It would not let me do my income statement. Do the retained earnings and advance payments need to be a actual number? I already filled them in with zeros but it still wouldn't let me do it.

- - 5 6 Account Unadjusted Trial Balance Adjusting Entries Adjusted Tral Balance Income Statement 7 Number Name Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debat Credit 8 1110 Cash 50 647 10 50,647.10 49.807 10 9 1120 Accounts Receivable 1,291 00 5,625.00 6.916.00 6.916.00 10 1130 Prepaid Insurance 5,808 00 242.00 5,566.00 5,566 00 11 1140 Prepaid Rent 7,500.00 2.500 00 5 000 00 5,000.00 12 1150 Office Supplies 530.00 316.00 214.00 214.00 13 1211 Office Equip 1,995.00 1,995.00 1,995.00 14 1212 Accum. Dept Office Equip 22 00 22 00 2200 15 1311 Computer Equip 226,420.00 226 420.00 226,420.00 16 1312 Accum. Dep.Computer Equip 3,047.00 3,04700 3,047.00 17 1411 Building Cost 100,000.00 100 000 00 100,000.00 18 1412 Accum. Depr.-Building 242 00 242.00 242.00 19 1510 Land 19,000.00 19,000.00 19,000.00 20 2101 Accounts Payable 1,370.00 1,370 00 1,370.00 21 2102 Advanced Payments 22 2103 Interest Payable 1.484.20 1.484 20 8.00 23 2105 Salaries Payable 546.00 546.00 546 00 24 2106 Income Taxos Payable 2.828 95 2,828.95 2828.95 25 2201 Mortgage Payable 107,100 00 107,100.00 107 100 00 26 2202 Notes Payable 116,500.00 116,500.00 116,500.00 27 3100 Capital Stock 175 890 00 175 890.00 175,890.00 28 3200 Retained Earnings 29 3300 Dividends 1,758.90 1,758 90 1,758.00 30 31 4100 Computer & Consulting Revenue 18.415.00 5,625 00 24.040.00 24,040.00 32 5010 Rent Expense 2.500.00 2 500 00 5,000 00 33 5020 Salary Expense 1,820.00 546.00 2 366 00 2.366 00 34 5030 Advertising Expense 475.00 475.00 475.00 35 5040 Repairs & Maint. Expense 1,190.00 1.190.00 1.190.00 36 5050 Oil & Gas Expense 840.00 840.00 840.00 37 5080 Supplies Expense 316.00 316.00 316 00 38 5090 Interest Expense 1,484 20 1.484 20 1.484 20 39 5100 Insurance Expense 242 00 242.00 242.00 40 5110 Depreciation Expense 3.311.00 3.311.00 3,311 00 41 5120 Income Tax Expense 2.828.95 2.828.95 2,828.95 42 43 44 45 46 47 , 419,275.00 419 275.00 16,853.15 16 853 15 433,070 15 433,070 15 15,653 15 24 040.00 41751700 409.0.30.15 3,486 85 48 8.486.92 NET INCOME 49 24.040 00 24.040.00 417517 00 411 517.00 50 24.04000 24.040 09417517.00 417517 00 51 52 Worksheet Income Statement Changes in Retained Earnings Balance Sheet How to Create a Pivot Table - Dat PROTECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protectes A Xfx 1 B 01. June 1: Byte of Accounting, Inc. issued 2,650 shares of its common stock to Jeremy after $24,20 lin cash and computer equipment with a fair market value of $34,100 were received 02. June 1: Byte of Accounting, Inc. issued 2,545 shares of its common stock after acquiring from Courtney S42,900 in cash, computer equipment with a fair market value of $12,320 and office equipment with a fair value of $770. 03. June 1: Byte of Accounting, Inc. acquired $61,600 in cash from Morgan Grant and issued 2,800 shares of its common stock 04. June 2: A down payment of $36,000 in cash was made on additional computer equipment that was purchased for $180,000. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $500 was purchased on credit from Discount Computer Corporation 06. June 8: Unsatisfactory office equipment costing $100 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 07. June 10: Byte paid $27,500 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 $5,808 in cash The effective date of the policy was June 16. purchased by Byte for 09. June 16: Computer consultation revenue of $7,500 was received. 10. 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. 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 Introduction FAQ Welcome Chart of Accounts Transactions General Journal Works Type here to search O T-IN 24 1 A B Byte of Accounting, Inc. Morgan Grant 2205 Transaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,650 shares of its common stock to Jeremy after $24,200 lin cash and computer equipment with a fair market value of $34,100 were received 5 02. June 1: Byte of Accounting, Inc. issued 2,545 shares of its common stock after acquiring from Courtney S42,900 in cash, computer equipment with a fair market value of $12,320 and office equipment with a fair value of $770. 