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please help with the Transactions and the work sheet Ali Sableh ransaction Description of transaction 01. June 1: Hudson Bloom invested $173,656.00 cash and computer
please help with the Transactions and the work sheet
Ali Sableh ransaction Description of transaction 01. June 1: Hudson Bloom invested $173,656.00 cash and computer equipment with a fair market value of $41,440.00 in his new business, Byte of Accounting. 02. June 1: Check # 5000 was used to purchased computer equipment costing $11,760.00 from Ali Sableh. The invoice number was 20117. 03 June 1: Check # 5001 was used to purchased office equipment costing $896.00 from Office Express. The invoice number was 87417. 04. June 2: Check # 5002 was used to make a down payment of $32,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $160,000.00. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $500.00 was purchased on credit from Discount Computer Corporation. The invoice number was 98432. 06. June 8: Unsatisfactory office equipment costing $100.00 from invoice number 98432 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 07 June 10: Check # 5003 was used to make a $24,500.00 payment reducing the principal owed on the June 2 purchase of computer equipment from Royce Computers. 08. June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for $5,304.00 from 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 56,250.00 was received for services performed for Pitman Pictures. 10. June 16: Byte purchased a building and the land it is on for $95,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $15,000.00. The balance of the cost is to be allocated to the building. Check #5005 was used to make the down payment of $9,500.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. Whirme Instructions FAO Chart 22 B 10. June 16: Byte purchased a building and the land it is on for $95,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $15,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $9,500.00 A thirty year mortgage with an inital payement due on August 1st, was established for the balance. 24 11. June 17: Check # 5006 for $9,600.00 was paid for rent of the office space for June July August and September. 25 26 12 27 June 17: Received invoice number 26354 in the amount of $375.00 from the local newspaper for advertising 28 29 13 June 21: Accounts payable in the amount of $400.00 were paid with Check # 5007. 30 w 14. 31 32 June 21: Check # 5008 was used to purchase a fax machine for the office from Office Machines Express for S775.00. The invoice number was 975-328. 15 June 21: Billed various miscellaneous local customers $4,200.00 for consulting services performed. 33 34 16. 35 36 June 22: Check # 5009 was used to pay salaries of $985.00 to equipment operators for the week ending June 18. Ignore payroll taxes. 17. June 22: Received a bill for S1,115.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 37 38 39 40 18 June 22: Check #5010 was used to pay the advertising bill that was received on June 17. 19. June 23: Purchased office supplies for $630.00 from Staples on account. The invoice number was 65498. 41 42 43 44 20. June 23: Cash in the amount of $3,365,00 was received on billings. : 45 21 June 28: Billed 55,700.00 to miscellaneous customers for services performed to June 25. 22 47 June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co with Check #5011. Step by Step Solution
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