create a general journal, general ledger, unadjusted trial balance, adjusted trial balance, income statement, and shareholder's equity statement

Productions Legal Pad Nume Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries and Wages Payable 2106 Income Taxes Payable 2202 Notes Pavable 2210 Bond Payable 2212 Premium on Bond Payable 3100 Common Stock 3120 Paid-In Capital in Excess of Par 3200 Retained Earnings 3300 Dividends 3400 Income Summary 4100 Sales Revenue 5010 Rent Expense 5020 Salaries and Wages Expense 5030 Advertising Expense 5040 Maintenance & Repairs Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone and Internet Expense 5150 Income Tax Expense 5300 Cost of Goods Sold Normal Balance Debit Debit Credit Debit Debit Debit Debit Debit Credit Debit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Debit Credit Credit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit A1 X A B E F G H H 4 D Post Closing Trial Balance As of December 31, 2020 O 00001 Credit Debit 18,950.00 30,000.00 600.00 2,700.00 900.00 65,100.00 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 29 Account Number Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1140 Prepaid Rent 1150 Supplies 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2105 Salaries and Wages Payable 2106 Income Taxes Payable 3100 Common Stock 3120 Paid-In Capital in Excess of Par 3200 Retained Earnings Total 6,200.00 23,000.00 9,200.00 47,330.00 920.00 6,000.00 40,000.00 6,400.00 24,000.00 140,650.00 140,650.00 A1 fac E F Nood B D 1 A Byte of Accounting, Inc. 2. Trial Balance 3 As of November 30, 2021 4 5 6 Account Unadjusted Trial Balance 7 Number Name Debit Credit 8 1110 Cash 26,675.00 9 1120 Accounts Receivable 26,000.00 10 1121 Allowance for Doubtful Accounts $ 600.00 11 1130 Prepaid Insurance 12 1140 Prepaid Rent 2,700.00 13 1150 Supplies 2,700.00 14 1160 Inventory 15 1211 Office Equipment 65,100.00 16 1212 Accum. Depr.-Office Equip. 6,200.00 17 1311 Computer Equipment 23,000.00 18 1312 Accum. Depr.-Computer Equip. 9,200.00 19 2101 Accounts Payable 3,665.00 20 2102 Unearned Revenue 21 2103 Interest Payable 22 2105 Salaries and Wages Payable 23 2106Income Taxes Payable 24 2202 Notes Payable 25 3100 Common Stock 40,000.00 26 3120 Paid-In Capital in Excess of Par 6,400.00 27 3200 Retained Earnings 24,000.00 28 3300 Dividends 29 30 4100 Sales Revenue 420,000.00 31 5010 Rent Expense 29,700.00 B2 5020 Salaries and Wages Expense 101,200.00 83 5030 Advertising Expense 3,960.00 34 5040 Maintenance & Repairs Expense 13,640.00 35 5080 Supplies Expense 36 5090 Interest Expense 87 5100 Insurance Expense 5110 Depreciation Expense 39 5120 Bad Debt Expense 10 5140 Telephone and Internet Expense 5,390.00 41 5150 Income Tax Expense 42 5300 Cost of Goods Sold 210,000.00 43 Total 510,065.00 510,065.00 44 45 16 17 48 19 50 O 0633800 D E F G H 1 J K L A 25 Transaction B B Description of transaction 26 01. December 1 a new investor, made an investment in Byte by purchasing 2,100 shares of its common stock paying $60,900.00 in cash. The par value of the common stock was $25.00 per share. 27 28 02. December 3: Byte purchased a Ricoh Color Copier for $5,100.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. 29 30 03. December 3: Check # 6001 for $2,700.00 was issued by Byte to pay for rent of the office space for December. 31 32 04. December 3: Byte received 12 Super Toners for resale to customers at a cost of $22.00 per toner. The invoice number was 7249, and requires payment within 30 days. 33 34 05. December 10: Byte sold 6 Super Toners to a customer on account for $59.00 each. The Sales order number was 12100. 35 36 06. December 10: Byte records the cost of the 6 Super Toners sold using FIFO. The sales order number was 12100. 37 38 07. December 11: Check # 6002 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll taxes at this time.) 39 40 08. December 14: Check # 6003 was issued to purchase a one-year insurance policy covering its computer equipment. The cost of the insurance is $6,552.00 and paid to Seth's Insurance. The effective date of the policy was December 16 and the invoice number was 2387. 41 42 43 09. December 15: Byte purchased $350.00 of supplies on account. 