Third time posting this I really need help understanding 27-38
Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you h (x) Otfice Update To keep up-to-date with security updates, foxes, and improvements, choose Check for Update Weloome Chart of Accounts Transactions General Journal Worksheet Peady Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you Office Update To keep up-Io-date with security updates, fixes, and improvements, choose Check for Updat 12. Juae 17: Recelved involce namber 26354 in the amonat of \$325.00 from the local newspaper for advertising. 12. June 21: Accounts payable in the amount of 5400.00 were paid with Check \# 5007. 14. June 21: Check \# 5008 was used to purchase a fax machine for the office from Orfice Machines Express for 5850.00. The involoe number was 975-328. 15. June 21: Billed varlous miscellaneous local customers 54,900.00 for consulting services performed. 16. June 22: Check \# 5009 was used to pay salaries of 51,010.00 to equipment operators for the week ending Jane 18. Ienore payroll taxes. 17. 18: 15. 20. June 22: Recelved a bill for $1,140.00 from Cemputer Parts and Repair Co. for repairs to the computer equipmeat. The invoice number was 43254 . Sune 22: Cbeck 5010 was used to pay the advertising bill that was recelved on June 17 . The fixed assets have estimated useful lives as follows: Builing - 31.5 years Computer Bquipment - 5.0 years 32. Oifice Equipment - 7.0 years Use the straight-line method of depreciation. Management has decided that assets purehased during a month are treated as if purchased on the first day of the month. The building's scrap value is $500.00. The office equipment has a scrap value of $500.00. The computer equipment has no scrap value. C alculate the deprechation for one month. 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 $128.000.00. On June 10. eight davs later. $24.500.00 was revaid. Interest expense must be calculated on the $128,000.00 for eight days. In addition, interest expense on the $103,500.00 balance of the loan ($128,000.00 less $24,500.00=$103,500.00) must be calculated for the 20 days remaining in the month of June.] Closing Entries 35. 36.0 . 37. Close the revenue accounts. Close the expense accounts. Close the income summary account. 38. Close the withdrawals account. A Byte of Accounting General Journal Note: You can only enter data info the yellow filled cells. A Byte of Accounting General Joumal Note: You can only enter data into the yellow filled cells. Note: You can only enter data into the yallow flled cells. A Byte of Accounting General Joumal Note: You can only enter data into the yellow filed cells. Open recovered workbooks? Your recent changes were stived. Do you want to continue working where you 8 Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Update Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you h (x) Otfice Update To keep up-to-date with security updates, foxes, and improvements, choose Check for Update Weloome Chart of Accounts Transactions General Journal Worksheet Peady Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you Office Update To keep up-Io-date with security updates, fixes, and improvements, choose Check for Updat 12. Juae 17: Recelved involce namber 26354 in the amonat of \$325.00 from the local newspaper for advertising. 12. June 21: Accounts payable in the amount of 5400.00 were paid with Check \# 5007. 14. June 21: Check \# 5008 was used to purchase a fax machine for the office from Orfice Machines Express for 5850.00. The involoe number was 975-328. 15. June 21: Billed varlous miscellaneous local customers 54,900.00 for consulting services performed. 16. June 22: Check \# 5009 was used to pay salaries of 51,010.00 to equipment operators for the week ending Jane 18. Ienore payroll taxes. 17. 18: 15. 20. June 22: Recelved a bill for $1,140.00 from Cemputer Parts and Repair Co. for repairs to the computer equipmeat. The invoice number was 43254 . Sune 22: Cbeck 5010 was used to pay the advertising bill that was recelved on June 17 . The fixed assets have estimated useful lives as follows: Builing - 31.5 years Computer Bquipment - 5.0 years 32. Oifice Equipment - 7.0 years Use the straight-line method of depreciation. Management has decided that assets purehased during a month are treated as if purchased on the first day of the month. The building's scrap value is $500.00. The office equipment has a scrap value of $500.00. The computer equipment has no scrap value. C alculate the deprechation for one month. 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 $128.000.00. On June 10. eight davs later. $24.500.00 was revaid. Interest expense must be calculated on the $128,000.00 for eight days. In addition, interest expense on the $103,500.00 balance of the loan ($128,000.00 less $24,500.00=$103,500.00) must be calculated for the 20 days remaining in the month of June.] Closing Entries 35. 36.0 . 37. Close the revenue accounts. Close the expense accounts. Close the income summary account. 38. Close the withdrawals account. A Byte of Accounting General Journal Note: You can only enter data info the yellow filled cells. A Byte of Accounting General Joumal Note: You can only enter data into the yellow filled cells. Note: You can only enter data into the yallow flled cells. A Byte of Accounting General Joumal Note: You can only enter data into the yellow filed cells. Open recovered workbooks? Your recent changes were stived. Do you want to continue working where you 8 Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Update
