i need help with these transactions please
June 16: Byte purchased a building and the land it is on for $113,000.00 to house its repair facilities and to store 10 computer equipment. The lot on which the building is located is valucd at $18,000.00. The balance of the cost is to 11,300.00. A thirty year Transaction Description of transaction June 1: Hudson Bloom invested $152,691.00 cash and computer equipment with a fair market value of $31,710.00 his new business, Byte of Accounting mortgage with inital payement due on August 1st, was established for the balance. 11. June 17: Check # 5006 for $4,000.00 was paid for rent for June and July. June 1: Check # 5000 was used to purchased computer equipment costing $12,180.00 from Jordan Pitisci. The 02 invoice number was 20117 12. June 17: Received invoice number 26354 in the amount of $325.00 from the local newspaper for advertising. June 1: Check # 5001 was used to purchased office equipment costing $861.00 from Office Express. The invoice number was 87417 Accounts payable in the amount of $400.00 were paid with Check # 5007 13. June 21 June 2: Check # 5002 was used to make a down payment of S35,000.00 on additional computer equipment that was .June 21: Check # 5008 was used to purchase a fax machine for the office from Office Machines Express for 04. purchased from Royce Computers, invoice number 76542. The full price of the computer was $175,000.00. A five- $750.00, The invoice number was 975-328. year note was executed by Byte for the balance. 15. June 21: Billed various miscellaneous customers $4,500.00 for consulting services performed. June 4: Additional office cquipment costing $500.00 was purchased on credit from Discount Computer 05 Corporation. The invoice number was 98432 June 22: Check # 5009 was used to pay salaries of $860.00 to equipment operators for the week ending June 18 16 Ignore payroll taxes. June 8: Unsatisfactory office equipment costing $100.00 from invoice number 98432 was returned to Discount D6 Computer for credit to be applied against the outstanding balance owed by Byte. June 22: Rcceivcd a bill for $1,165.00 from Computer Parts and Repair Co. for repairs to the computer cquipment. 17 The invoice number was 43254. June 10: Check # 5003 was used to make a S26,750.00 payment reducing the prinicpal owed on the June 2 purchase of computer equipment from Royce Computers 18. June 22: Check # 5010 was used to pay the advertising bill that was received on June 17. June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for OB 19. June 23: Purchased office supplies for $555,00 from Staples on account. The invoice number was 65498, invoice number was 2387. $5.304.00 from Seth's Insurance. The effective date of the policy was June S and 20. June 23: Cash the amount of $3,605.00 was received on billings 09. June 16: A check in the amount of $6,500.00 was received for services performed for Pitman Pictures. 21. June 28: Billed $5,700.00 to miscellancous customers for services performed to June 25 22. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co with Check # 5011. Math 23. June 29: Cash in the amount of $5,400.00 was received for billings. June 29: Check # 5012 was used to pay salaries of $860.00 to equipment operators for the week ending June 25. 24. Ignore payroll taxes. 25, June 30: Received a bill for the amount of $940,00 from O & G Oil and Gas Co.. The invoice number was 784537 June 30: Check # 5013 was used to pay for airline tickets of $1,900.00 to send the kids to Grandma Ellen for the 26 July 4th holiday Adjusting Entries Round to two decimal places. The rent payment made on June 17 was for June and July, Expense the amount associated with one month's rent 27. 28. A physical inventory showed that only $225.00 worth of office supplies remained on hand as of June 30. The annual interest rate on the mortgage payable was 8.75 percent. Interest expense for one-half month should be 29 computed because the building and land were purchased and the liability incurred on June 16 30. Record a journal entry to reflect that one half month's insurance has expired. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $5,375.00 for the period 31. of June 28-30. The fixed assets have estimated useful lives as follows: Building 31.5 years Computer Equipment - 5.0 years 32. Office Equipment 7.0 years Use the straight-line method of depreciation. Management has decided that assets treated as if purchased on the first day of the month. The building's scrap value is $7,500.00. The office equipment has a scrap value of $400.00. The computer equipment has no scrap value. Calculate the depreciation for one purchased during a month are month A review of the payroll records show that unpaid salaries in the amount of $516.00 are owed by Byte for three 33 days, June 28 - 30. Ignore payroll taxes. The note payable 34 percent annually. Interest expense should be computed based on a 360 day year to Royce Computers (transactions 04 and 07) is a five-year note, with interest at the rate of 12 Closing Entries 35. Close the revenue accountsS 36. Close the expense accounts. 37. Close the income summary account. 