44 10. December 16: Byte received 12 Super Toners purchased for resale to customers. The cost was $31.00 per toner. The invoice number was 7959, and payment is required in 30 days. 45 ... Chart of Accounts Post Closing TB Last Year Trial Balance Nov. 30 Transactions Adjusting Transactions Closing Transactions General Jourr ... A A E H 46 11. December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the $590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 47 48 12. December 17: Byte received invoice number 26354 in the amount of $725.00 from the local newspaper for advertising. 49 50 13. December 18: Check # 6004 was issued to pay Accounts Payable in the amount of $720.00. 51 52 14. December 19: Byte sold 17 Super toners to a customer on account for $59.00 each. The sales order number was 12101. 53 54 15. December 19: Byte records the cost of the 17 Super Toners sold using FIFO. The sales order number was 12101. 55 56 16. December 21: Byte received an emailed invoice in the amount of $5,500.00 for computers that were drop shipped and received today. 57 58 17. December 21: Byte billed various miscellaneous local customers $11,000.00 for computers that were delivered today. 59 60 61 18. December 21: Record the cost of the computers that were sold today. 62 19. December 22: Check # 6005 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll taxes at this time.) 63 64 20. December 22: Byte received a bill for $1,095.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 65 66 21. December 22: Check # 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. 67 68 Chart of Accounts | post Closing TB Last Year | Trial Balance Nov. 30 Transactions Adjusting Transactions Closing Transactions General Jourr ... + Ready Accessibility: Investigate A B H 21. December 22: Check # 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. 67 68 22. December 22: Byte received 19 Super Toners purchased for resale to customers. The cost was $33.00 per toner. The invoice number was 8988, and payment is required in 30 days. 69 70 23. December 23: Byte received $20,775.00 from customers billed when they received delivery. 71 72 24. December 23: Byte received an emailed invoice in the amount of $6,750.00 for computers that were drop shipped and received today. 73 74 25. December 28: Byte billed various miscellaneous local customers $13,500.00 for computers that were delivered today. 75 76 77 26. December 28: Record the cost of the computers that were sold today. 78 27. December 28: Byte paid the bill that was previously received and recorded from Computer Parts and Repairs Co with Check # 6007. The invoice number was 43254. 79 80 81 28. December 29: Byte received $14,000.00 from customers billed when they received delivery. 82 29. December 29: Byte received a bill for the amount of $680.00 from AT&T for the telephone and internet access. The invoice number was 784537. 83 84 30. December 30: Check # 6008 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll taxes at this time.) 85 86 , a 2 31. December 30: Check # 6009 was issued to pay a cash dividend of $.25 per share to shareholder of Byte. 87 88 32. December 30: Check # 6010 was issued to pay a cash dividend of $.25 per share to , a shareholder of Byte. 89 90 File Home Insert Page Layout Formulas Data Review View Help Times New Roman 12 ' A A a Wrap Text Custom Normal 2 2 2 Normal 23 LLL LL X Cut LECopy Format Painter Paste BIU A Bad Good $ % V CA 40 00 000 Insert Delete Merge & Center | 2011 y Normal 2 Normal 2 2 Conditional Format as Normal fix... Normal Formatting Table Styles Clipboard Font Alignment Number Cells B29 X f December 3: Byte purchased a Ricoh Color Copier for $5,100.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a yea A D D E F G H H 1 1 J L M M B December 30: Byte received a $9,965.00 check from ordered which will be delivered in January. Corporation for merchandise 33. 91 92 93 Christian Wolff, Byte's CPA, indicated that the previous bookkeeper was not very good. The CPA prepared a bank reconciliation and discovered that the bookkeeper neglected to record the bond issued on January 1 of this year and neglected the recording of the interest payment on June 30. Since Byte does not make entries into "closed" periods, record the entries as of December 31. 94 95 34. December 31: On January 1, Byte received $182,646.30 when they issued a $170,000.00, 7%, ten-year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded. 96 97 35. December 31: Check # 5367 was issued on June 30 for the timely interest payment for the bond. Record the entry using the effective interest method. This entry was never recorded. 