Need help with Question 29, 32, 33, 34,35,36,38!!! please!!!

Transaction Description of transaction 01. June 1: Courtney, an investor, made an investment in Byte by purchasing 2,600 shares of its common stock paying $54,600.00 in cash. 02. June 1: Yuyang Liu, an investor, made an investment in Byte by purchasing 2,620 shares of its common stock paying $22,050.00 in cash, and contributing to Byte computer equipment with a fair market value of $32,970. 03. June 1: Jeremy, an investor, made an investment in Byte by purchasing 2,388 shares of its common stock paying $36,750.00 in cash, and contributing to Byte computer equipment with a fair market value of $12,600 and office equipment with a fair value of $798. 04. June 2: Check # 6001 for $30,000 was issued as a down payment for new computer equipment that cost $150,000 on invoice 827364 from Dell. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $4,200 was purchased on credit from Perez's Discount Computer Corporation, invoice number AB9865. 06. June 4: Defective office equipment costing $840 was returned to Perez's Discount Computer for credit to be applied against the outstanding balance owed by Byte. 07. June 10: Check # 6002 was issued for $23,000 as a partial payment on the balance owed to Dell related to the purchase of computer equipment, invoice 827364. 08. June 14: Check # 6003 was issued to purchase a one-year insurance policy covering its computer equipment. The cost of the insurance is $6,312.00 and paid to Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. 09. June 16: A check in the amount of $7,500 was received for services performed for Pitman Pictures. 10. June 16: Byte purchased a building and the land it is on for $143,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $23,000.00 The balance of the cost is to be allocated to the building. Check # 6004 was used to make the down payment of $14,300.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. 11. June 17: Check # 6005 for $3,200.00 was paid for rent for June and July. Put the total amount into the Prepaid Rent account. 12. June 17: Byte received invoice number 26354 in the amount of $325.00 from Fida Marketing Agency for advertising. 13. June 21: Accounts payable in the amount of $3,360.00 were paid with Check # 6006. 14. June 21: Check # 6007 was used to purchase a scanning machine for the office from Sicre's Office Machines Express for $750.00. The invoice number was 975-328. June 21: Dieu various miscellaneous local customers $4,000 for Consulting services 15. 16. June 22: Check # 6008 was used to pay salaries of $2,455.00 to equipment operators for the week ending June 18. Ignore payroll taxes. 17. June 22: Received a bill for $1,265.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 18. June 22: Check # 6009 was used to pay invoice number 26354, the advertising bill that was previously received from Fida Digital Marketing Agency. 19. June 23: Purchased office supplies for $555.00 from Office Max on account. The invoice number was 65498. 20. June 23: Cash in the amount of $3,685 was received on billings. 21. June 20: Dieu various miscellaneous locai Customers >3,803 lor consunting services 22. June 29: Check # 6010 was used to pay invoice number 43254, the computer repair bill that was previously received from Computer Parts and Repair Co. 23. June 29: Byte received $5,500.00 from customers billed when work was completed. 24. June 29: Check # 6011 was used to pay salaries of $2,455.00 to equipment operators for the week ending June 25. Ignore payroll taxes. 25. June 30: Received a bill for the amount of $865.00 from 0 & G Oil and Gas Co. The invoice number was 784537. 26. June 30: Paid a cash dividend of $0.20 per share to the three shareholders of Byte, using Check # 6012 - 6014. [IMPORTANT NOTE: The number of shares of capital stock outstanding can be determined from the first three transactions.] Adjusting Entries - Round to two decimal places =ROUND(number,num_digits). 27. June 30: The rent payment made in transaction# ll was for June and July. Expense the amount associated with one month's rent. 28. June 30: A physical inventory showed that only $225.00 worth of office supplies remained on hand as of June 30. 29. June 30: The annual interest rate on the mortgage payable was 7.75 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. June 30: Information relating to the prepaid insurance may be obtained from transaction #8. Record a journal entry to reflect that one half month's insurance has expired. 31. June 30: A review of Byte's job worksheets show that there are unbilled revenues in the amount of $5,500 for the period of June 28-30. 