Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:52 PM ... AutoSave OFF A9FvG... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert C Arial v 12 v AA 2 General Conditional Formatting Format as Tablev Cell Styles 27-O v Delete Paste A $ $ v W .CO Sort & Filter Find & Select Format v Analyze Data Sensitivity Solver Show Toollak A4 fr D E F H I J K L M N 0 P B Byte of Accounting, Inc. Cancan Collins 6827 2 2 Transaction Description of transaction 01. June 1: Hyte of Accounting, Inc, acquires $72,800 in cash from Lauryn and issue 2,800 shares of its CULLEN lock 5 5 B 02. June 1: Byle of Accounting, Inc. issued 2,550 shares of'ils CUCITO stock lu Camden Cullins aller S27.040 in cash and computer equipment with a fair market value of $39,260 were received 7 A 02. June 1: Byle of Accounting, Inc. issued 1,973 sures of'ils cucina slock aller acquiring Truc Courtney S35, 100 in cash, computer equipment with a fair market value of $15,600 and office equipment with a fair value of SS98 8 10 04. June 2. A down payment of S54,000 cash was made on additional compate equipment that is purchased for $170,000. A live-year nule was executed by Byto lue the balance 11 12 05 June 4: Additional office equipment costing $600 was purchased on credit from Discount Computer Corporation 13 14 06 June 8. Uusatisfactory office equipment costing $120 was returned to Discount Compul for call to be applied against the outstanding balance awed by Byte. 15 16 07. June 10: Byle paid $26,000 on the balance il wed un the Juno 2 purchase of corpuler cipal 17 1 18 US June 14: A one year insurance policy covering its computer equipment was purchased by Byte for 36,144 in cash. The effective date of the policy was June 16 18 20 09 June 16: Adhes in the amount of $6,000 W received Cur consulting run 21 22 10. June 16: Byte purchased a huilding and the land it is on for $119,000, so house its repair facilities and to store computer cquipment. The lot on which the building is located is vahed $19.000 The halance of the cust is to be allocatial to the building. Byle made a casb down payment of $11,900 od execuled a martgage for the halance. The mortgage is payable in eight equal annual installments beginning July I. 22 24 FAQ Welcome Chart of Accounts A Transactions A General Journal A Worksheet A Income Statement Changes in Retained Earnings Add-ins loaded successful y A Balance Sheet How to Cre+. + 100% Ready Excel File Edit View Insert Format Tools Data Window Help 98 Mon Nov 8 6:52 PM O.. AutoSave OFF A evo ... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments w Insert C Arial v 12 General 27. O v Conditional Formatting Format as Tablev Cell Styles Delete Paste B T A $ $ v .CO Sort & Filter Find & Select Format v Analyze Data Sensitivity Solver Show Toollak A4 D E F H I J K L M N 0 P 11 June 17: Cash of $7,500 was paid current fur June, July and August. Put the kilaluunt into the Prepaid Rent acut 12 June 17: Received a bill of S275 from the local newspaper for advertising 25 26 27 28 29 30 13 June 21: Accounts payable in the album of $490 were al June 21: A fax machine for the office was purchased for $875 cash. 31 32 15. June 21: Billed various miscellanenus local customers $4,100 for consulting services performed. 38 34 36 36 16 June 22: Paid salaries of S960 to quipment opa wions for the work ending Jue 18. 17 June 22: Radval a bill for $1,290 Lon Capule Parts and Repair Co. Corepairs to be computer equipment 37 38 18 June 22: Paid the natvertising bill that was received on June 17 19 June 23: Purchased ollice supplies Sur S480 o C. Rarued to purchase as an increase to the assets. 20 June 2]: Cash in the nunt u 5.3.285 was received a hillings. 39 40 41 42 43 44 45 46 47 4 4e 50 21 June 28: Billed $5,05 tn miscellaneous customers for services performed to June 25. 22 June 29: Pnid the bill received on June 22, from Computer Parts and Repairs Co. 29 June 29: Cash in the mount of $5,500 Was received for billings 24. June 29: Paid stics of 8960 to equipmcal opusions lur the work culing June 25. 51 52 75 June 30: Rarwived a bill for the amount of S840 Loir & Oil and Gas Co. 53 54 26 June 30: Paid a cash divided of 80.20 per share the the shar tolders olByla IMPORTANT NOTE: The number of shares of cypical stuck outstanding can be determined from the first three transactions.] 56 SE Mlims in Entri Ramin iww.decimales AFAQ A Welcome A Chart of Accounts Transactions A General Joumal A Worksheet A Income Statement Changes in Retained Earnings Add-ins loaded successful y A Balance Sheet How to Cre+. + 100% Ready Excel File Edit View Insert Format Tools Data Window Help 98 Mon Nov 8 6:53 PM O.. AutoSave OFF A 9 FC .. CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert C Arial v 12 v AA 2 General Conditional Formatting Format as Tablev Cell Styles 27. O v Delete Paste B T $ v % .CO Sort & Filter Find & Select Format v Analyze Data Sensitivity Solver Show Toollak A4 . x A D E F F H I J K L M N 0 P Ajust RSRUUTTA TO WIFI puces. 