In the books of Byte of Accounting :
Transaction / Event | Date | Account Titles | Debit | Credit |
$ | $ | |||
01. | June 1 | Cash | 22,660 | |
Computer Equipment | 34,320 | |||
Common Stock | 56,980 | |||
02. | June 1 | Cash | 38,500 | |
Computer Equipment | 12,760 | |||
Office Equipment | 902 | |||
Common Stock | 52,162 | |||
03. | June 1 | Cash | 52,800 | |
Common Stock | 52,800 | |||
04. | June 2 | Computer Equipment | 145,000 | |
Cash | 29,000 | |||
Note Payable | 116,000 | |||
05. | June 4 | Office Equipment | 700 | |
Accounts Payable | 700 | |||
06. | June 8 | Accounts Payable | 140 | |
Office Equipment | 140 | |||
07. | June 10 | Note Payable | 22,250 | |
Cash | 22,250 | |||
08. | June 14 | Prepaid Insurance | 5,976 | |
Cash | 5,976 | |||
09 | June 16 | Cash | 8,000 | |
Consultation Revenue | 8,000 | |||
10. | June 16 | Land | 16,000 | |
Building | 85,000 | |||
Cash | 10,100 | |||
Mortgage Payable | 90,900 | |||
11. | June 17 | Prepaid Rent | 6,400 | |
Cash | 6,400 | |||
12. | June 17 | Advertising Expense | 300 | |
Accounts Payable | 300 | |||
13. | June 21 | Accounts Receivable | 4,700 | |
Consultation Revenue | 4,700 | |||
14. | June 21 | Office Equipment | 750 | |
Cash | 750 | |||
15. | June 21 | Accounts Payable | 560 | |
Cash | 560 | |||
16. | June 22 | Accounts Payable | 300 | |
Cash | 300 | |||
17. | June 22 | Repairs Expense | 1,090 | |
Accounts Payable | 1,090 | |||
18. | June 22 | Salaries Expense | 885 | |
Cash | 885 | |||
19. | June 23 | Cash | 3,765 | |
Accounts Receivable | 3,765 | |||
20. | June 23 | Office Supplies | 630 | |
Accounts Payable | 630 | |||
21. | June 28 | Accounts Receivable | 5,805 | |
Consultation Revenue | 5,805 | |||
22. | June 29 | Cash | 5,500 | |
Accounts Receivable | 5,500 | |||
23. | June 29 | Accounts Payable | 1,090 | |
Cash | 1,090 | |||
24. | June 29 | Salaries Expense | 885 | |
Cash | 885 | |||
25. | June 30 | Utilities Expense | 815 | |
Accounts Payable | 815 | |||
26. | June 30 | Dividends | 1,472.20 | |
Cash | 1,472.20 | |||
Adjusting Entries | ||||
27. | June 30 | Rent Expense | 1,600 | |
Prepaid Rent | 1,600 | |||
28. | June 30 | Office Supplies Expense | 371 | |
Office Supplies | 371 | |||
29. | June 30 | Interest Expense | 321.94 | |
Interest Payable | 321.94 | |||
30. | June 30 | Insurance Expense | 249 | |
Prepaid Insurance | 249 | |||
31. | June 30 | Accounts Receivable | 5,375 | |
Consultation Revenue | 5,375 | |||
32. | June 30 | Depreciation Expense | 3,428.53 | |
Accumulated Depreciation : Building | 205.03 | |||
Accumulated Depreciation : Office Equipment | 22.17 | |||
Accumulated Depreciation : Computer Equipment | 3,201.33 | |||
33. | June 30 | Salaries Expense | 531 | |
Salaries Payable | 531 | |||
34. | June 30 | Interest Expense ( 906.25 + 59.33) | 965.58 | |
Interest Payable | 965.58 | |||
35. | June 30 | Income Tax Expense | ||
Income Taxes Payable | ||||
Closing Entries | ||||
36. | June 30 | Consultation Revenue | 23,880 | |
Income Summary | 23,880 | |||
37. | June 30 | Income Summary | 14,551.54 | |
Salaries Expense | 2,301 | |||
Advertising Expense | 300 | |||
Office Supplies Expense | 371 | |||
Repairs Expense | 1,090 | |||
Rent Expense | 1,600 | |||
Insurance Expense | 249 | |||
Utilities Expense | 815 | |||
Depreciation Expense | 3,428.53 | |||
Interest Expense | 1,287.52 | |||
Income Tax Expense | 3,109.49 | |||
38. | June 30 | Income Summary | 9,328.46 | |
Retained Earnings | 9,328.46 | |||
39. | June 30 | Retained Earnings | 1,472.20 | |
Dividends | 1,472.20 |
EM221 Insert Draw Page Layout Formulas Data Review View Home Paste June 1: Byte of Accounting, In...
