M 62 48 Unrecorded transactions: 49 1. On May 1, 2017, Builtu purchased equipment for $42,200 plus sales taxes of $1,600 (all paid in cash). 50 It has a life expectancy of 100,000 units and a residual value of 5% 51 2. On July 1, 2017, Built40 sold for 57,000 equipment which originally cost $10,000. Accumulated 52 depreciation on this equipment at lanuary 1, 2017, was $3,600; 2017 depreciation prior to the sale 53 of the equipment was $700 54 3. On December 31, 2017, Built4U sold on account $18,000 of inventory that cost $12,600 55 4 Built estimates that uncollectible accounts receivable at year-end is $7,000 55 5. The note receivable is a one-year, 8% note dated April 1, 2017 No interest has been recorded 576 The prepaid insurance balance represents payment of a 57,200 6- month premium coverage 59 beginning January 1, 2018 59 7. The building is being depreciated using the straight-line method over 30 years. The salvare value 80 is $60,000 61 8. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost 639 The equipment purchased on May 1, 2017, is being depreciated using the units of production method 64 based on an expected production life of 100,000 units. It produced 13,000 units in 2017 65 10. The patent was acquired on January 1, 2017, and has a useful life of 10 years from that date 86 11. Unpaid salaries and wages at December 31, 2017, remain unrecorded for the following employees 67 4 68 Name Hours Rate Fgd inc Tax St Inc Tay FICA (St inc Tax 69 Jeany Huffa (Supervisor n/a (salarie 73.00 compute compute compute 70 Tony Danza Machine operator) 15.00 busque 21 Paul Bunyon (Meaw loader operator) computt compute compute 40 13.05 93.00 compute compute compute 72 Huck Finn (Inventory control clerk) 40 12.55 73 busque Sally Fields (Final product packer compute compute compute 13.50 7800 compute compute compute Payroll is weekly. Only leany is married and claims withholding allowances. Their only withholding is for FICA at 7 and federal per tables and state income taxes at 4. The remainder payroll costs are paid by the employer. Use IRS Publication 15 75 https://www.is.gov/pub/irs prior/015-2017.pon 70 1,000+ 42 CON 5.0 Health FUTA SUTA en info compute compun data compute compu en data compute como en dat compute compute compun data 43 78 12. In addition to unpaid salaries, Build recognizes payroll taxes for FICA state unemployment 5.4% and federal unemployment 0%, as well as $200 in basic health insurance benefit for its employees 2015. The unearned rent revenue of $12,000 was received on December 1, 2017 for 6 months' rent of excess space B2 14 Both the short-term and long-term notes payable are dated January 1, 2017 and carry a interest 8 rate All interest is payable in the next 12 months 24 structions mucho de lo amarillo es para entrar cantidades e descripciones, como aplique) 56 Prepare journal entries for the transactions listed above as needed. Indicate "No entry needed where appropriate Show your well labeled computations either on the side or a separate tab 880) Prepare an updated December 31, 2017, trial balance 29 Prepare a 2017 income statement and an owner's equity Statement 30d Prepare a December 31, 2017 classified balance sheet M 62 48 Unrecorded transactions: 49 1. On May 1, 2017, Builtu purchased equipment for $42,200 plus sales taxes of $1,600 (all paid in cash). 50 It has a life expectancy of 100,000 units and a residual value of 5% 51 2. On July 1, 2017, Built40 sold for 57,000 equipment which originally cost $10,000. Accumulated 52 depreciation on this equipment at lanuary 1, 2017, was $3,600; 2017 depreciation prior to the sale 53 of the equipment was $700 54 3. On December 31, 2017, Built4U sold on account $18,000 of inventory that cost $12,600 55 4 Built estimates that uncollectible accounts receivable at year-end is $7,000 55 5. The note receivable is a one-year, 8% note dated April 1, 2017 No interest has been recorded 576 The prepaid insurance balance represents payment of a 57,200 6- month premium coverage 59 beginning January 1, 2018 59 7. The building is being depreciated using the straight-line method over 30 years. The salvare value 80 is $60,000 61 8. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost 639 The equipment purchased on May 1, 2017, is being depreciated using the units of production method 64 based on an expected production life of 100,000 units. It produced 13,000 units in 2017 65 10. The patent was acquired on January 1, 2017, and has a useful life of 10 years from that date 86 11. Unpaid salaries and wages at December 31, 2017, remain unrecorded for the following employees 67 4 68 Name Hours Rate Fgd inc Tax St Inc Tay FICA (St inc Tax 69 Jeany Huffa (Supervisor n/a (salarie 73.00 compute compute compute 70 Tony Danza Machine operator) 15.00 busque 21 Paul Bunyon (Meaw loader operator) computt compute compute 40 13.05 93.00 compute compute compute 72 Huck Finn (Inventory control clerk) 40 12.55 73 busque Sally Fields (Final product packer compute compute compute 13.50 7800 compute compute compute Payroll is weekly. Only leany is married and claims withholding allowances. Their only withholding is for FICA at 7 and federal per tables and state income taxes at 4. The remainder payroll costs are paid by the employer. Use IRS Publication 15 75 https://www.is.gov/pub/irs prior/015-2017.pon 70 1,000+ 42 CON 5.0 Health FUTA SUTA en info compute compun data compute compu en data compute como en dat compute compute compun data 43 78 12. In addition to unpaid salaries, Build recognizes payroll taxes for FICA state unemployment 5.4% and federal unemployment 0%, as well as $200 in basic health insurance benefit for its employees 2015. The unearned rent revenue of $12,000 was received on December 1, 2017 for 6 months' rent of excess space B2 14 Both the short-term and long-term notes payable are dated January 1, 2017 and carry a interest 8 rate All interest is payable in the next 12 months 24 structions mucho de lo amarillo es para entrar cantidades e descripciones, como aplique) 56 Prepare journal entries for the transactions listed above as needed. Indicate "No entry needed where appropriate Show your well labeled computations either on the side or a separate tab 880) Prepare an updated December 31, 2017, trial balance 29 Prepare a 2017 income statement and an owner's equity Statement 30d Prepare a December 31, 2017 classified balance sheet