57 58 27. The rent payment made on June 17 was for June July and August. Expense the amount associated with w mouth's 11 60 28 A physical inventory showed that only $191.00 worth of ottice supplics renaicalon band as of June 30 81 62 29. The annual interest rate on the mortgage payable was 9,25 percent. Interest expense for one-half month should be corpuled because the building and lead were purchased and the liability incurred on June 16. 63 64 30 Information relating to the prepaid insurance may be obtained from the transaction recurved on June 14. Expense the amount asociated with one half months insurmce. 65 GE GI. A review of Byte's job workshorts show that there are billed revenues in the amount of $9,250 for the period of June 28-30. 32 67 68 89 70 71 72 The fixed assets have estimated use il lives as follows: Bukling - 31.5 years Computer Equipment - 30 yees Ole Equipment 70 YORES Use the straight-line method of depreciation, Magement hrs decided that Asses parchased curing a monbeszerza ed as il puritasai on the list day of the moth. The buildings scrap .w $500. The office equipment has a scrap value of $400. The computer equipment has no scrap value. Calculate the depreciation for one month 73 74 12 A levior of the payroll records sbow Lolipid sakrics in the amount of S576.00 are owed by Byle lur three days, June 2010 75 78 34. 77 The note payable relating to the June 2, and I transactions is n five-yer note, with interest at the rate af 12 punually. Iokatest expuse abould be computed based on a 360 day year [IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was $196,000 On June 10, cight days later, S26,000 was repud. Interest expense must be calculated on the $136,000 for cight days. In addition, interest expense on the S110,000 halance of the loan ($156,000 kes $26,000 - $110.000) must be called lur the 20 days ternaming in be comb of June. 78 79 00 01 35 Income taxes are to be computed at the rate of 25 percent of oct income before taxes FAQ A Welcome A Chart of Accounts Transactions A General Journal A Worksheet A Income Statement Changes in Retained Earnings Add-ins loaded successfully A Balance Sheet How to Cre+. + 100% Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:53 PM o.. AutoSave OFF A 9 FC .. CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments C Arial v 12 v AA 2 General Conditional Formatting Format as Table v Insert Delete 27-O v Paste B T A $ 12 98 Sort & Filter Sensitivity Cell Styles Find & Select Solver Format v Analyze Data Show Toollak A4 . x f A D E F K L M N 0 0 P 79 10 81 35. . Love lacs lo be computed at the tale of 25 poul of net income become a S. IMPORTANT NOTE: Since the income taxes aru a parent of the net income you will wanita pe pare the Income Statements throagh the Net Income Before Tex line. The worksheet contains all of the accounts and their bakances which you can thalsfer to the appropriate linancial stalcancat. A2 03 04 Closing Entries 08 UC 36. Close the real accounts 07 be 37 Close the expense counts 89 18. Close the income Nurmay count 19. Close the dividends acerunt. 90 91 92 93 94 95 86 97 98 99 100 101 102 103 104 106 106 107 108 109 110 111 112 113 114 115 116 117 118 FAQ A Welcome A Chart of Accounts Transactions A General Joumal A Worksheet A Income Statement Changes in Retained Earnings Add-ins loaded successfully A Balance Sheet How to Cre+. + 100% Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:53 PM ... AutoSave OFF A 9 FC .. CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments C Arial v 12 v AA General v Conditional Formatting Format as Tablev Cell Styles 27-O ===y Insert Delete v Format v I Paste B T U A $ v % 98 Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taollak A1 fr Number D E F G J L M N 0 | P R S T U V W X 1 2 4 5 B 7 . 9 10 11 12 13 15 16 17 18 19 20 21 22 23 24 25 28 27 28 29 30 31 32 33 34 38 36 37 38 30 40 41 42 43 44 45 46 47 48 4G B C Number Name Numral Balance 1110 Cash Debt 1120 Accounts Robevable Ecbt 1130 Prepair Insurance Debi 1140 Prepan Runt Cebt 1150 Office Suppies Debt 1211 Office Equp Ecbt 1212 Accum. Depr.