6 7 03. June 1: Byte of Accounting, Inc. acquired $61,600 in cash from Morgan Grant and issued 2,800 shares of its common stock. 8 9 04. June 2: A down payment of $36,000 in cash was made on additional computer equipment that was purchased for $180,000. A five-year note was executed by Byte for the balance. 10 11 05. June 4: Additional office equipment costing $500 was purchased on credit from Discount Computer Corporation 12 13 06. June 8: Unsatisfactory office equipment costing $100 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 14 15 07. June 10: Byte paid $27,500 on the balance it owed on the June 2 purchase of computer equipment 16 17 08. June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $5,808 in cash. The effective date of the policy was June 16. 18 19 09. June 16: Computer consultation revenue of $7,500 was received 20 21 10. 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 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 22 23 24 11. June 17: Cash of $7,500 was paid for rent for June, July and August. Put the total amount into the Prepaid Rent account Transactions General Journal Worksheet Income Statement Changes in Ready Type here to search fx 1 B 11. June 17: Cash of $7,500 was paid for rent for June, July and August. Put the total amount into the Prepaid Rent account 12. June 17: Received a bill of $475 from the local newspaper for advertising 13. June 21: Billed various miscellaneous local customers $4,900 for consulting services performed. 14. June 21: A fax machine for the office was purchased for $825 cash. 15. June 21: Accounts payable in the amount of S400 were paid. 16. June 22: Paid the advertising bill that was received on June 17 17. June 22: Received a bill for $1,190 from Computer Parts and Repair Co. for repairs to the computer equipment 18. June 22: Paid salaries of $910 to equipment operators for the week ending June 18. 19. June 23: Cash in the amount of $3,925 was received on billings 20. June 23: Purchased office supplies for $330 on credit. Record the purchase as an increase to the assets. 21. June 28: Billed $6,015 to miscellaneous customers for services performed to June 25 5 22. June 29: Cash in the amount of $5,699 was received for billings. 23. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co. 7 B 9 0 61 52 53 24. June 29: Paid salaries of $910 to equipment operators for the week ending June 25. 25. June 30. Received a bill for the amount of $840 from O & Oil and Gas Co. 26. June 30: Paid a cash dividend of $0.22 per share to the three shareholders of Byte. [IMPORTANT NOTE: The number of shares of capital stock outstanding can be determined from the first three transactions. ] 55 56 Adjusting Entries - Round to two decimal places. Transactions General Journal Worksheet Income Statement Changes in Re Ready Type here to search x & fr 1 B 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 with one month's rent. 28. A physical inventory showed that only $214.00 worth of office supplies remained on hand as of June 30. 29. The annual interest rate on the mortgage payable was 7.25 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. 30. Information relating to the prepaid insurance may be obtained from the transaction recorded on June 14. Expense the amount associated with one half month's insurance 31. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $5,625 for the period of June 28-30. 32. The expense for depreciation follows: Building - $242.00 Computer Equipment - $3,047.00 Office Equipment $22.00 33. A review of the payroll records show that unpaid salaries in the amount of $546 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. The June interest expense from this note is $1,160.67 3 9 Transactions General Journal Worksheet Income Statement Changes in Retain Ready Type here to search 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.) Closing Entries 36. Close the revenue accounts 37. Close the expense accounts 38. Close the income summary account 39. Close the dividends account Transactions General Journal Worksheet Income Statement Changes in Reta eady Type here to search