38. Close the withdrawals account. A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Transaction Date Account 22 Name Description 23 24 25 26 27 28 en June 16: Byte purchased a building and the land it is on for $113,000.00 to house its repair facilities and to store 10 computer equipment. The lot on which the building is located is valucd at $18,000.00. The balance of the cost is to 11,300.00. A thirty year Transaction Description of transaction June 1: Hudson Bloom invested $152,691.00 cash and computer equipment with a fair market value of $31,710.00 his new business, Byte of Accounting mortgage with inital payement due on August 1st, was established for the balance. 11. June 17: Check # 5006 for $4,000.00 was paid for rent for June and July. June 1: Check # 5000 was used to purchased computer equipment costing $12,180.00 from Jordan Pitisci. The 02 invoice number was 20117 12. June 17: Received invoice number 26354 in the amount of $325.00 from the local newspaper for advertising. June 1: Check # 5001 was used to purchased office equipment costing $861.00 from Office Express. The invoice number was 87417 Accounts payable in the amount of $400.00 were paid with Check # 5007 13. June 21 June 2: Check # 5002 was used to make a down payment of S35,000.00 on additional computer equipment that was .June 21: Check # 5008 was used to purchase a fax machine for the office from Office Machines Express for 04. purchased from Royce Computers, invoice number 76542. The full price of the computer was $175,000.00. A five- $750.00, The invoice number was 975-328. year note was executed by Byte for the balance. 15. June 21: Billed various miscellaneous customers $4,500.00 for consulting services performed. June 4: Additional office cquipment costing $500.00 was purchased on credit from Discount Computer 05 Corporation. The invoice number was 98432 June 22: Check # 5009 was used to pay salaries of $860.00 to equipment operators for the week ending June 18 16 Ignore payroll taxes. June 8: Unsatisfactory office equipment costing $100.00 from invoice number 98432 was returned to Discount D6 Computer for credit to be applied against the outstanding balance owed by Byte. June 22: Rcceivcd a bill for $1,165.00 from Computer Parts and Repair Co. for repairs to the computer cquipment. 17 The invoice number was 43254. June 10: Check # 5003 was used to make a S26,750.00 payment reducing the prinicpal owed on the June 2 purchase of computer equipment from Royce Computers 18. June 22: Check # 5010 was used to pay the advertising bill that was received on June 17. June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for OB 19. June 23: Purchased office supplies for $555,00 from Staples on account. The invoice number was 65498, invoice number was 2387. $5.304.00 from Seth's Insurance. The effective date of the policy was June S and 20. June 23: Cash the amount of $3,605.00 was received on billings 09. June 16: A check in the amount of $6,500.00 was received for services performed for Pitman Pictures. 21. June 28: Billed $5,700.00 to miscellancous customers for services performed to June 25 22. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co with Check # 5011. Math 23. June 29: Cash in the amount of $5,400.00 was received for billings. June 29: Check # 5012 was used to pay salaries of $860.00 to equipment operators for the week ending June 25. 24. Ignore payroll taxes. 25, June 30: Received a bill for the amount of $940,00 from O & G Oil and Gas Co.. The invoice number was 784537 June 30: Check # 5013 was used to pay for airline tickets of $1,900.00 to send the kids to Grandma Ellen for the 26 July 4th holiday Adjusting Entries Round to two decimal places. The rent payment made on June 17 was for June and July, Expense the amount associated with one month's rent 27. 28. A physical inventory showed that only $225.00 worth of office supplies remained on hand as of June 30. The annual interest rate on the mortgage payable was 8.75 percent. Interest expense for one-half month should be 29 computed because the building and land were purchased and the liability incurred on June 16 30. Record a journal entry to reflect that one half month's insurance has expired. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $5,375.00 for the period 31. of June 28-30. The fixed assets have estimated useful lives as follows: Building 31.5 years Computer Equipment - 5.0 years 32. Office Equipment 7.0 years Use the straight-line method of depreciation. Management has decided that assets treated as if purchased on the first day of the month. The building's scrap value is $7,500.00. The office equipment has a scrap value of $400.00. The computer equipment has no scrap value. Calculate the depreciation for one purchased during a month are month A review of the payroll records show that unpaid salaries in the amount of $516.00 are owed by Byte for three 33 days, June 28 - 30. Ignore payroll taxes. The note payable 34 percent annually. Interest expense should be computed based on a 360 day year to Royce Computers (transactions 04 and 07) is a five-year note, with interest at the rate of 12 Closing Entries 35. Close the revenue accountsS 36. Close the expense accounts. 37. Close the income summary account. 38. Close the withdrawals account. A Byte of Accounting General Journal Note: You can only enter data into the yellow filled cells. Transaction Date Account 22 Name Description 23 24 25 26 27 28 en