-Office Equip Cred! 1311 Computer Equip Cebt 1312 Accum. Cepr. Computer Ecup Credit 1411 Bulding Cost Debt 1412 Acum. Depr. Ruilding Credi 1510 Land Cebt 2101 Accounts Payable Credit 2102 Advanced Payments Credit 2103 Interest Payable Credit 2105 Salates Pwyub Crect Bar 2108 Income Taxes Payable Credit 2201 Mortgage Payable Croat 2202 Notes Payable Credit 3100 Capital Slock Cr 3200 Retained Earrings Credi 2300 Dividends Debt 9400 Income Summary Credi 4100 Computer & Consulting Revenue Cred 5010 Rent Expense Debt 5020 Salary Expense Debt 5030 Advertising Expense Debt 5040 Repa 19 & Maint. Expense Cebu 5050 Oil & Gas Expense Debu 3090 Supples Expenso Debt 5090 Interest Expense Cabt 5100 Insuranon Fapanse Chi 5110 Depreciation Experce Debt 8120 Income Tax Expense Debt AFAQ A Welcome Chart of Accounts A Transactions A General Joumal A Worksheet Income Statement A Balance Sheet C + A Changes in Retained Earnings Add-ins loaded successfully How to Cre+ | 100% Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:53 PM o.. AutoSave OFF A evo ... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments w v 12 Insert i Arial General 27-O v Conditional Formatting Format as Tablev Cell Styles = = = Paste B T A $ v .CO Delete v Format v Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taollak 142 fx K L L M N 0 P R S S T V W Y Z A C E F G . H J ET 22 Welcome to the worlds first Practice case, an Individualzed, Internet generated and graded case stud, that focuses on the analytically portion of the accounting yde alle autumaling the repetitive posting byule. 29 NOTE: If the program is not working e-mail markedman mieu 905 784.70. 24 25 Step I - The Chart of Accounts The chart of accounts includes all of the accounts that you can uve to solve your case. You may want to print the chart of accounts and use it an easy reference guide 27 28 Slep II - Journaling the Transactions 29 Using your unique transactions record the corresponding general curmalemy, rounding to two decimal places 30 For example, 31 01 June 1: Joseph Made in westment in Byte el Ascounting, Inc. by purchasing 2,000 shares of the common 32 stock for $40,000 cash. The par value of the common stock was $20 per share. 33 in the dele field enter the cale of the transaction. If you do not enter a date value arem essaye wl appear 34 Account Doble Credit Date 35 Name Description 36 37 01 Jun 01 38 39 40 41 42 In the accountries anter the account number that comesponds to the account in the chart of Acconta 43 You can also use the pul Constu find the appropriate count number. If you use a number that 44 is not on the chart of accounts an error message wil appear. 45 Dale Credit Transaction Account Debit 46 Name Description 47 42 01 Jun 01 1110 Cash 49 50 51 52 53 The name of the account will automaticaly appear in the name column. It is the wrong 54 Account renter the cont account number 55 FAQ Welcome Chart of Accounts A Transactions A General Journal A Worksheet A Income Statement Changes in Retained Eamings Add-ins loaded successfully A A Balance Sheet How to Cr + + 100% % Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:54 PM O.. AutoSave OFF A9FvG... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert C Arial 12 v w General Conditional Formatting Format as Tablev Cell Styles 27-O v Paste B T A $ .CO Delete v Format v Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taollak 142 fr A B D E F F J K L L M N 0 P R S S T V W Y Z 66 Enter the desorption in the cescription tied 57 Debit . Transaction Date Account Description Credit - Ini 58 Name 59 BO 01 Jun 01 11 10 C: 61 62 63 64 65 GE A7 Enter the amount in the dabil liels 6C ramachi Transaction Onte Dobit Account Crede 69 Name Description 70 Tracion 1 Not in Balance by the con 71 31 Jun 01 1110 Cash esimwa on 40.000 OD 72 72 74 75 76 Enter the wond scoount number 77 Credit Transaction Date Account Deti 78 Name Description 79 Traction 1 Noc in Baby 140.00 01 Jun 01 1110 - THE 40.000.00 A1 3100 watt 02 83 84 05 Enter the amount in the credit field. BE FAQ O Welcome A Chart of Accounts A Transactions A General Journal A Worksheet A Income Statement . Changes in Retained Eamings Add-ins loaded successfully A A Balance Sheet How to Cr + + 100% % Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:54 PM ... AutoSave OFF AFG... