PLEASE HELP: Cyber text byte accouting journal. I cant figure out numbers 32-39 on the General Journal. I posted the whole thing as many questions have you look back at previous entries

Page Layout Formulas Data Review View Tell me Arial 10 V a. Av 29 Wrap Text BIU. lil !! Merge & vfs B 01. June 1: Byte of Accounting, Inc. acquired $45,000 in cash from Lauryn and issued 1,800 shares of its common stock 02. June 1: Byte of Accounting, Inc. issued 2,570 shares of its common stock to cash and computer equipment with a fair market value of $37,500 were received. after $26,750 in 03. June 1: Byte of Accounting, Inc. issued 2,299 shares of its common stock after acquiring from Courtney $43,750 in cash, computer equipment with a fair market value of $13,000 and office equipment with a fair value of $725. 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 $300 was purchased on credit from Discount Computer Corporation. 06. June 8: Unsatisfactory office equipment costing S60 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 was purchased by Byte for $6,144 in cash. The effective date of the policy was June 16. 09. June 16: A check in the amount of $7,000 was received for consulting revenue. 10. June 16: Byte purchased a building and the land it is on for $95,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $15,000. The balance of the cost is to be allocated to the building. Byle made a cash down payment of $9,500 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1. Transactions Incom Chart of Accounts General Journal Worksheet LD wrap out BIU Merge & Con 11. June 17: Cash of $4,600 was paid for rent for June and July. Put the total amount into the Prepaid Rent account. 12. June 17: Received a bill of $400 from the local newspaper for advertising, 13. June 21: Accounts payable in the amount of $240 were paid 14. June 21: A fax machine for the office was purchased for $675 cash. 15. June 21: Billed various miscellaneous local customers 54,700 for consulting services performed. 16. June 22: Paid salaries of $1,035 to equipment operators for the week ending June 18. 17. June 22: Received a bill for $1,315 from Computer Parts and Repair Co. for repairs to the computer equipment 18. June 22: Paid the advertising bill that was received on June 17 19. June 23: Purchased office supplies for $605 on credit. Record the purchase as an increase the assets 20. June 23: Cash in the amount of $3,765 was received on billings. 21. June 28: Billed $5,490 to miscellaneous customers for services performed to June 25. 22. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co. 23. June 29: Cash in the amount of $5,201 was received for billings 24. June 29: Paid salaries of S1,035 to equipment operators for the week ending June 25 25. June 30: Received a bill for the amount of $1,015 from O & Oil and Gas Co. Worksheet Income Chart of Accounts A Transactions General Journal Ready 599 16 Wrap Text a. Av Merge & Co x fx B 26. June 30: Paid a cash dividend of $0.17 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.) Adjusting Entries - Round to two decimal places. 27. The rent payment made on June 17 was for June and July. Expense the amount associated with one month's rent 28. A physical inventory showed that only $247.00 worth of office supplies remained on hand as of June 30, 29. The annual interest rate on the mortgage payable was 7.50 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 $8,750 for the period of June 28-30 32. The fixed assets have estimated useful lives as follows: 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 $500. The office equipment has a scrap value of $400. The computer equipment has no scrap value. Calculate the depreciation for one month. 33. A review of the payroll records show that unpaid salaries in the amount of 5621.00 are owed by Byte for three days, June 28 - 30. Worksheet Incoma General Journal Chart of Accounts Transactions rady 16 LE Wrap Tour Paste Mergn & 82 x fx B 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. 