98 99 36. December 31: Check # 6011 was issued on December 31st for the timely interest payment for the bond. Record the entry using effective-interest method. 100 101 A. Post your journal entries to the general ledger and prepare the Unadjusted Trial Balance as of December 31 st. 102 103 104 B. Make sure your work is correct by uploading your file. 105 106 107 108 109 110 5 6 7 Adjusting Entries - Record the following adjusting entries in the general journal and post to the general ledger. Round to two decimal places, =Round(number or formula,2). 37. The cash received and deposited from customers was $14,025.00 not the $14,000.00 orignially recorded. 8 9 38. A physical inventory showed that only $782.00 worth of supplies remained on hand as of December 31. 10 11 39. The interest on the note for the Ricoh Color Copier will be paid every six months. Record the December accrued interest on the note payable for the Ricoh purchased on December 1. 12 13 14 40. Record a journal entry to reflect that one-half month's insurance has expired. 15 41. A review of Byte's emails indicated that they received an invoice in the amout of $4,535.00 for computers that were drop shipped and received on December 28. 16 17 42. Bill various miscellaneous customers 200% of the cost of the computers that were drop shipped and received on December 28. 18 19 43. Record the cost of the computers that were sold on December 28. 20 21 22 44. The computer equipment on the Post Closing Trial Balance from last year was purchased last January for $23,000.00. It is being depreciated based upon an estimated useful life of 5.0 years with no salvage value. Calculate the depreciation for one year using the double-declining method of depreciation. 23 24 ... Chart of Accounts Post Closing TB Last Year Trial Balance Nov. 30 Transactions Adjusting Transactions Closing Transactions General Jourr... + A Byte of Accounting, Inc. Unadjusted Trial Balance As of December 31, 2021 Unadjusted Trial Balance Debit Credit Account Numbe Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries and Wages Payable 2106 Income Taxes Payable 2202 Notes Payable 2210 Bond Payable 2212 Premium on Bond Payable 3100 Common Stock 3120 Paid-In Capital in Excess of Par 3200 Retained Earnings 3300 Dividends 4100 Sales Revenue 5010 Rent Expense 5020 Salaries and Wages Expense 5030 Advertising Expense 5040 Maintenance & Repairs Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone and Internet Expense 5150 Income Tax Expense 5300 Cost of Goods Sold Total E F G H 1 J K L M N 0 Q 0 B D 1 A Byte of Accounting, Inc. 2 Adjusted Trial Balance 3 As of December 31, 2021 4 5 6 Account Adjusted Trial Balance 7 Number Name Debit Credit 8 1110 Cash 9 1120 Accounts Receivable 10 1121 Allowance for Doubtful Accounts 11 1130 Prepaid Insurance 12 1140 Prepaid Rent 13 1150 Supplies 14 1160 Inventory 15 1211 Office Equipment 16 1212 Accum. Depr.-Office Equip. 17 1311 Computer Equipment 18 1312 Accum. Depr.-Computer Equip. 19 2101 Accounts Payable 20 2102 Unearned Revenue 21 2103 Interest Payable 22 2105 Salaries and Wages Payable 23 2106 Income Taxes Payable 24 2202 Notes Payable 25 2210 Bond Payable 26 2212 Premium on Bond Payable 27 3100 Common Stock 28 3120 Paid-In Capital in Excess of Par 29 3200 Retained Earnings 30 3300 Dividends 31 32 4100 Sales Revenue 33 5010 Rent Expense 34 5020 Salaries and Wages Expense 35 5030 Advertising Expense 36 5040 Maintenance & Repairs Expense 37 5080 Supplies Expense 38 5090 Interest Expense 39 5100 Insurance Expense 40 5110 Depreciation Expense 41 5120 Bad Debt Expense 42 5140 Telephone and Internet Expense 43 5150 Income Tax Expense 44 5300 Cost of Goods Sold 45 46 Total 47 48 A Byte of Accounting, Inc. Income Statement For Year Ending December 31, 2021 Revenues Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Rent Expense Salaries and Wages Expense Advertising Expense Maintenance & Repairs Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense Bad Debt Expense Telephone and Internet Expense Total Net Income Before Tax Income Tax Expense (Roud to two decimal places) Net Income After Tax A Byte of Accounting, Inc. Statement of Stockholders' Equity For Year Ending December 31, 2021 Common Paid-In Capital in Retained Stock Excess of Par Earnings Total Stockholders' Equity Balance, Beginning of Period Issue of Common Stock Cash Dividends