review transaction and post in general journal and work sheet (see last two)

\begin{tabular}{l|l|l|} \hline 91 & June30:Areviewofthepayrollrecordsshowthatunpaidsalariesintheamountof$1,578.00owedtotheemployeesofByteforthreedays,June2830. \\ \hline 92 & June 30: J. Collins, the Internal Auditor, indicated that $1,960.00 of the revenue recorded in June \\ will not be earned until August. \end{tabular} A Byte of Accounting, Inc. General Journal Note: You can only enter dats into the yellow filled cells: Significant Accounting Policies: The business has adopted the following accounting policies: 11 Fixed assets that cost less than $500.00 are expensed. - The allowance method is used to account for bad debts. - When calculating depreciation, assets purchased during a month are treated as if purchased on the first day of the month. 17 18 Transaction Description of transaction 19 20 01. June 1: Courtney, an investor, made an investment in Byte by purchasing 2,600 shares of its 21 common stock paying $67,600.00 in cash. June 1: Jeremy, an investor, made an investment in Byte by purchasing 1,851 shares of its common 02. stock paying $32,500.00 in cash, and contributing to Byte computer equipment with a fair market value of $14,560 and office equipment with a fair value of $1,066. 2322 June 1: Riley McDaniel, an investor, made an investment in Byte by purchasing 2,570 shares of its 03. 24 common stock paying $26,780.00 in cash, and contributing to Byte copgputer equipment with a fair market value of $40,040. \begin{tabular}{|l|l|l|} \hline 5010 & Rent Expense & Debit \\ \hline 5020 & Salary Expense & Debit \\ \hline 5030 & Advertising Expense & Debit \\ \hline 5040 & Repairs \& Maint. Expense & Debit \\ \hline 5050 & Oil \& Gas Expense & Debit \\ \hline 5080 & Supplies Expense & Debit \\ \hline 5090 & Interest Expense & Debit \\ \hline 5100 & Insurance Expense & Debit \\ \hline 5110 & Depreciation Expense & Debit \\ \hline 5120 & Income Tax Expense & Debit \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline 55 & 18. & June 22: Cash in the amount of $3,605 was received on billings. \\ \hline & & \\ \hline 57 & 19. & June23:Purchasedofficesuppliesfor$530.00fromOfficeMaxouaccount.Theinvoiceuumberwas65498. \\ \hline & & \\ \hline 59 & 20. & June23:Receivedabillfor$1,115.00fromComputerPartsandRepairCo.forrepairstothecomputerequipmeut.Theinvoiceuumberwas43254. \\ \hline 60 & & \\ \hline 61 & 21. & June 28 : Billed various miscellaneous local customers $6,225 for consulting services performed. \\ \hline 62 & & \\ \hline 63 & 22. & June29:Receivedabillfortheamountof$1,015,00fromO&&OilandGasCo.Theinvoicenumberwas784537. \\ \hline 64 & & \\ \hline 65 & 23. & Juse 29: Byte received $5,899.00 from customers billed when work was completed. \\ \hline 66 & & \\ \hline 67 & 24 & Jane29:CheckIf6010wasusedtopaysulariesof$2,630,00toequipmentoperatorsfortheweekendingJune25.Igaorepayrolltaxes. \\ \hline 68 & & \$ \\ \hline 69 & 25. & June30:Cheek#6011wasusedtopayinvoicenumber43254,thecomputerrepairbillthatwaspreviouslyreceivedfromComputerPartsandRepairCo. \\ \hline 70 & & \\ \hline 71 & 26. & Jane30:Paidacashdividendof50.24persharetothethreeshareholdersofByte,usingCheckth60126014.[MPORTANTNOTE:Thenamberofsharesofcapitalstockoutstandingcanbedeterminedfromthefirstthreetransactions.) \\ \hline \end{tabular} A Byte of Accounting, Inc. Worksheet For Period Ending June 1, 2023 June 16: Byte purchased a building and the land it is on for $125,000.00 to house its repair facilities 38 10. and to store computer equipment. The lot on which the building is located is valued at $20,000.00. The balance of the cost is to be allocated to the building. Check \# 6004 was used to make the down payment of $12,500.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. 11. June 17: Billed various miscellaneous local customers $4,500 for consulting services performed. 42 43 12. June 17: Byte received invoice number 26354 in the amount of $375.00 from Fida Marketing Ageucy for advertising. 44 45 June 21: Check \# 6005 for $7,200,00 was prepaid for rent of the office space for June, July, 13. Angust and September. Put the total amount into the Prepaid Rent account. 14. June 21: Accounts payable in the amount of $3,520.00 were paid with Check \# 6006 . 15. June 21: Check \# 6007 was used to pay invoice number 26354 , the advertising bill that was previously received from Fida Digital Marketing higency. 5049 16. June 22: Check 1/6008 was used to pay salaries of $2,630.00 to equipment operators for the week 51 ending June 18. Iguore payroll taxes. 