I need help solving 32,34,and 35
32. 4 2 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. 37. A review of the payroll records show that unpaid salaries in the amount of $516 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 $136,000. On June 10, eight days later, $26,000 was repaid. Interest expense must be calculated on the $136,000 for eight days. In addition, interest expense on the $110,000 balance of the loan ($136,000 less $26,000 = $110,000) 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.) 5. BW3441.xlsx - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Foxit PDF % Arial -10 General AA === Wrap Text A.EEZEE Merge & Center Paste BIU - $ - % Clipboard Font Conditional Form Formatting Tab Styles Alignment Number C176 4 F G A B D E A Byte of Accounting, Inc. General Journal Note: You can only enter data into the yellow filled cells. Transaction Date Account Name Description Debit Credit 01 01 01 Jun 01 Jun 01 Jun 01 1110|Cash 1311 Computer Equip 3100 Capital Stock common stock issued to jeremy common stock issued to jeremy common stock issued to jeremy 24,610.00 36 110 00 60.720.00 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 02 02 02 02 Jun 01 Jun 01 Jun 01 Jun 01 1110|Cash 1311 Computer Equip 1211 Office Equip 3100 Capital Stock common stock issued common stock issued common stock issued common stock issued 33 350 00 9.660 00 598.00 03 03 43.608.00 Jun 01 Jun 01 1110 Cash 3100 Capital Stock common stock issued common stock issued 82 800 00 82 800.00 04 04 04 Jun 02 1311) Computer Equip Jun 02 1110 Cash Jun 02 2202 Notes Payable Transactions General Journal computer bought in cash and notes 170,000.00 computer bought in cash and notes payablo 34 000 00 computer bought in cash and notes payable 136 000 00 Worksheet Income Statement Changes in Retai READY - B. BW3441.xlsx - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Foxit PDF X Arial -110 AA== Wrap Text General Paste BIU A Merge & Center $ % & Conditional Format as Cell Clipboard Formatting Table Styles Font Alignment Number Styles C176 1 X D F G H 1 A Byte of Accounting, Inc. 2 General Journal 3 Note: You can only enter data into the yellow filled cells K Transaction Account Date Name 4 25 26 27 Description 05 06 Jun 04 Jun 04 Debit 1211 Ofice Equip 2101 Accounts Payable Credit equioment bought on credit equioment bought on credit 300.00 300.00 06 06 Jun 08 Jun 08 2100 Accounts Payable 1211 once Equip unsatisfactory office equipment unsatisfactory office equipment 60 00 29 30 31 32 33 34 35 35 37 30 30 40 41 42 60.00 07 07 Jun 10 Jun 10 2202 Ndes Payable 1110 Cash be paid balance owed on June 2 byt paid balance owed on June 2 26,000 00 26 000 00 00 Jun 14 110 Prepard Insurance 1110 Cash one year ance policy computer 5976.00 one year ance policy computer coverage Transaction General Journal 5.976.00 Worksheet Statement Changes B 1 C176 X & fr B C E A Byte of Accounting, Inc. General Journal 3 Note: You can only enter data into the yellow filled cells. F G 2 H Transaction Date Account 09 09 Jun 16 Jun 16 Name Description 1110 Cash cash received for consultation 4100 Computer & Consultin cash received for consultation Debit 6.750.00 Credit 6.750.00 10 10 10 10 Jun 16 Jun 16 Jun 16 Jun 16 1510 Land 1411 Building Cost 1110 Cash 2201 Mortgage Payable 1140 Prepaid Rent 1110 Cash land and building purchased land and building purchased land and building purchased land and building purchased 4 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 58 59 120.000.00 23,000.00 11 11 Jun 17 Jun 17 14,300.00 128,700.00 prepaid rent prepaid rent 3,600.00 3.600.00 12 12 Jun 17 Jun 17 5030 Advertising Expense received bill for advertisment 2101 Accounts Payable received bill for advertisment Need An Account Number 400.00 400.00 13 13 Jun 21 Jun 21 1120 Accounts Receivable billed customers for consultations 4100 Computer & Consultin billed customers for consultations 4,400.00 4,400.00 Transactions General Journal READY Worksheet Income Statement Changes in Retail 3 Note: You can only enter data into the yellow filled cells. Transaction Date Account Name Description Debit 14 14 Credit Jun 21 Jun 21 1211 Office Equip 1110 Cash fax machine purchased fax machine purchased 825.00 825.00 15 15 Jun 21 Jun 21 2101 Accounts Payable 1110 Cash accounts payable paid accounts payable paid 240.00 240.00 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 B7 88 89 90 91 92 93 16 16 Jun 22 Jun 22 2101 Accounts Payable 1110 Cash paid advertising bill received on jun paid advertising bill received on jun 17 400.00 400.00 17 17 Jun 22 Jun 22 5040 Repairs & Maint Experecerved bill for computer repairs 2101 Accounts Payable received bill for computer repairs 1.190.00 1.190.00 18 18 Jun 22 Jun 22 5020 Salary Expense 1110 Cash paid saiaries to equipment operators paid salaries to equipment operators 860.00 Transactions 860.00 General Joumal READY Worksheet Account Transad Date Name Description 19 19 Jun 23 Jun 23 Debit 1110 Cash cash received from customers 1120 Accounts Receivable cash received from customers Credit 3.525.00 3.525.00 20 20 Jun 23 Jun 23 1150 Office Supplies 2101 Accounts Payable purchased office supplies on credit purchased office supplies on credit 65500 655.00 21 21 Jun 28 Jun 28 1120 Accounts Receivable biRed customers for consult service 5.385.00 4 100 Computer & Consultin billed customers for consult services performed 5/385.00 22 22 Jun 29 Jun 29 1110 Cash cash eceted 1120 Accounts Receivable cash received 5101001 5 101.00 ININI Jun 29 Jun 29 2101 Accounts Payable 1110 Cash Dard bid paid bil 1.190.00 Transactions 1.190.00 General Journal ADY Worksheet Income Statement Changes in Retas FLE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Foxit PDF 0176 A B F G H D E A Byte of Accounting, Inc. 2 General Journal 3 Note: You can only enter data into the yellow filled cells. Transaction Account Date Name Description Debit Credit 24 24 Jun 29 Jun 29 5020 Salary Expense 1110 Cash paid salaries to equipment operator paid salaries to equipment operators 860.00 850.00 4 120 121 122 123 124 125 126 127 128 129 25 25 Jun 30 Jun 30 5050 Oil & Gas Expense received bill from O and G Oil and G 965 00 1110 Cash received bill from O and G Oil and Gas Co. 965.00 130 26 26 Jun 30 Jun 30 3300 Dividends 1110 Cash 131 132 1331 134 135 135 paid dividend of 0 16 per share paid dividend of 0.16 per share 1,301.76 1 301.76 137 27 27 Jun 30 Jun 30 5010 Rent Expense 1140 Prepaid Rent one month rent expense one month rent expense 1 800.00 138 139 140 141 1 800 00 28 28 Jun 30 Jun 30 5.080 Supplies Expense 1150 Office Supplies supplies expensed supplies expensed 385.00 385.00 Transaction General Journal READY Worksheet Income Statement Chang Transaction 4 146 sia Account Name 5090 Interest Expense 2103 Interest Payable 29 29 147 Description interest expense for one half month 496.03 interest expense for one half month on mortgage Debit Credit 496.03 30 30 Jun 30 Jun 30 5090 Interest Expense 1130 Prepaid Insurance prepaid insurance account charged prepaid insurance account charged 249.00 249.00 31 31 Jun 30 Jun 30 148 149 150 151 152 153 154 155 156 157 158 159 160 151 162 163 166 155 AGG 157 160 169 1120 Accounts Receivable unbilled revenue record 4100 Computer & Consultin unbilled revenue record 9.000 00 9,000.00 321 32 32 32 Jun 301 Jun 30 Jun 30 Jun 30 5110 Depreciation Expense depreciation for one month 1412 Accum. Dep-Building depreciation for one month 1312 Accum Dept Compu depreciation for one month 1212 Accum. Deper Office depreciation for one month 5020 Salary Expense unpaid salaries 2105 Salanes Payable unpaid salaries 33 33 Jun 30 Jun 30 516.00 516.00 Transactions General Journal READY Worksheet come Statement Changes in Reta