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments w Insert C 12 Arial v General 27-O v Conditional Formatting Format as Tablev Cell Styles = = = Paste B T A $ $ v % .CO Delete v Format v Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taollak 142 - fx C D E F J K L L M N 0 P R S S T V W Y Z BE Traston Date Account Name Description Deloit Credit 07 88 89 90 91 01 Jun 01 1110 Cash plains 3100 cathos IT 40.000.00 40,000.CO 92 92 94 Step Ill-Worksheet Although not graded, you need to complete the Worksheet it cach of your joumal entries arc in balance then your 90 Unaduated Trail Balance and the Adjusting Erry columns will be in balance. Your Adusted Tral Balance will halance SE Verkkeet The copy each at the account related to their exista cation in the income renter Balance When you place each of the Account haler coa inla the correc debitor credit parin in the Adj led Trial Blanca Sion of 87 Sheets of your workshop. If therel inoxre balance both the loane Staiment and the Balance Scelthen you ge wohnen worksheel in worlulud. A B K 1 2 3 4 5 5 Acco.IT Income Statement Balance Sheet 7 Numbar Nara Deht Credit Doht Credit 44 45 45 47 TOTAL 400.00 1,000.00 60.600.00 59.400.00 48 INET INCONE 50D 00 600.00 49 1.00000 100000 5000000 20:00 600.000 99 100 Step IV - Prepare the Financial Statement 101 After you have entered all of the transac.cns and prepared the Worksheet, you are bo prepare the Income Statement, 102 Shareholder's Equity Stacement and Bakrce Sheet using the formes provided Stan - Preparate Closing Entries 103 Based upon the formaten from your Worksheet or from your Francial Statements, prepare the desing entries 104 Stop VI - Upload the File 105 Whenever you want to have cybertex.cum grade your work submit them on the bottom of the screen test you downloaded the file 106 FAQ Welcome Chart of Accounts Transactions A General Journal Ready A Worksheet A Income Statement . Changes in Retained Eamings Add-ins loaded successfully A A Balance Sheet How to Cr + + 100% % Excel File Edit Window Help Mon Nov 8 6:54 PM View Insert Format Tools Data A 9 FC .. o.. AutoSave OFF CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments w Insert C Arial v 12 v AA General 27-O v Conditional Formatting Format as Table v Cell Styles = = = Delete v Paste B T A $ 98 Sort & Filter Find & Select Format Analyze Data Sensitivity Solver Shon Toollak D12 A B E F F G H J K L M N 0 P a T Unad usted Trallalance Debit Credit . Adjusting Entries Detit Credit Adusled Trial Ba ance Debit Creat . 5 Account 7 Number Name B 1110 Cash 9 1120 Accounts Receivable 10 1130 Prepaid Insurance 11 1140 Prcoald Rent 121150 Om Supplies 13 1211 Ok Equip 14 1212 Acam Dopronice Equip. 1B 1311 Computer Equip 16 1312 Ac. Depr.-Computer Equip 17 1411 Buiting con 1& 1412 Acum Dear Buding 19 1510 Land 20 2101 Accounts Payabla 21 2102 Advanced Payments 22 2103 Interest Payable 23 2106 Salaries Payable 24 2106 Income Taxes Payable 25 2201 Mortgage Payable 20402 Notes Para 273100 Captal Stock 283200 Rotarod Femings 29 3300 Ciridende 30 314100 Computer & Consuting Revenue 325010 Rent Expense 33 5020 Salary Expanas 34 5030 Auvertising Experise 36 38 5040 Repairs & Maint. Expense . 365050 OI & Gas Expense 37 5080 Supolas Fapanga 385090 Interest Exu 30 5100 Insurance Expense 405110 Deprecation Expense 41 5120 Income Tax F:panes 42 43 44 45 46 47 TOTAL 48 49 50 51 52 FAQ A Welcome Chart of Accounts A Transactions A General Joumal O Worksheet Income Statement A Balance Sheet A Changes in Retained Earning Add-ins loaded successfully How to C + + 100% % Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:54 PM O.. AutoSave OFF A evo ... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments al Arial V a 12 Y AP General Conditional Formatting F Format as Table Cell Styles v 27-O Insert Delete v Format v Paste BTU $ % ) V W:98 Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taopak A1 x fx A B E F G H I J J L M N 0 P R S T V W X 1 D A Byte of Accounting, Inc. Income Statement For Month Ending January 0, 1900 Revenues Computer & Consuling Revenue Expanses Rent Experte Saary Expers Advertising Expensa Real & Maint Expense Oi & Gas Expono Supples Expanse Interest Expense Insurance Expres Depreciation Expense Total Expenses Net Income Before TAX Income Tax Expenses Net Income Aner Tax 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2e 30 31 32 33 34 35 36 37 38 38 40 41 42 43 44 45 46 47 AR FAQ A Welcome Chart of Accounts A Transactions a General Journal A Worksheet Income Statement A Balance Sheet Changes in Retained Earnings Add-ins loaded successful y How to C + 100% Ready Excel File Edit Window Help Mon Nov 8 6:54 PM View Insert Format Tools Data A evo ... 0.. AutoSave OFF CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert C 10 Arial v AA General Conditional Formatting F Format as Table v 27-O v , Delete Paste B T A $ .98 Sort & Filter Cell Styles Find & Select Sensitivity Format v Analyze Data Solver Shon Taollak A1 A D E F G H H T J K L M N OP Q R S T U B A Byte of Accounting, Inc. Statement of Changes in Retained Earnings For Month Ending January 0, 1900 Total Balance, Reginning of Period Net Incama Dlarda RAIANCA, Frd of Period B 9 10 11 12 13 14 15 16 17 18 18 20 21 22 23 24 25 26 27 28 25 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 AFAQ A Welcome Chart of Accounts Transactions a General Journal A Worksheet Income Statement A Balance Sheet How to Ci + Changes in Retained Earnings Add-ins loaded successfully Ready 100% Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:54 PM o.. AutoSave IF A evo ... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments C Arial v 10 Insert General Conditional Formatting Format as Table v 27-O v ===y Paste B T A $ 18 Delete v Format v Sort & Filter Find & Select Cell Styles Analyze Data Sensitivity Solver Show Taollak A1 - x A B C D E F H H I J K L M N 0 P a R S T U V 10 11 12 13 14 15 16 17 18 Current Assets Cash Accounts Ropovable Prepaid Insurance Prepaid Rent Office Supplus Total 20 21 Long-Term Assets Office Ecup Accum. Depr. Office Equb. Computer Equip Accum. Depr. Computer Equip Bulding Cost Accum. Dopr.Bulking Land Total Total Assets 23 24 Liabilities Current Liabilities Accounts Payable Advanced Payment Interest Payabia Salantes Payable Income Taxes Payable Total 26 27 28 29 30 31 32 313 34 36 36 37 30 30 40 41 42 43 44 46 40 47 48 49 50 51 52 53 54 55 Long-Term Liabilities Mortgage Payabc Natos Payable Total Total Labities Stockholder's Equity Capital Stock Retained Earring Total Total Liabilities and Stockholder's Equity FAQ A A Welcome A Chart of Accounts A Transactions a General Journal A Worksheet A Income Statement A Changes in Retained Earnings Add-ins loaded successfully Balance Sheet How to Cr + 100% Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:52 PM ... AutoSave OFF A9FvG... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert C Arial v 12 v AA 2 General Conditional Formatting Format as Tablev Cell Styles 27-O v Delete Paste A $ $ v W .CO Sort & Filter Find & Select Format v Analyze Data Sensitivity Solver Show Toollak A4 fr D E F H I J K L M N 0 P B Byte of Accounting, Inc. Cancan Collins 6827 2 2 Transaction Description of transaction 01. June 1: Hyte of Accounting, Inc, acquires $72,800 in cash from Lauryn and issue 2,800 shares of its CULLEN lock 5 5 B 02. June 1: Byle of Accounting, Inc. issued 2,550 shares of'ils CUCITO stock lu Camden Cullins aller S27.040 in cash and computer equipment with a fair market value of $39,260 were received 7 A 02. June 1: Byle of Accounting, Inc. issued 1,973 sures of'ils cucina slock aller acquiring Truc Courtney S35, 100 in cash, computer equipment with a fair market value of $15,600 and office equipment with a fair value of SS98 8 10 04. June 2. A down payment of S54,000 cash was made on additional compate equipment that is purchased for $170,000. A live-year nule was executed by Byto lue the balance 11 12 05 June 4: Additional office equipment costing $600 was purchased on credit from Discount Computer Corporation 13 14 06 June 8. Uusatisfactory office equipment costing $120 was returned to Discount Compul for call to be applied against the outstanding balance awed by Byte. 15 16 07. June 10: Byle paid $26,000 on the balance il wed un the Juno 2 purchase of corpuler cipal 17 1 18 US June 14: A one year insurance policy covering its computer equipment was purchased by Byte for 36,144 in cash. The effective date of the policy was June 16 18 20 09 June 16: Adhes in the amount of $6,000 W received Cur consulting run 21 22 10. June 16: Byte purchased a huilding and the land it is on for $119,000, so house its repair facilities and to store computer cquipment. The lot on which the building is located is vahed $19.000 The halance of the cust is to be allocatial to the building. Byle made a casb down payment of $11,900 od execuled a martgage for the halance. The mortgage is payable in eight equal annual installments beginning July I. 22 24 FAQ Welcome Chart of Accounts A Transactions A General Journal A Worksheet A Income Statement Changes in Retained Earnings Add-ins loaded successful y A Balance Sheet How to Cre+. + 100% Ready Excel File Edit View Insert Format Tools Data Window Help 98 Mon Nov 8 6:52 PM O.. AutoSave OFF A evo ... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments w Insert C Arial v 12 General 27. O v Conditional Formatting Format as Tablev Cell Styles Delete Paste B T A $ $ v .CO Sort & Filter Find & Select Format v Analyze Data Sensitivity Solver Show Toollak A4 D E F H I J K L M N 0 P 11 June 17: Cash of $7,500 was paid current fur June, July and August. Put the kilaluunt into the Prepaid Rent acut 12 June 17: Received a bill of S275 from the local newspaper for advertising 25 26 27 28 29 30 13 June 21: Accounts payable in the album of $490 were al June 21: A fax machine for the office was purchased for $875 cash. 31 32 15. June 21: Billed various miscellanenus local customers $4,100 for consulting services performed. 