to equipment operators. (Ignore payroll taxes at this time.) December 14: Check 6003 was issued to purchase a one-year insurance policy covering its computer equipment. The cost of the insurance is 56,456.00 and paid to Seth's Insurance. The effective date of the policy was December 16 and the invoice number was 2387. December 15: Byte purchased $ 700.00 of supplies on account. December 16: Byte received 8 Super Toners purchased for resale to customers. The cost was $27.00 per toner. The invoice number was 7959, and payment is required in 30 days. December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the $590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. December 17: Byte received invoice number 26354 in the amount of $650.00 from the local newspaper for advertising December 18: Check 6004 was issued to pay Accounts Payable in the amount or $1.220,00 December 19: Byte sold & Super toners to a customer on account for 556.00 each. The sales order number was 12101 December 19: Byte records the cost of the Super Toners sold using FIFO. The sales order number was 1210 December 21: Byte received an emailed invoice in the amount of $4,300.00 for computers that were drop shipped and received today December 21: Byte billed various miscellaneous local customers 58,600.00 for computers that were delivered today. December 21: Record the cost of the computers that were sold today. December 23: Check # 6005 was issued to pay salaries of $2,200.00 to equipment operators. (Ignore payroll taxes at this time.) December 22: Byte received a bill for $1.415.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. December 22: Check 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. December 22: Byte received 15 Super Teners purchased for resale to customers. The cost was $29.00 per toner. The invoice number was 8988, and payment is required in 30 days. December 23: Byte received $21,750.00 from customers billed when they received delivery. December 23: Byte received an emailed invoice in the amount of $5,550.00 for computers that were drop shipped and received today. December 28: Byte billed various miscellaneous local customers $11,100.00 for computers that were delivered today. December 28: Record the cost of the computers that were sold today. December 28: Byte paid the bill that was previously received and recorded from Computer Parts and Repairs Co with Check 6007. The invoice number was 43254. December 29: Byte received 5930.00 from customers billed when they received delivery. December 29: Byte received a bill for the amount of $630.00 from AT&T for the telephone and internet access. The invoice number was 784537. December 30: Check 6008 was issued to pay salaries of $2,200.00 to equipment operators. (Ignore payroll taxes at this time.) December 30: Check # 6009 was issued to pay a cash dividend of 5.25 per share to Lauryn, a shareholder of Byte December 30: Check #6010 was issued to pay a cash dividend of 5.25 per share to shareholder of Byte December 30: Check # 6009 was issued to pay a cash dividend of 5.25 per share to Lauryn, a shareholder of Byte. December 30: Check W 6010 was issued to pay a cash dividend of .25 per share to shareholder of Byte December 30: Byte received a $8,715.00 check from be delivered in January Corporation for merchandise ordered which will Christian Wolf, Byte's CPA, indicated that the previous bookkeeper was not very good. The CPA prepared a bank reconciliation and discovered that the bookkeeper neglected to record the bond issued on January 1 of this year and neglected the recording of the interest payment on June 30. Since Byte does not make entries into "closed" periods, record the entries as of December 31. December 31: On January 1, Byte received $193,390.20 when they issued a $180,000.00,7%, ten-year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded. December 31: Check 5367 was issued on June 30 for the timely interest payment for the bond. Record the entry using the straight-line method. This entry was never recorded December 31: Check 6011 was issued on December 31st for the timely interest payment for the bond. Record the entry using the straight-line method. Post your journal entries to the general ledger and prepare the lindjusted Trial Balance as of December Bist Make sure your work is correct by uploading your file. The cash received and deposited from customers was 5955.00 not the 5930,00 orignially recorded. A physical inventory showed that only 5582.00 worth of supplies remained on hand as of December 31. The interest on the note for the Ricoh Color Copier will be paid every six months. Record the December accrued interest on the note payable for the Ricoh purchased on December 1. Record a journal entry to reflect that one-half month's insurance has expired. A review of Byte's emails indicated that they received an invoice in the amout of 54,065.00 for computers that were drop shipped and received on December 28. Bill various miscellaneous customers 200% of the cost of the computers that were drop shipped and received on December 28 Record the cost of the computers that were sold on December 28. The computer equipment on the Post Closing Trial Balance from last year was purchased last January for $22,000.00. It is being depreciated based upon an estimated useful life of 5.0 years with no salvage value. Calculate the depreciation for one year using the straight-line method of depreciation. The Ricoh Color Copier, part of the office equipment, is estimated to be able to make 480,000 copies and have a salvage value of $500.00. During December, 9,000 copies were made. Calculate the depreciation for one year using the activity-based method of depreciation. The remaining office equipment, 564,100.00, was purchased last January and has an estimated useful life of 10.0 years with a salvage value of $3,100.00. Calculate the depreciation for one year using the straight-line method of depreciation. A review of Byte's payroll records show that unpaid salaries in the amount of $1,320.00 are owed by Byte for three days, December 28 - 31. (Ignore payroll taxes at this time.) Byte's CPA indicated that 5.00% of the outstanding Accounts Receivable would be a good estimate of the uncollectable accounts. Record the bad debt expense using the adjusted allowance method. The Ricoh Color Copier, part of the office equipment, is estimated to be able to make 480,000 copies and have a salvage value of $500.00. During December, 9,000 copies were made. Calculate the depreciation for one year using the activity-based method of depreciation. The remaining office equipment, 564,100.00, was purchased last January and has an estimated useful life of 10.0 years with a salvage value of 53,100,00. Calculate the depreciation for one year using the straight-line method of depreciation. A review of Byte's payroll records show that unpaid salaries in the amount of $1,320.00 are owed by Byte for three days, December 28-31. (Ignore payroll taxes at this time.) Byte's CPA indicated that 5.00% of the outstanding Accounts Receivable would be a good estimate of the uncollectable accounts. Record the bad debt expense using the adiusted allowance method Byte's income taxes are to be computed at the rate of 25% of net income before taxe IMPORTANT NOTE: Since the income taxes are a percent of the net income, you will want to prepare the Income Statement through the Net Income Before Tax line. Post your adjusting journal entries to the general ledger and prepare the Adjusted Trial Balance as of December Using the Adjusted Trial Balance as of December 31 as a reference, prepare the income Statement, Statement of Stockholder's Equity, Balance Sheet and Statement of Cash Flows