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 $144,000 On June 10, eight days later, $27,500 was repaid. Interest expense must be calculated on the $144,000 for eight days. In addition, interest expense on the S116,500 balance of the loan ($144,000 less $27,500 = 5116,500) must be calculated for the 20 days remaining in the month of June.) 35. Income taxes are to be computed at the rate of 25 percent of not 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 Tex line. The worksheet contains all of the accounts and their balances which you can then transfer to the appropriate financial statement) 2 3 14 Closing Entries 35 36 36. Close the revenue accounts. B7 BB 37. Close the expense accounts. 89 90 38. Close the income summary account 91 39. Close the dividends account. 92 93 94 95 30 97 90 100 101 102 103 104 Income Worksheet General Journal Chart of Accounts Transactions Ready 16 . c D E A Byte of Accounting, Inc. General Journal Note: You can only enter data into the yellow filled colla. Transaction Date Account Name Description Debit Credit 01 01 Jun 01 Jun 01 1110 Cash 3100 Capital Stock common stock issued common stock issued 45,000.00 45,000.00 02 02 02 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip. 3100 Capital Stock common stock issued to common stock issued to common stock issued to 26,750.00 37,500.00 64.250.00 0 1 2 3 14 15 16 17 18 19 03 03 03 03 Jun 01 Jun 01 Jun 01 Jun 01 1110 Cash 1311 Computer Equip, 1211 Office Equip 3100 Capital Stock 1311 Computer Equip. 1110 Cash 2202 Notes Payable common stock issued common stock issued common stock issued common stock issued 43,750.00 13,000.00 725.00 57.475.00 04 04 04 Jun 02 Jun 02 Jun 02 computer bought inncash and notes 180,000.00 computer bought Inncash and notes payable computer bought inncash and notes payablo 36.000.00 144,000.00 21 22 23 24 25 26 27 28 29 30 31 300.00 05 05 Jun 04 Jun 04 1211 Office Equip. 2101 Accounts Payable equipment bought on credit equipment bought on credit 300.00 60.00 06 06 Jun 08 Jun 08 2202 Notes Payable 1211 Office Equip unsatisfactory office equipment unsatisfactory office equipment 80.00 07 07 Jun 10 Jun 10 2202 Notes Payable 1110 Cash Byto paid the balance it owed on JU 27,500.00 byte paid the balance it owed on June 2 purchased 2730000 37 38 39 08 08 Jun 14 Jun 14 11130 Prepaid Insurance 1110 Cash a one year Insurance polisy covering a one year insurance policy covering computer 41 42 43 44 45 45 47 46 700000 700000 09 09 Jun 16 Jun 16 1110 Cash cash received for conting reven 2100 Computer Conan cash received for consulting revenue Workshed General Journal Transactions Chart of Accounts Ready 16 B D E A Byte of Accounting, Inc. General Journal Note: You can only enter data into the yellow filled cells Transaction. Date Account Name Description Debit Credit 10 10 10 10 Jun 16 Jun 16 Jun 16 Jun 16 1510 Land 1411 Building Cost 1110 Cash 2201 Mortgage Payable Land and building purchased land and building purchased Land and building purchased Land and building purchased 15,000.00 95,000.00 9,500.00 100.500.00 11 11 Jun 17 Jun 17 1140 Prepaid Rent 1110 Cash paid prepaid rent paid prepaid rent 4,600.00 4,500.00 12 12 Jun 17 Jun 17 5030 Advertising Expenso received a bill for advertising 2101 Accounts Payable received a bill for advertising 400.00 400.00 13 13 Jun 21 Jun 21 2101 Accounts Payable 1110 Cash accounts payable paid accounts payable paid 240.00 240.00 14 14 Jun 21 Jun 21 1211 Office Equip 1110 Cash Tax machine purchased fax machine purchased 675.00 675.00 5 7 15 15 Jun 21 Jun 21 1120 Accounts Receivable billed customers for consulting servi 4100 Computer & Consulting billed customers for consulting Services 4.700.00 4.700.00 16 16 1.005.00 Jun 221 Jun 22 5020 Salary Expense 1110 Cash paid salaries to equipment Operators paid salaries to equipment operators 1.005.00 U 1 2 3 4 15 36 17 38 17 17 Jun 22 Jun 22 5040 Repairs & Maint. Experceived a bill for computer equipme 1315.00 2101 Accounts Payable received a bill for computeruipment repair 131500 ao 200,00 18 18 Jun 22 Jun 22 2101 Accounts Payable 1110 Cash paid the advertising bill received on paid the advertising loved one 92 93 400700 Transactions Chart of Accounts Workshoc General Journal Ready 16 D E A Byte of Accounting, Inc. General Journal Note: You can only enter data into the yellow filled celle Transaction Date Account Name Description 5 Debit Credit 