Net Income Balance, End of Period Productions Legal Pad Nume Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries and Wages Payable 2106 Income Taxes Payable 2202 Notes Pavable 2210 Bond Payable 2212 Premium on Bond Payable 3100 Common Stock 3120 Paid-In Capital in Excess of Par 3200 Retained Earnings 3300 Dividends 3400 Income Summary 4100 Sales Revenue 5010 Rent Expense 5020 Salaries and Wages Expense 5030 Advertising Expense 5040 Maintenance & Repairs Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone and Internet Expense 5150 Income Tax Expense 5300 Cost of Goods Sold Normal Balance Debit Debit Credit Debit Debit Debit Debit Debit Credit Debit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Credit Debit Credit Credit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit A1 X A B E F G H H 4 D Post Closing Trial Balance As of December 31, 2020 O 00001 Credit Debit 18,950.00 30,000.00 600.00 2,700.00 900.00 65,100.00 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 29 Account Number Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1140 Prepaid Rent 1150 Supplies 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2105 Salaries and Wages Payable 2106 Income Taxes Payable 3100 Common Stock 3120 Paid-In Capital in Excess of Par 3200 Retained Earnings Total 6,200.00 23,000.00 9,200.00 47,330.00 920.00 6,000.00 40,000.00 6,400.00 24,000.00 140,650.00 140,650.00 A1 fac E F Nood B D 1 A Byte of Accounting, Inc. 2. Trial Balance 3 As of November 30, 2021 4 5 6 Account Unadjusted Trial Balance 7 Number Name Debit Credit 8 1110 Cash 26,675.00 9 1120 Accounts Receivable 26,000.00 10 1121 Allowance for Doubtful Accounts $ 600.00 11 1130 Prepaid Insurance 12 1140 Prepaid Rent 2,700.00 13 1150 Supplies 2,700.00 14 1160 Inventory 15 1211 Office Equipment 65,100.00 16 1212 Accum. Depr.-Office Equip. 6,200.00 17 1311 Computer Equipment 23,000.00 18 1312 Accum. Depr.-Computer Equip. 9,200.00 19 2101 Accounts Payable 3,665.00 20 2102 Unearned Revenue 21 2103 Interest Payable 22 2105 Salaries and Wages Payable 23 2106Income Taxes Payable 24 2202 Notes Payable 25 3100 Common Stock 40,000.00 26 3120 Paid-In Capital in Excess of Par 6,400.00 27 3200 Retained Earnings 24,000.00 28 3300 Dividends 29 30 4100 Sales Revenue 420,000.00 31 5010 Rent Expense 29,700.00 B2 5020 Salaries and Wages Expense 101,200.00 83 5030 Advertising Expense 3,960.00 34 5040 Maintenance & Repairs Expense 13,640.00 35 5080 Supplies Expense 36 5090 Interest Expense 87 5100 Insurance Expense 5110 Depreciation Expense 39 5120 Bad Debt Expense 10 5140 Telephone and Internet Expense 5,390.00 41 5150 Income Tax Expense 42 5300 Cost of Goods Sold 210,000.00 43 Total 510,065.00 510,065.00 44 45 16 17 48 19 50 O 0633800 D E F G H 1 J K L A 25 Transaction B B Description of transaction 26 01. December 1 a new investor, made an investment in Byte by purchasing 2,100 shares of its common stock paying $60,900.00 in cash. The par value of the common stock was $25.00 per share. 27 28 02. December 3: Byte purchased a Ricoh Color Copier for $5,100.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. 29 30 03. December 3: Check # 6001 for $2,700.00 was issued by Byte to pay for rent of the office space for December. 31 32 04. December 3: Byte received 12 Super Toners for resale to customers at a cost of $22.00 per toner. The invoice number was 7249, and requires payment within 30 days. 33 34 05. December 10: Byte sold 6 Super Toners to a customer on account for $59.00 each. The Sales order number was 12100. 35 36 06. December 10: Byte records the cost of the 6 Super Toners sold using FIFO. The sales order number was 12100. 37 38 07. December 11: Check # 6002 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll taxes at this time.) 39 40 08. December 14: Check # 6003 was issued to purchase a one-year insurance policy covering its computer equipment. The cost of the insurance is $6,552.00 and paid to Seth's Insurance. The effective date of the policy was December 16 and the invoice number was 2387. 41 42 43 09. December 15: Byte purchased $350.00 of supplies on account. 44 10. December 16: Byte received 12 Super Toners purchased for resale to customers. The cost was $31.00 per toner. The invoice number was 7959, and payment is required in 30 days. 45 ... Chart of Accounts Post Closing TB Last Year Trial Balance Nov. 30 Transactions Adjusting Transactions Closing Transactions General Jourr ... A A E H 46 11. December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the $590.