Im in desperate need of help my passing grade depends on this assignment due this sunday. I need answers for Transactions 32-38, I have provided the transactions question. PLZZ HELPL!!
The annual interest rate on the mortgage payable was 8.50 percent. Interest expense for onehalf month should be computed because the building and land were purchased and the liability incurred on Juse 16. 33. A review of the payroll records show that unpaid salaries in the amount of $516.00 are owed by Byte for three days, June 28 - 30. Iguore payroll taxes. at the rate of 12 percent annually. Interest expense should be computed based on a 360 day [IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was $112,000.00. On June 10, eight days later, $21,500.00 was repaid. Interest expense must be calculated on the $112,000.00 for eight days. In addition, interest expense on the $90,500.00 days remaiance of the loan ($112,000.00 less $21,500.00=$90,500.00) must be calculated for the 20 days remaining in the month of June.] \begin{tabular}{|l|l} \hline & Closing Entries \\ \hline & \\ \hline 35. & Close the revenue accounts. \\ \hline 36. & Close the expeuse accounts. \\ \hline & \\ \hline 37. & Close the income summary account. \\ \hline & \\ \hline 38. & Close the withdrawals account. \\ \hline & \\ \hline \end{tabular} Note: You can only enter data into the yellow filled cells. \begin{tabular}{|l|l|l|l|l|l|l|} \hline 181 & 36 & Jun 30 & 3400 & Income Summary & transfer to expense \\ \hline 182 & 36 & Jun 30 & 5010 & Rent Expense & transfer to expense \\ \hline 183 & 36 & Jun 30 & 5020 & Salary Expense & transfer to expense \\ \hline 184 & 36 & Jun 30 & 5030 & Advertising Expense & transfer to expense \\ \hline \end{tabular} Fitady P. Type here to search Nata: Ynus can only enter data info the yellow filled cells. The annual interest rate on the mortgage payable was 8.50 percent. Interest expense for onehalf month should be computed because the building and land were purchased and the liability incurred on Juse 16. 33. A review of the payroll records show that unpaid salaries in the amount of $516.00 are owed by Byte for three days, June 28 - 30. Iguore payroll taxes. at the rate of 12 percent annually. Interest expense should be computed based on a 360 day [IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was $112,000.00. On June 10, eight days later, $21,500.00 was repaid. Interest expense must be calculated on the $112,000.00 for eight days. In addition, interest expense on the $90,500.00 days remaiance of the loan ($112,000.00 less $21,500.00=$90,500.00) must be calculated for the 20 days remaining in the month of June.] \begin{tabular}{|l|l} \hline & Closing Entries \\ \hline & \\ \hline 35. & Close the revenue accounts. \\ \hline 36. & Close the expeuse accounts. \\ \hline & \\ \hline 37. & Close the income summary account. \\ \hline & \\ \hline 38. & Close the withdrawals account. \\ \hline & \\ \hline \end{tabular} Note: You can only enter data into the yellow filled cells. \begin{tabular}{|l|l|l|l|l|l|l|} \hline 181 & 36 & Jun 30 & 3400 & Income Summary & transfer to expense \\ \hline 182 & 36 & Jun 30 & 5010 & Rent Expense & transfer to expense \\ \hline 183 & 36 & Jun 30 & 5020 & Salary Expense & transfer to expense \\ \hline 184 & 36 & Jun 30 & 5030 & Advertising Expense & transfer to expense \\ \hline \end{tabular} Fitady P. Type here to search Nata: Ynus can only enter data info the yellow filled cells