32. Building - 31.5 years Computer Equipment - 5.0 years Office Equipment - 7.0 years Use the straight-line method of depreciation. Management has decided that assets purchased during a month are treated as if purchased on the first day of the month. The building's scrap value is $7,000. The office equipment has a scrap value of $450. The computer equipment has no scrap value. Calculate the depreciation for one month. 33. June 30: A review of the payroll records show that unpaid salaries in the amount of $1,473.00 are owed to the employees of Byte for three days, June 28 - 30. 34. June 30: J. Collins, the Internal Auditor, indicated that $2,080.00 of the revenue recorded in June will not be earned until August. 35. June 30: The note payable in transaction #4 and transaction #7 is a five-year note, with interest at the rate of 12 percent annually. Interest expense should be computed based on a 360 day year. [IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was $120,000. On June 10, eight days later, $23,000 was repaid. Interest expense must be calculated on the $120,000 for eight days. In addition, interest expense on the $97,000 balance of the loan ($120,000 less $23,000 = $97,000) must be calculated for the 20 days remaining in the month of June.] 36. June 30: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 37. Close the revenue accounts. 38. Close the expense accounts. 39. Close the income summary account. Transaction Debit Date Name Account Description Credit 01 01 6/1 6/1 54,600.00 1110 Cash 3100 Capital Stock Courtney made investment Courtney made investment 54,600.00 02 02 02 6/1 6/1 6/1 1110 Cash 1311 Computer Equip. 3100 Capital Stock Yuyang Liu made investment Yuyang Liu made investment Yuyang Liu made investment 22,050.00 32,970.00 55,020.00 03 03 03 03 6/1 6/1 6/1 6/1 1211 Office Equip. 1311 Computer Equip. 1110 Cash 3100 Capital Stock Jeremy made investment Jeremy made investment Jeremy made investment Jeremy made investment 798.00 12,600.00 36,750.00 50,148.00 150,000.00 04 04 04 6/2 6/2 6/2 1311 Computer Equip. 2202 Notes Payable 1110 Cash Purchased off. Equip #827364 Purchased off. Equip #827364 Purchased off. Equip #827364 120,000.00 30,000.00 4,200.00 05 05 6/4 6/4 1211 Office Equip 2101 Accounts Payable Purchased off. Equip #AB9865 Purchased off. Equip #AB9865 4,200.00 840.00 06 06 6/4 6/4 2101 Accounts Payable 1211 Office Equip. Return of equip.#AB9865 Return of equip.#AB9865 840.00 07 07 6/10 6/10 2202 Notes Payable 1110 Cash 23,000.00 Payment on Notes Pay. #827364 Payment on Notes Pay. #827364 23,000.00 6,312.00 08 08 6/14 6/14 1130 Prepaid Insurance 1110 Cash Purchased one-year policy. #2387 Purchased one-year policy. #2387 6,312.00 09 09 B 6/16 6/16 1110 Cash Revenue from services performed 4100 Computer & Consultin Revenue from services performed 7,500.00 7,500.00 10 10 10 10 6/16 6/16 6/16 6/16 1510 Land 1411 Building Cost 1110 Cash 2201 Mortgage Payable Purchased Land & Building Purchased Land & Building Purchased Land & Building Purchased Land & Building 120,000.00 23,000.00 14,300.00 128,700.00 3,200.00 11 11 6/17 6/17 1140 Prepaid Rent 1110 Cash Paid for rent June-July Paid for rent June-July 3,200.00 325.00 12 12 6/17 6/17 5030 Advertising Expense Advertising Expense #26354 2101 Accounts Payable Advertising Expense #26354 325.00 13 13 6/21 6/21 2101 Accounts Payable 1110 Cash Paid Accounts Payable Paid Accounts Payable 3,360.000 3,360.00 14 750.00 6/21 6/21 1211 Office Equip. 1110 Cash Purchased Scanning Machine #975 Purchased Scanning Machine #975-328 14 750.00 15 15 4,600.00 6/21 6/21 1120 Accounts Receivable Billed customers for service 4100 Computer & Consultir Billed customers for service 4,600.00 16 16 6/22 6/22 2,455.000 5020 Salary Expense 1110 Cash Paid Salary expense Paid Salary expense 2,455.00 1,265.00 17 17 6/22 6/22 5040 Repairs & Maint. Expe Paid for computer repairs #43254 2101 Accounts Payable Paid for computer repairs #43254 1,265.00 G A 18 18 325.00 6/22 6/22 2101 Accounts Payable 1110 Cash Paid advertising expense #26354 Paid advertising expense #26354 325.00 555.00 19 19 6/23 6/231 1150 Office Supplies 2101 Accounts Payable Purchased office supplies #65498 Purchased office supplies #65498 555.00 3,685.00 20 20 6/23 6/23 1110 Cash Cash received on billings 1120 Accounts Receivable Cash received on billings 3,685.00 5,805.00 21 21 6/28 6/28 1120 Accounts Receivable Billed customers for service 4100 Computer & Consultin Billed customers for service 5,805.000 1,265.00 22 22 6/29 6/29 2101 Accounts Payable 1110 Cash Paid bill for repairs #43254 Paid bill for repairs #43254 1,265.00 23 6/29 6/29 5,500.00 1110 Cash Cash received on billings 1120 Accounts Receivable Cash received on billings 23 5,500.00 2 24 24 6/29 6/29 5020 Salary Expense 1110 Cash 2,455.00 Paid Salary expense to equip. opera Paid Salary expense to equip. operators 2,455.00 25 25 6/30 6/30 5050 Oil & Gas Expense 2101 Accounts Payable Receiven bill for O&G Oil and gas #7 865.00 Receiven bill for O&G Oil and gas #784537 865.00 1,521.60 26 26 6/301 6/30 3300 Dividends 1110 Cash Paid dividends to shareholders Paid dividends to shareholders 1,521.60 G 27 27 B 6/30 6/30 D 5010 Rent Expense 1140 Prepaid Rent E Adjusted for rent expense Adjusted for rent expense F 1,600.00 1,600.00 28 330.00 6/30 6/30 5080 Supplies Expense 1150 Office Supplies 28 adjusted for used office supplies adjusted for used office supplies 330.00 469.22 29 29 6/30 6/30 5090 Interest Expense 2103 Interest Payable accumulated interest on motage not accumulated interest on motage note 469.22 263.00 30 30 6/30 6/30 5100 Insurance Expense 1130 Prepaid Insurance 1/2 month of insurance policy expire 1/2 month of insurance policy expired 263.00 6/30 6/30 5,500.00 1120 Accounts Receivable Billing for services 4100 Computer & Consultin Billing for services 5,500.00 296.97 32 32 6/30 6/30 6/30 6/30 5110 Depreciation Expense depreciation for one month 1212 Accum. Depr.-Office E depreciation for one month 1412 Accum. Depr.-Building depreciation for one month 1312 Accum. Depr.-Comput depreciation for one month 32 32 44.64 42.33 210.00 1,473.00 33 33 6/30 6/30 1120 Accounts Receivable Billing for services 4100 Computer & Consultin Billing for services 1,473.00 6/30 34 34 5020 Salary Expense 2105 Salaries Payable 2,080.00 6/30 recorded unpaid salary expense recorded unpaid salary expense 2,080.00 473.33 35 35 6/30 6/30 5090 Interest Expense 2103 Interest Payable Interest on Note Payable Interest on Note Payable 473.33 473.33 35 35 6/30 6/30 5090 Interest Expense 2103 Interest Payable Interest on Note Payable Interest on Note Payable 473.33 2,700.12 36 36 6/30 6/30 5120 Income Tax Expense Income tax 2106 Income Taxes Payable Income tax 2,700.12 24,878.00 37 37 6/30 6/30 4100 Computer & Consultir Closing the revenue accounts 3400 Income Summary Closing the revenue accounts 24,878.00 16,777.45 38 38 38 38 38 38 38 38 38 38 38 6/30 6/30 6/30 6/30 6/30 6/30 6/30 6/30 6/30 6/30 6/30 3400 Income Summary Closing the expense accounts 5010 Rent Expense Closing the expense accounts 5020 Salary Expense Closing the expense accounts 5030 Advertising Expense Closing the expense accounts 5040 Repairs & Maint. Expe Closing the expense accounts 5050 Oil & Gas Expense Closing the expense accounts 5080 Supplies Expense Closing the expense accounts 5090 Interest Expense Closing the expense accounts 5100 Insurance Expense Closing the expense accounts 5110 Depreciation Expense Closing the expense accounts 5120 Income Tax Expense Closing the expense accounts 1,066.67 6,990.00 325.00 1,265.00 865.00 330.00 547.00 263.00 2,425.66 2,700.12 8,100.55 39 39 6/30 6/30 3400 Income Summary 3200 Retained Earnings Closing the income summary accou Closing the income summary accounts 8,100.55 40 40 6/30 6/30 3200 Retained Earnings 3300 Dividends 1,521.60 Closing the dividends accounts Closing the dividends accounts 1,521.60 A Byte of Accounting, Inc. Worksheet For Period Ending A30, 2020 Adjusting Entries Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Unadjusted Trial Balance Debit Credit 41,141.40 1,220.00 6,312.00 3,200.00 555.00 4,908.00 6,973.00 263.00 1.800.00 330.00 Adjusted Trial Balance Debit Credit 41,141.40 8,193.00 6,049.00 1.800.00 225.00 4,908.00 44.64 195,570.00 210.00 23,000.00 42.33 120,000.00 1,420.00 44.64 195,570.00 210.00 Account Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr.-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2108 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock 3200 Retained Earnings 3300 Dividends 23,000.00 42.33 120,000.00 1,420.00 942.55 2.080.00 2,700.12 942.55 2,080.00 2.700.12 128,700.00 97,000.00 159,768.00 128,700.00 97,000.00 159.768.00 1,521.60 1,521.80 17,905.00 6,973.00 24,878.00 1,800.00 2.080.00 4100 Computer & Consulting Revenu 5010 Rent Expense 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint. Expense 5050 Oil & Gas Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Income Tax Expense 4,910.00 325.00 1,285.00 885.00 330.00 942.55 283.00 298.97 2,700.12 1.800.00 6,990.00 325.00 1,285.00 885.00 330.00 942.55 283.00 298.97 2,700.12 TOTAL NET INCOME 404,793.00 404,793.00 15,185.84 15,185.64 417,785.64 417,785.84