38 34 36 36 16 June 22: Paid salaries of S960 to quipment opa wions for the work ending Jue 18. 17 June 22: Radval a bill for $1,290 Lon Capule Parts and Repair Co. Corepairs to be computer equipment 37 38 18 June 22: Paid the natvertising bill that was received on June 17 19 June 23: Purchased ollice supplies Sur S480 o C. Rarued to purchase as an increase to the assets. 20 June 2]: Cash in the nunt u 5.3.285 was received a hillings. 39 40 41 42 43 44 45 46 47 4 4e 50 21 June 28: Billed $5,05 tn miscellaneous customers for services performed to June 25. 22 June 29: Pnid the bill received on June 22, from Computer Parts and Repairs Co. 29 June 29: Cash in the mount of $5,500 Was received for billings 24. June 29: Paid stics of 8960 to equipmcal opusions lur the work culing June 25. 51 52 75 June 30: Rarwived a bill for the amount of S840 Loir & Oil and Gas Co. 53 54 26 June 30: Paid a cash divided of 80.20 per share the the shar tolders olByla IMPORTANT NOTE: The number of shares of cypical stuck outstanding can be determined from the first three transactions.] 56 SE Mlims in Entri Ramin iww.decimales AFAQ A Welcome A Chart of Accounts Transactions A General Joumal A Worksheet A Income Statement Changes in Retained Earnings Add-ins loaded successful y A Balance Sheet How to Cre+. + 100% Ready Excel File Edit View Insert Format Tools Data Window Help 98 Mon Nov 8 6:53 PM O.. AutoSave OFF A 9 FC .. CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert C Arial v 12 v AA 2 General Conditional Formatting Format as Tablev Cell Styles 27. O v Delete Paste B T $ v % .CO Sort & Filter Find & Select Format v Analyze Data Sensitivity Solver Show Toollak A4 . x A D E F F H I J K L M N 0 P Ajust RSRUUTTA TO WIFI puces. 57 58 27. The rent payment made on June 17 was for June July and August. Expense the amount associated with w mouth's 11 60 28 A physical inventory showed that only $191.00 worth of ottice supplics renaicalon band as of June 30 81 62 29. The annual interest rate on the mortgage payable was 9,25 percent. Interest expense for one-half month should be corpuled because the building and lead were purchased and the liability incurred on June 16. 63 64 30 Information relating to the prepaid insurance may be obtained from the transaction recurved on June 14. Expense the amount asociated with one half months insurmce. 65 GE GI. A review of Byte's job workshorts show that there are billed revenues in the amount of $9,250 for the period of June 28-30. 32 67 68 89 70 71 72 The fixed assets have estimated use il lives as follows: Bukling - 31.5 years Computer Equipment - 30 yees Ole Equipment 70 YORES Use the straight-line method of depreciation, Magement hrs decided that Asses parchased curing a monbeszerza ed as il puritasai on the list day of the moth. The buildings scrap .w $500. The office equipment has a scrap value of $400. The computer equipment has no scrap value. Calculate the depreciation for one month 73 74 12 A levior of the payroll records sbow Lolipid sakrics in the amount of S576.00 are owed by Byle lur three days, June 2010 75 78 34. 77 The note payable relating to the June 2, and I transactions is n five-yer note, with interest at the rate af 12 punually. Iokatest expuse abould be computed based on a 360 day year [IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was $196,000 On June 10, cight days later, S26,000 was repud. Interest expense must be calculated on the $136,000 for cight days. In addition, interest expense on the S110,000 halance of the loan ($156,000 kes $26,000 - $110.000) must be called lur the 20 days ternaming in be comb of June. 78 79 00 01 35 Income taxes are to be computed at the rate of 25 percent of oct income before taxes FAQ A Welcome A Chart of Accounts Transactions A General Journal A Worksheet A Income Statement Changes in Retained Earnings Add-ins loaded successfully A Balance Sheet How to Cre+. + 100% Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:53 PM o.. AutoSave OFF A 9 FC .. CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments C Arial v 12 v AA 2 General Conditional Formatting Format as Table v Insert Delete 27-O v Paste B T A $ 12 98 Sort & Filter Sensitivity Cell Styles Find & Select Solver Format v Analyze Data Show Toollak A4 . x f A D E F K L M N 0 0 P 79 10 81 35. . Love lacs lo be computed at the tale of 25 poul of net income become a S. IMPORTANT NOTE: Since the income taxes aru a parent of the net income you will wanita pe pare the Income Statements throagh the Net Income Before Tex line. The worksheet contains all of the accounts and their bakances which you can thalsfer to the appropriate linancial stalcancat. A2 03 04 Closing Entries 08 UC 36. Close the real accounts 07 be 37 Close the expense counts 89 18. Close the income Nurmay count 19. Close the dividends acerunt. 