в Byte of Accounting, Inc. John Clark 3394 Description of transaction June 1: Byte of Accounting, Inc. issued 2,650 shares of its common stock to Jeremy after $25,300 in cash and computer equipment with a fair market value of $35,650 were received. Transaction 01. June 1: Byte of Accounting, Inc. issued 2.451 shares of its common stock after acquiring from Courtney S42,550 in cash, computer equipment with a fair market value of $12,880 and office equipment with a fair value...
Paste Copy Format BIU-- - Merge & Center DA X ✓ fx June 1: Byte of Accounting, Inc. issued 2,610 shares of its common stock to Jeremy after $27,040 inca 3 Transaction Byte of Accounting, Inc. Akaolisa Ngwu 6023 Description of transaction June 1: Byte of Accounting, Inc. issued 2,610 shares of its common stock to Jeremy after $27.040 in cash and computer equipment with a fair market value of $40,820 were received June 1: Byte of Accounting, Inc. issued...
June 1: Byte of Accounting, Inc. issued 2,580 shares of its common stock to Jeremy after $30,160 in cash and computer equipment with a fair market value of $44,660 were received. June 1: Byte of Accounting, Inc. issued 1,962 shares of its common stock after acquiring from Courtney $42,050 in cash, computer equipment with a fair market value of $13,920 and office equipment with a fair value of $928. June 1: Byte of Accounting, Inc. acquired $69,600 in cash from...
ransaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,670 shares of its common stock to Jeremy after $31,900 in cash and computer equipment with a fair market value of $45,530 were received. 02. June 1: Byte of Accounting, Inc. issued 1,851 shares of its common stock after acquiring from Courtney $36,250 in cash, computer equipment with a fair market value of $16,240 and office equipment with a fair value of $1,189. 03. June 1: Byte of...
i need help forming the journal entries for the information above. Data Tools window Help Format Edit View Insert Excel file Data Formulas Review View Home Insert Page Layout f income taxes are to be computed at the rate of 25 percent of net in 8.81 Byte of Accounting, Inc. 597.750 inch and with a first of Jet Byte of A gined 2365 ha ofisc herg Courney 541.250 in cash computer with a market of 514 S o ffice een...
Prepare Journal entries(1-39) with transactions and list of accounts given 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 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock 3200 Retained Earnings 3300 Dividends 3400 Income...
what are the journal entries for 32,34,&35? fx The note payable relating to the June 2, and 10 transactions is a five-year - 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 $7,500. The...
transactions to a general ledger A- A+ But Copy Format a 3 Merge & Center. S x June 8: Unsatisfactory office equipment costing $60 was returned to Discount Computer for B15 J el: tyw of Accounting, Inc. quired 574,800 in cash from Lauryn and issued 3.400 shares of is e ther Jusel: tyw of Accounting, Inc. issued 2,370 shares of its common stock to the N $23.540 inch and computer equipment with a firmarket value of $33,000 were received June...
#29 says the annual interest rate on the mortgage payable was 7.00 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16th. #19 says purchased office supplies for $605 on credit. Record the purchase as an increase to the assets. I only need help with #'s 27-39 Transaction Description of transaction June 1: Byte of Accounting, Inc. acquired $50,000 in cash from Lauryn and issued 2,000 shares...
01. June 1: Byte of Accounting, Inc. issued 2,670 shares of its common stock to Jeremy after $31,900 in cash and computer equipment with a fair market value of $45,530 were received. 02. June 1: Byte of Accounting, Inc. issued 1,851 shares of its common stock after acquiring from Courtney $36,250 in cash, computer equipment with a fair market value of $16,240 and office equipment with a fair value of $1,189. 03. June 1: Byte of Accounting, Inc. acquired $58,000...