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable account using the allowance method. 47 48 12. December 17: Byte received invoice number 26354 in the amount of $725.00 from the local newspaper for advertising. 49 50 13. December 18: Check # 6004 was issued to pay Accounts Payable in the amount of $720.00. 51 52 14. December 19: Byte sold 17 Super toners to a customer on account for $59.00 each. The sales order number was 12101. 53 54 15. December 19: Byte records the cost of the 17 Super Toners sold using FIFO. The sales order number was 12101. 55 56 16. December 21: Byte received an emailed invoice in the amount of $5,500.00 for computers that were drop shipped and received today. 57 58 17. December 21: Byte billed various miscellaneous local customers $11,000.00 for computers that were delivered today. 59 60 61 18. December 21: Record the cost of the computers that were sold today. 62 19. December 22: Check # 6005 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll taxes at this time.) 63 64 20. December 22: Byte received a bill for $1,095.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 65 66 21. December 22: Check # 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. 67 68 Chart of Accounts | post Closing TB Last Year | Trial Balance Nov. 30 Transactions Adjusting Transactions Closing Transactions General Jourr ... + Ready Accessibility: Investigate A B H 21. December 22: Check # 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. 67 68 22. December 22: Byte received 19 Super Toners purchased for resale to customers. The cost was $33.00 per toner. The invoice number was 8988, and payment is required in 30 days. 69 70 23. December 23: Byte received $20,775.00 from customers billed when they received delivery. 71 72 24. December 23: Byte received an emailed invoice in the amount of $6,750.00 for computers that were drop shipped and received today. 73 74 25. December 28: Byte billed various miscellaneous local customers $13,500.00 for computers that were delivered today. 75 76 77 26. December 28: Record the cost of the computers that were sold today. 78 27. December 28: Byte paid the bill that was previously received and recorded from Computer Parts and Repairs Co with Check # 6007. The invoice number was 43254. 79 80 81 28. December 29: Byte received $14,000.00 from customers billed when they received delivery. 82 29. December 29: Byte received a bill for the amount of $680.00 from AT&T for the telephone and internet access. The invoice number was 784537. 83 84 30. December 30: Check # 6008 was issued to pay salaries of $2,300.00 to equipment operators. (Ignore payroll taxes at this time.) 85 86 , a 2 31. December 30: Check # 6009 was issued to pay a cash dividend of $.25 per share to shareholder of Byte. 87 88 32. December 30: Check # 6010 was issued to pay a cash dividend of $.25 per share to , a shareholder of Byte. 89 90 File Home Insert Page Layout Formulas Data Review View Help Times New Roman 12 ' A A a Wrap Text Custom Normal 2 2 2 Normal 23 LLL LL X Cut LECopy Format Painter Paste BIU A Bad Good $ % V CA 40 00 000 Insert Delete Merge & Center | 2011 y Normal 2 Normal 2 2 Conditional Format as Normal fix... Normal Formatting Table Styles Clipboard Font Alignment Number Cells B29 X f December 3: Byte purchased a Ricoh Color Copier for $5,100.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a yea A D D E F G H H 1 1 J L M M B December 30: Byte received a $9,965.00 check from ordered which will be delivered in January. Corporation for merchandise 33. 91 92 93 Christian Wolff, Byte's CPA, indicated that the previous bookkeeper was not very good. The CPA prepared a bank reconciliation and discovered that the bookkeeper neglected to record the bond issued on January 1 of this year and neglected the recording of the interest payment on June 30. Since Byte does not make entries into "closed" periods, record the entries as of December 31. 94 95 34. December 31: On January 1, Byte received $182,646.30 when they issued a $170,000.00, 7%, ten-year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded. 96 97 35. December 31: Check # 5367 was issued on June 30 for the timely interest payment for the bond. Record the entry using the effective interest method. This entry was never recorded. 