52 53 17 June 22: Check / 6009 was used to purchase a scanaing machine for the office from Sicre's Office Machiaes Express for $775,00. The invoice number was 975-328. June 2: Check \# 6001 for $33,000 was issued as a down payment for new computer equipment that 04. cost $165,000 on invoice $27364 from Dell. A five-year note was executed by Byte for the balance. June 4: Check \# 6002 was issued to purchase a one-year insurance policy covering its computer 05. equipment. The cost of the insurance is $4,968.00 and paid to Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. 2928 June 8: Additional office equipment costing $4,400 was purchased on credit from Perez's Disconnt 30 06. Computer Corporation, invoice number AB9865. 31 32 07. June 8: Defective office equipment costing \$880 was returned to Perez's Discount Computer for credit to be applied against the outstanding balance owed by Byte. 33 08. June 14: Check \# 6003 was issued for $25,250 as a partial payment on the balance owed to Dell 34 related to the purchase of computer equipment, invoice 827364 . 35 June 16: A check in the amount of $6,250 was received for services performed for Pituan 36 Pictures. 73 Adjusting Entries - Round to two decimal places = ROUND(number,umm digits). 74 Juse 30: The annual interest rate on the mortgage payable was 8.00 percent. Interest expense 27. for one-half month should be computed because the building and land were purchased and the 75 liability incurred ou Jane 16. 78 \begin{tabular}{|c|c|c|} \hline 77 & 28. & June30:AreviewofBytesjobworksheetsshowthatthereareunbilledrevenuesintheamountof$5,375fortheperiodofJune2830. \\ \hline 78 & & \\ \hline 79 & 29. & June30:Aplyysicalinventoryshowedthatouly$214.00worthofofficesuppliesremainedonhandasofJuue30. \\ \hline 80 & & \\ \hline 81 & 30. & June30:Therentpaymentmadeintrasaction#13wasforJune,July,AugustandSeptember.Expensetheamountassociatedwithonemonthsrent. \\ \hline 82 & & \\ \hline 83 & 31. & \\ \hline 84 & & 4. \\ \hline 85 & \multirow{4}{*}{32.} & June 30: The accountant bas calculated the following depreciation expenses for the mouth: \\ \hline 83 & & Buildiag - $259.26 \\ \hline 87 & & Computer Equipasest - \$3,660,00 \\ \hline 88 & & Orfice Equipment - $60.25 \\ \hline \end{tabular} \begin{tabular}{l|l|l|} \hline 91 & June30:Areviewofthepayrollrecordsshowthatunpaidsalariesintheamountof$1,578.00owedtotheemployeesofByteforthreedays,June2830. \\ \hline 92 & June 30: J. Collins, the Internal Auditor, indicated that $1,960.00 of the revenue recorded in June \\ will not be earned until August. \end{tabular} A Byte of Accounting, Inc. General Journal Note: You can only enter dats into the yellow filled cells: Significant Accounting Policies: The business has adopted the following accounting policies: 11 Fixed assets that cost less than $500.00 are expensed. - The allowance method is used to account for bad debts. - When calculating depreciation, assets purchased during a month are treated as if purchased on the first day of the month. 17 18 Transaction Description of transaction 19 20 01. June 1: Courtney, an investor, made an investment in Byte by purchasing 2,600 shares of its 21 common stock paying $67,600.00 in cash. June 1: Jeremy, an investor, made an investment in Byte by purchasing 1,851 shares of its common 02. stock paying $32,500.00 in cash, and contributing to Byte computer equipment with a fair market value of $14,560 and office equipment with a fair value of $1,066. 2322 June 1: Riley McDaniel, an investor, made an investment in Byte by purchasing 2,570 shares of its 03. 24 common stock paying $26,780.00 in cash, and contributing to Byte copgputer equipment with a fair market value of $40,040. \begin{tabular}{|l|l|l|} \hline 5010 & Rent Expense & Debit \\ \hline 5020 & Salary Expense & Debit \\ \hline 5030 & Advertising Expense & Debit \\ \hline 5040 & Repairs \& Maint. Expense & Debit \\ \hline 5050 & Oil \& Gas Expense & Debit \\ \hline 5080 & Supplies Expense & Debit \\ \hline 5090 & Interest Expense & Debit \\ \hline 5100 & Insurance Expense & Debit \\ \hline 5110 & Depreciation Expense & Debit \\ \hline 5120 & Income Tax Expense & Debit \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline 55 & 18. & June 22: Cash in the amount of $3,605 was received on billings. \\ \hline & & \\ \hline 57 & 19. & June23:Purchasedofficesuppliesfor$530.00fromOfficeMaxouaccount.Theinvoiceuumberwas65498. \\ \hline & & \\ \hline 59 & 