I need help with entries 28,29,32,34,35,36,37,38,39

Please explain throughly!

Home Insert Page Layout Formulas Data Review View Automate Help Times New Roman General Paste % Clipboard Font Alignment Number fx calculated on the $120,000 for eight days. In addition, interest expense on the $97,00 B 07. June 10: Byte paid $23,000 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 $5,304 in cash. The effective date of the policy was June 16. 09 June 16: A check in the amount of $8.000 was received for consulting revenue. 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. 10. 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 $4.800 was paid for rent for June. July and August. Put the total amount into the 12. June 17: Received a bill of $275 from the local newspaper for advertising. 13 June 21: Accounts payable in the amount of $240 were paid 14. June 21: A fax machine for the office was purchased for $750 cash. Chart of Accounts General Journal Transactions Sheet1 Sheet2 Worksheet Ing ... Ready Accessibility: Investigate 79 F O Search Sunny hp . ... .X Times New Roman 12 General Paste ~ % Clipboard Font Alignment Number calculated on the $120,000 for eight days. In addition, interest expense on the $9 B statement.] Closing Entries 36. Close the revenue accounts 37. Close the expense accounts 38. Close the income summary account. 39 Close the dividends account. 99 100 101 102 103 104 Chart of Accounts General Journal Transactions Sheet1 Sheet2 Worksheet Inc Ready Accessibility: Investigate 79 F Search Sunny hpHome insert Page Layout Formulas Data Review View Automate Help Times New Roman 12 A General Paste $ - % " Undo Clipboard Font Alignment Number 79 1X v fx calculated on the $120,000 for eight days. In addition, interest expense on the $ A B 15 June 21: Billed various miscellaneous local customers $4,600 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 $1,115 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. 10 19 June 23: Purchased office supplies for $505 on credit. Record the purchase as an increase to the 42 43 20. June 23: Cash in the amount of $3.685 was received on billings. 44 45 21. June 28: Billed $6,015 to miscellaneous customers for services performed to June 25. 46 47 22 June 29: Paid the bill received on June 22. from Computer Parts and Repairs Co 48 49 23 June 29: Cash in the amount of $5,699 was received for billings. 50 51 24 June 29: Paid salaries of $935 to equipment operators for the week ending June 25 52 53 25 June 30: Received a bill for the amount of $1.015 from O & G Oil and Gas Co. Chart of Accounts General Journal Transactions Sheet1 Sheet2 Worksheet Inc Ready 1% Accessibility: Investigate 79 F O Search Sunny hpHome insert Page Layout Formulas Data Review View Automate Help X Times New Roman 12 General Paste ~ % Undo Clipboard 5 Font Alignment Number 79 calculated on the $120,000 for eight days. In addition, interest expense on the A B 17. June 22: Received a bill for $1,115 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 $505 on credit. Record the purchase as an increase to the 20 June 23: Cash in the amount of $3,685 was received on billings. 21. June 28: Billed $6,015 to miscellaneous customers for services performed to June 25. 16 47 22 June 29: Paid the bill received on June 22. from Computer Parts and Repairs Co. 48 49 23. June 29: Cash in the amount of $5,699 was received for billings. 50 51 24. June 29: Paid salaries of $935 to equipment operators for the week ending June 25. 52 53 25. June 30: Received a bill for the amount of $1.015 from O & G Oil and Gas Co. 54 55 26 June 30: Paid a cash dividend of $0.22 per share to the three shareholders of Byte. 56 57 Adjusting Entries - Round to two decimal places. 58 Chart of Accounts General Journal Transactions Sheet1 Sheet2 Worksheet Inc Ready Ex Accessibility: Investigate 79 F Search SunnyTimes New Roman 12 General Paste $ - % " Clipboard Font Alignment Number calculated on the $120,000 for eight days. In addition, interest expense on the $97, A B 32 The fixed assets have estimated useful lives as follows: Building - 31.5 years Computer Equipment - 5.0 vears 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 $500. The office equipment has a scrap value of $400. 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 34. The note payable relating to the June 2. and 10 transactions is a five-year note. with interest at the [IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was calculated on the $120.000 for eight days. In addition. interest expense on the $97.000 balance of! 35 ncome 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 Chart of Accounts General Journal Transactions Sheet1 Sheet2 Worksheet Inc . Ready Accessibility: Investigate Search SunnyAuntie On TI8763xbb - Saved v O Search Home insert Page Layout Formulas Data Review View Automate Help Times New Roman 12 General Paste A $ ~ % 9 Undo Clipboard Font Alignment Number 79 x v fx calculated on the $120,000 for eight days. In addition, interest expense on the $97,000 B Rule of Accounting Tor Tivana Teel 9062 Transaction Description of transaction 01. June 1: Byte of Accounting, Inc. acquired $52,200 in cash from Lauryn and issued 1,800 shares of its common stock. 02. June 1: Byte of Accounting, Inc. issued 2.560 shares of its common stock to Tiyana Teel after $31,030 in cash and computer equipment with a fair market value of $43,210 were received. June 1: Byte of Accounting, Inc. issued 2,656 shares of its common stock after acquiring from 03 Courtney $62,350 in cash, computer equipment with a fair market value of $13,920 and office 9 equipment with a fair value of $754. 10 June 2: A down payment of $30,000 in cash was made on additional computer equipment that 04 11 was purchased for $150,000. A five-year note was executed by Byte for the balance. 12 June 4: Additional office equipment costing $300 was purchased on credit from Discount 05 13 Computer Corporation. 14 Chart of Accounts General Journal Transactions Sheet1 Sheet2 Worksheet Inc .. Ready Accessibility: Investigate 84 F O Search Partly sunny . . . .. .Home insert Page Layout Formulas Data Review View Automate Help X Times New Roman 12 General LA Paste % Clipboard Font Alignment Number X V fx calculated on the $120,000 for eight days. In addition, interest expense on the $97,0 A B 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 $1,015 from O & G Oil and Gas Co. 26. June 30: Paid a cash dividend of $0.22 per share to the three shareholders of Byte. Adjusting Entries - Round to two decimal places. 27 The rent payment made on June 17 was for June. July and August. Expense the amount associated 28 A physical inventory showed that only $202.00 worth of office supplies remained on hand as of 29. The annual interest rate on the mortgage payable was 7.25 percent. Interest expense for one-half 30. Information relating to the prepaid insurance may be obtained from the transaction recorded on 31. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $9.000 32. The fixed assets have estimated useful lives as follows: Building - 31.5 years Computer Equipment - 5.0 vears 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 $500 The office equipment has a scran value of $400 The computer enumment has no scran Chart of Accounts General Journal Transactions Sheet1 Sheet2 Worksheet Ready 7% Accessibility: Investigate O Search whip Sunny hp :. . .