98 99 36. December 31: Check # 6011 was issued on December 31st for the timely interest payment for the bond. Record the entry using effective-interest method. 100 101 A. Post your journal entries to the general ledger and prepare the Unadjusted Trial Balance as of December 31 st. 102 103 104 B. Make sure your work is correct by uploading your file. 105 106 107 108 109 110 5 6 7 Adjusting Entries - Record the following adjusting entries in the general journal and post to the general ledger. Round to two decimal places, =Round(number or formula,2). 37. The cash received and deposited from customers was $14,025.00 not the $14,000.00 orignially recorded. 8 9 38. A physical inventory showed that only $782.00 worth of supplies remained on hand as of December 31. 10 11 39. The interest on the note for the Ricoh Color Copier will be paid every six months. Record the December accrued interest on the note payable for the Ricoh purchased on December 1. 12 13 14 40. Record a journal entry to reflect that one-half month's insurance has expired. 15 41. A review of Byte's emails indicated that they received an invoice in the amout of $4,535.00 for computers that were drop shipped and received on December 28. 16 17 42. Bill various miscellaneous customers 200% of the cost of the computers that were drop shipped and received on December 28. 18 19 43. Record the cost of the computers that were sold on December 28. 20 21 22 44. The computer equipment on the Post Closing Trial Balance from last year was purchased last January for $23,000.00. It is being depreciated based upon an estimated useful life of 5.0 years with no salvage value. Calculate the depreciation for one year using the double-declining method of depreciation. 23 24 ... Chart of Accounts Post Closing TB Last Year Trial Balance Nov. 30 Transactions Adjusting Transactions Closing Transactions General Jourr... + A Byte of Accounting, Inc. Unadjusted Trial Balance As of December 31, 2021 Unadjusted Trial Balance Debit Credit Account Numbe Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries and Wages Payable 2106 Income Taxes Payable 2202 Notes Payable 2210 Bond Payable 2212 Premium on Bond Payable 3100 Common Stock 3120 Paid-In Capital in Excess of Par 3200 Retained Earnings 3300 Dividends 4100 Sales Revenue 5010 Rent Expense 5020 Salaries and Wages Expense 5030 Advertising Expense 5040 Maintenance & Repairs Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone and Internet Expense 5150 Income Tax Expense 5300 Cost of Goods Sold Total E F G H 1 J K L M N 0 Q 0 B D 1 A Byte of Accounting, Inc. 2 Adjusted Trial Balance 3 As of December 31, 2021 4 5 6 Account Adjusted Trial Balance 7 Number Name Debit Credit 8 1110 Cash 9 1120 Accounts Receivable 10 1121 Allowance for Doubtful Accounts 11 1130 Prepaid Insurance 12 1140 Prepaid Rent 13 1150 Supplies 14 1160 Inventory 15 1211 Office Equipment 16 1212 Accum. Depr.-Office Equip. 17 1311 Computer Equipment 18 1312 Accum. Depr.-Computer Equip. 19 2101 Accounts Payable 20 2102 Unearned Revenue 21 2103 Interest Payable 22 2105 Salaries and Wages Payable 23 2106 Income Taxes Payable 24 2202 Notes Payable 25 2210 Bond Payable 26 2212 Premium on Bond Payable 27 3100 Common Stock 28 3120 Paid-In Capital in Excess of Par 29 3200 Retained Earnings 30 3300 Dividends 31 32 4100 Sales Revenue 33 5010 Rent Expense 34 5020 Salaries and Wages Expense 35 5030 Advertising Expense 36 5040 Maintenance & Repairs Expense 37 5080 Supplies Expense 38 5090 Interest Expense 39 5100 Insurance Expense 40 5110 Depreciation Expense 41 5120 Bad Debt Expense 42 5140 Telephone and Internet Expense 43 5150 Income Tax Expense 44 5300 Cost of Goods Sold 45 46 Total 47 48 A Byte of Accounting, Inc. Income Statement For Year Ending December 31, 2021 Revenues Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Rent Expense Salaries and Wages Expense Advertising Expense Maintenance & Repairs Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense Bad Debt Expense Telephone and Internet Expense Total Net Income Before Tax Income Tax Expense (Roud to two decimal places) Net Income After Tax A Byte of Accounting, Inc. Statement of Stockholders' Equity For Year Ending December 31, 2021 Common Paid-In Capital in Retained Stock Excess of Par Earnings Total Stockholders' Equity Balance, Beginning of Period Issue of Common Stock Cash Dividends Net Income Balance, End of Period