20. & June23:Receivedabillfor$1,115.00fromComputerPartsandRepairCo.forrepairstothecomputerequipmeut.Theinvoiceuumberwas43254. \\ \hline 60 & & \\ \hline 61 & 21. & June 28 : Billed various miscellaneous local customers $6,225 for consulting services performed. \\ \hline 62 & & \\ \hline 63 & 22. & June29:Receivedabillfortheamountof$1,015,00fromO&&OilandGasCo.Theinvoicenumberwas784537. \\ \hline 64 & & \\ \hline 65 & 23. & Juse 29: Byte received $5,899.00 from customers billed when work was completed. \\ \hline 66 & & \\ \hline 67 & 24 & Jane29:CheckIf6010wasusedtopaysulariesof$2,630,00toequipmentoperatorsfortheweekendingJune25.Igaorepayrolltaxes. \\ \hline 68 & & \$ \\ \hline 69 & 25. & June30:Cheek#6011wasusedtopayinvoicenumber43254,thecomputerrepairbillthatwaspreviouslyreceivedfromComputerPartsandRepairCo. \\ \hline 70 & & \\ \hline 71 & 26. & Jane30:Paidacashdividendof50.24persharetothethreeshareholdersofByte,usingCheckth60126014.[MPORTANTNOTE:Thenamberofsharesofcapitalstockoutstandingcanbedeterminedfromthefirstthreetransactions.) \\ \hline \end{tabular} A Byte of Accounting, Inc. Worksheet For Period Ending June 1, 2023 June 16: Byte purchased a building and the land it is on for $125,000.00 to house its repair facilities 38 10. and to store computer equipment. The lot on which the building is located is valued at $20,000.00. The balance of the cost is to be allocated to the building. Check \# 6004 was used to make the down payment of $12,500.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. 11. June 17: Billed various miscellaneous local customers $4,500 for consulting services performed. 42 43 12. June 17: Byte received invoice number 26354 in the amount of $375.00 from Fida Marketing Ageucy for advertising. 44 45 June 21: Check \# 6005 for $7,200,00 was prepaid for rent of the office space for June, July, 13. Angust and September. Put the total amount into the Prepaid Rent account. 14. June 21: Accounts payable in the amount of $3,520.00 were paid with Check \# 6006 . 15. June 21: Check \# 6007 was used to pay invoice number 26354 , the advertising bill that was previously received from Fida Digital Marketing higency. 5049 16. June 22: Check 1/6008 was used to pay salaries of $2,630.00 to equipment operators for the week 51 ending June 18. Iguore payroll taxes. 52 53 17 June 22: Check / 6009 was used to purchase a scanaing machine for the office from Sicre's Office Machiaes Express for $775,00. The invoice number was 975-328. June 2: Check \# 6001 for $33,000 was issued as a down payment for new computer equipment that 04. cost $165,000 on invoice $27364 from Dell. A five-year note was executed by Byte for the balance. June 4: Check \# 6002 was issued to purchase a one-year insurance policy covering its computer 05. equipment. The cost of the insurance is $4,968.00 and paid to Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. 2928 June 8: Additional office equipment costing $4,400 was purchased on credit from Perez's Disconnt 30 06. Computer Corporation, invoice number AB9865. 31 32 07. June 8: Defective office equipment costing \$880 was returned to Perez's Discount Computer for credit to be applied against the outstanding balance owed by Byte. 33 08. June 14: Check \# 6003 was issued for $25,250 as a partial payment on the balance owed to Dell 34 related to the purchase of computer equipment, invoice 827364 . 35 June 16: A check in the amount of $6,250 was received for services performed for Pituan 36 Pictures. 73 Adjusting Entries - Round to two decimal places = ROUND(number,umm digits). 74 Juse 30: The annual interest rate on the mortgage payable was 8.00 percent. Interest expense 27. for one-half month should be computed because the building and land were purchased and the 75 liability incurred ou Jane 16. 78 \begin{tabular}{|c|c|c|} \hline 77 & 28. & June30:AreviewofBytesjobworksheetsshowthatthereareunbilledrevenuesintheamountof$5,375fortheperiodofJune2830. \\ \hline 78 & & \\ \hline 79 & 29. & June30:Aplyysicalinventoryshowedthatouly$214.00worthofofficesuppliesremainedonhandasofJuue30. \\ \hline 80 & & \\ \hline 81 & 30. & June30:Therentpaymentmadeintrasaction#13wasforJune,July,AugustandSeptember.Expensetheamountassociatedwithonemonthsrent. \\ \hline 82 & & \\ \hline 83 & 31. & \\ \hline 84 & & 4. \\ \hline 85 & \multirow{4}{*}{32.} & June 30: The accountant bas calculated the following depreciation expenses for the mouth: \\ \hline 83 & & Buildiag - $259.26 \\ \hline 87 & & Computer Equipasest - \$3,660,00 \\ \hline 88 & & Orfice Equipment - $60.25 \\ \hline \end{tabular}