Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help with journal entries on transactions # 29, 32, 34, 35, 36, 37, 38, and 39 Byte of Accounting, Inc. Description of t ransaction

image text in transcribed

image text in transcribed

image text in transcribed

Need help with journal entries on transactions # 29, 32, 34, 35, 36, 37, 38, and 39

Byte of Accounting, Inc. Description of t ransaction June 1: Byte of Accounting, Inc. issued 2.560 shares of its common slock to Jeremy atter 523.690 in cash and computer equipment with a fair market value of $35.190 were received o1. e 1: Byte of Accounting, Inc. issued 2,016 shares of its common stock after acquiring from $33,350 in cash, computcr equipment with a fair market value of $12,420 and office inment with a fair value of $598. June I: Byte of Accounting. Inc acquired $82,800 in cash from Robert d issued 03, 3,500 shares of its common sock June 2: A down payment of $30,000 in cash vwas made on additional computer equipment that June 4: Additional office equipment costing $700 was purchased on crodit from Discount 04. 05. une Unsocy office equipmen costing S1-4D was retumed to Discount Computer fo 06. credit to be applied against the outstanding balance owed by Byte June 10: Byte paid $23,000 on the balance it owed co the June 2 purchase of computer June 14: A one-year insurance policy covering its computer eqaipment was purchased by Byte for 07. 08. 5,304 in cash. The effective date of the policy was June 1 6 r conssaltation revenue of Si,750 was received. June 16: Byte purchased a building and the land it is on for $107,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued ui $17,000. The balance of the cost is to be allocated to the building. Byte made a cash down payment ofr ST0,700 and executed a mongage for the balance. The mortgage is payable in eight June 17: Cash of $9,600 was paid for rent for June, July, August and September. Put the total ln 21 Billed arisoses misel laneous locel customers $4,400 for consalhing Services performed. June 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

1. Keep a reasonable distance.

Answered: 1 week ago