19 19 Jun 23 Jun 23 1150 Office Supplies 2101 Accounts Payable purchased office supplies on credit purchased office supplies on credit 605.00 606 20 20 Jun 23 Jun 23 1110 Cash cash received from customers 1120 Accounts Receivable cash received from customers 3,765.00 3,765.C 21 21 Jun 28 Jun 28 1120 Accounts Receivable billed customers for consulting servi 5,490.00 4100) Computer & Consulting Billed customers for consulting services performed 5.490.0 7 8 9 00 31 02 03 04 05 06 07 108 109 310 111 112 113 114 115 116 117 118 119 120 121 122 123 124 22 22 Jun 29 Jun 29 2101 Accounts Payable 1110 Cash paid bil paid bil 1.315.00 1.316.00 5.201.00 23 23 Jun 29 Jun 29 1110 Cash cash received from customers 1120 Accounts Receivable cash received from customers 5.201.00 1,035.00) 24 24 Jun 29 Jun 29 5020 Salary Expense 1110 Cash paid salaries to equipment operators paid salaries to equipment operators 1,035.00 125 25 25 Jun 30 Jun 30 5050 Oil & Gas Expense 2101 Accounts Payable received a bill from O&G Oil and Gas 1,015.00 received a bill from O&G ON and Gas Co. 101.00 126 127 128 129 130 131 132 133 26 26 Jun 30 Jun 30 3300 Dividends 1110 Cash paid a dividend of $0.17 por share paid a dividend of $0.127 per share 1.16433 134 2.300.00 135 136 137 27 27 Jun 30 Jun 30 5010 Rent Expense 140 Prepaid Rent One month rent expressed One months and expressed 139 Works Chart of Accounts Transactions General Journal Ready S80 16 A B D E A Byte of Accounting, Inc. General Journal Notes You can only one data into the yellow filled cells G Transaction. Date Account Name Description Debit 28 28 Credit Jun 30 Jun 30 5080 Supplies Expense 1150 Office Supplies supplies expensed supplies expensed 358.00 358.00 29 29 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable Interest expense for one-half month 314.10 interest expense for one-half month on mortgage 314.10 30 30 Jun 30 Jun 30 5100 Insurance Expense 1130 Prepaid Insurance prepaid Insurance account charged prepaid insurance account charged 256.00 256.00 31 31 Jun 30 Jun 30 1120 Accounts Receivable unbilled revenue recorded 4100 Computer & Consulting unbilled revenue recorded 8,750.00 8.750.00 3,899.56 32 32 32 32 Jun 30 Jun 30 Jun 30 Jun 30 5110 Depreciation Expense depreciation for one month 1412 Accum. Depr.-Building depreciation for one month 1312 Accum. Depr.-Computl depreciation for one month 1212 Accum. Depr.-Office Edepreciation for one month 38.36 3.841.67 19.52 Jun 30 Jun 30 5020 Salary Expense 2103 Interest Payable unpaid salary unpaid salary 621.00 621.00) 34 34 Jun 30 Jun 30 5090 Interest Expense 2103 Interest Payable Interest on notes payablo interest on notes payable 35 35 Jun 30 Jun 30 5120 Income Tax Expense Income taxes computed 2108) Income Taxos Payabr Income taxes computed 36 Jun 30 Jun 30 2100 Computer & Consultin closing revenue account 3400 Income Summary Closing revenue account Chart of Accounts Transactions General Journal Workshoot Ready 589 16 11 F171 x v D E B c A Byte of Accounting, Inc. General Journal Note: You can only enter data into the yellow filed celle Transaction. Date Account Name Description Debit Credit 37 37 37 37 37 37 37 37 37 37 37 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 Jun 30 - Jun 30 Jun 30 Jun 30 Jun 30 3400 Income Summary closing expense accounts 5020 Salary Expense closing expense accounts 5030 Advertising Expense closing expense accounts 5040 Repairs & Maint. Expe closing expense accounts 5010 Rent Expense closing expense accounts 5110 Depreciation Expense closing expense accounts 5090 Interest Expense closing expense accounts 5080 Supplies Expense closing expense accounts 5050 Oil & Gas Expense closing expense accounts 5120 Income Tax Expense closing expenso accounts 5100 Insurance Expense closing expense accounts 38 38 Jun 30 Jun 30 3400 Income Summary 3200 Retained Earnings closing Income summary account closing income summary account 4 S 5 7 8 9 0 -1 2 3 4 35 26 27 88 39 20 01 02 03 04 05 06 07 oa 00 10 11 12 18 214 215 216 217 218 39 39 Jun 30 Jun 30 3200 Retained Earnings 3300 Dividends closing the dividends account closing the dividends account 219 220 221 223 224 225 Worksheet General Journal Transactions Chart of Accounts Ready 500 16