90 91 92 93 94 95 86 97 98 99 100 101 102 103 104 106 106 107 108 109 110 111 112 113 114 115 116 117 118 FAQ A Welcome A Chart of Accounts Transactions A General Joumal A Worksheet A Income Statement Changes in Retained Earnings Add-ins loaded successfully A Balance Sheet How to Cre+. + 100% Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:53 PM ... AutoSave OFF A 9 FC .. CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments C Arial v 12 v AA General v Conditional Formatting Format as Tablev Cell Styles 27-O ===y Insert Delete v Format v I Paste B T U A $ v % 98 Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taollak A1 fr Number D E F G J L M N 0 | P R S T U V W X 1 2 4 5 B 7 . 9 10 11 12 13 15 16 17 18 19 20 21 22 23 24 25 28 27 28 29 30 31 32 33 34 38 36 37 38 30 40 41 42 43 44 45 46 47 48 4G B C Number Name Numral Balance 1110 Cash Debt 1120 Accounts Robevable Ecbt 1130 Prepair Insurance Debi 1140 Prepan Runt Cebt 1150 Office Suppies Debt 1211 Office Equp Ecbt 1212 Accum. Depr.-Office Equip Cred! 1311 Computer Equip Cebt 1312 Accum. Cepr. Computer Ecup Credit 1411 Bulding Cost Debt 1412 Acum. Depr. Ruilding Credi 1510 Land Cebt 2101 Accounts Payable Credit 2102 Advanced Payments Credit 2103 Interest Payable Credit 2105 Salates Pwyub Crect Bar 2108 Income Taxes Payable Credit 2201 Mortgage Payable Croat 2202 Notes Payable Credit 3100 Capital Slock Cr 3200 Retained Earrings Credi 2300 Dividends Debt 9400 Income Summary Credi 4100 Computer & Consulting Revenue Cred 5010 Rent Expense Debt 5020 Salary Expense Debt 5030 Advertising Expense Debt 5040 Repa 19 & Maint. Expense Cebu 5050 Oil & Gas Expense Debu 3090 Supples Expenso Debt 5090 Interest Expense Cabt 5100 Insuranon Fapanse Chi 5110 Depreciation Experce Debt 8120 Income Tax Expense Debt AFAQ A Welcome Chart of Accounts A Transactions A General Joumal A Worksheet Income Statement A Balance Sheet C + A Changes in Retained Earnings Add-ins loaded successfully How to Cre+ | 100% Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:53 PM o.. AutoSave OFF A evo ... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments w v 12 Insert i Arial General 27-O v Conditional Formatting Format as Tablev Cell Styles = = = Paste B T A $ v .CO Delete v Format v Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taollak 142 fx K L L M N 0 P R S S T V W Y Z A C E F G . H J ET 22 Welcome to the worlds first Practice case, an Individualzed, Internet generated and graded case stud, that focuses on the analytically portion of the accounting yde alle autumaling the repetitive posting byule. 29 NOTE: If the program is not working e-mail markedman mieu 905 784.70. 24 25 Step I - The Chart of Accounts The chart of accounts includes all of the accounts that you can uve to solve your case. You may want to print the chart of accounts and use it an easy reference guide 27 28 Slep II - Journaling the Transactions 29 Using your unique transactions record the corresponding general curmalemy, rounding to two decimal places 30 For example, 31 01 June 1: Joseph Made in westment in Byte el Ascounting, Inc. by purchasing 2,000 shares of the common 32 stock for $40,000 cash. The par value of the common stock was $20 per share. 33 in the dele field enter the cale of the transaction. If you do not enter a date value arem essaye wl appear 34 Account Doble Credit Date 35 Name Description 36 37 01 Jun 01 38 39 40 41 42 In the accountries anter the account number that comesponds to the account in the chart of Acconta 43 You can also use the pul Constu find the appropriate count number. If you use a number that 44 is not on the chart of accounts an error message wil appear. 45 Dale Credit Transaction Account Debit 46 Name Description 47 42 01 Jun 01 1110 Cash 49 50 51 52 53 The name of the account will automaticaly appear in the name column. It is the wrong 54 Account renter the cont account number 55 FAQ Welcome Chart of Accounts A Transactions A General Journal A Worksheet A Income Statement Changes in Retained Eamings Add-ins loaded successfully A A Balance Sheet How to Cr + + 100% % Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:54 PM O.. AutoSave OFF A9FvG... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert C Arial 12 v w General Conditional Formatting Format as Tablev Cell Styles 27-O v Paste B T A $ .CO Delete v Format v Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taollak 142 fr A B D E F F J K L L M N 0 P R S S T V W Y Z 66 Enter the desorption in the cescription tied 57 Debit . Transaction Date Account Description Credit - Ini 58 Name 59 BO 01 Jun 01 11 10 C: 61 62 63 64 65 GE A7 Enter the amount in the dabil liels 6C ramachi Transaction Onte Dobit Account Crede 69 Name Description 70 Tracion 1 Not in Balance by the con 71 31 Jun 01 1110 Cash esimwa on 40.000 OD 72 72 74 75 76 Enter the wond scoount number 77 Credit Transaction Date Account Deti 78 Name Description 79 Traction 1 Noc in Baby 140.00 01 Jun 01 1110 - THE 40.000.00 A1 3100 watt 02 83 84 05 Enter the amount in the credit field. BE FAQ O Welcome A Chart of Accounts A Transactions A General Journal A Worksheet A Income Statement . Changes in Retained Eamings Add-ins loaded successfully A A Balance Sheet How to Cr + + 100% % Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:54 PM ... AutoSave OFF AFG... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments w Insert C 12 Arial v General 27-O v Conditional Formatting Format as Tablev Cell Styles = = = Paste B T A $ $ v % .CO Delete v Format v Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taollak 142 - fx C D E F J K L L M N 0 P R S S T V W Y Z BE Traston Date Account Name Description Deloit Credit 07 88 89 90 91 01 Jun 01 1110 Cash plains 3100 cathos IT 40.000.00 40,000.CO 92 92 94 Step Ill-Worksheet Although not graded, you need to complete the Worksheet it cach of your joumal entries arc in balance then your 90 Unaduated Trail Balance and the Adjusting Erry columns will be in balance. Your Adusted Tral Balance will halance SE Verkkeet The copy each at the account related to their exista cation in the income renter Balance When you place each of the Account haler coa inla the correc debitor credit parin in the Adj led Trial Blanca Sion of 87 Sheets of your workshop. If therel inoxre balance both the loane Staiment and the Balance Scelthen you ge wohnen worksheel in worlulud. A B K 1 2 3 4 5 5 Acco.IT Income Statement Balance Sheet 7 Numbar Nara Deht Credit Doht Credit 44 45 45 47 TOTAL 400.00 1,000.00 60.600.00 59.400.00 48 INET INCONE 50D 00 600.00 49 1.00000 100000 5000000 20:00 600.000 99 100 Step IV - Prepare the Financial Statement 101 After you have entered all of the transac.cns and prepared the Worksheet, you are bo prepare the Income Statement, 102 Shareholder's Equity Stacement and Bakrce Sheet using the formes provided Stan - Preparate Closing Entries 103 Based upon the formaten from your Worksheet or from your Francial Statements, prepare the desing entries 104 Stop VI - Upload the File 105 Whenever you want to have cybertex.cum grade your work submit them on the bottom of the screen test you downloaded the file 106 FAQ Welcome Chart of Accounts Transactions A General Journal Ready A Worksheet A Income Statement . Changes in Retained Eamings Add-ins loaded successfully A A Balance Sheet How to Cr + + 100% % Excel File Edit Window Help Mon Nov 8 6:54 PM View Insert Format Tools Data A 9 FC .. o.. AutoSave OFF CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments w Insert C Arial v 12 v AA General 27-O v Conditional Formatting Format as Table v Cell Styles = = = Delete v Paste B T A $ 98 Sort & Filter Find & Select Format Analyze Data Sensitivity Solver Shon Toollak D12 A B E F F G H J K L M N 0 P a T Unad usted Trallalance Debit Credit . Adjusting Entries Detit Credit Adusled Trial Ba ance Debit Creat . 5 Account 7 Number Name B 1110 Cash 9 1120 Accounts Receivable 10 1130 Prepaid Insurance 11 1140 Prcoald Rent 121150 Om Supplies 13 1211 Ok Equip 14 1212 Acam Dopronice Equip. 1B 1311 Computer Equip 16 1312 Ac. Depr.-Computer Equip 17 1411 Buiting con 1& 1412 Acum Dear Buding 19 1510 Land 20 2101 Accounts Payabla 21 2102 Advanced Payments 22 2103 Interest Payable 23 2106 Salaries Payable 24 2106 Income Taxes Payable 25 2201 Mortgage Payable 20402 Notes Para 273100 Captal Stock 283200 Rotarod Femings 29 3300 Ciridende 30 314100 Computer & Consuting Revenue 325010 Rent Expense 33 5020 Salary Expanas 34 5030 Auvertising Experise 36 38 5040 Repairs & Maint. Expense . 365050 OI & Gas Expense 37 5080 Supolas Fapanga 385090 Interest Exu 30 5100 Insurance Expense 405110 Deprecation Expense 41 5120 Income Tax F:panes 42 43 44 45 46 47 TOTAL 48 49 50 51 52 FAQ A Welcome Chart of Accounts A Transactions A General Joumal O Worksheet Income Statement A Balance Sheet A Changes in Retained Earning Add-ins loaded successfully How to C + + 100% % Ready Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:54 PM O.. AutoSave OFF A evo ... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments al Arial V a 12 Y AP General Conditional Formatting F Format as Table Cell Styles v 27-O Insert Delete v Format v Paste BTU $ % ) V W:98 Sort & Filter Find & Select Analyze Data Sensitivity Solver Show Taopak A1 x fx A B E F G H I J J L M N 0 P R S T V W X 1 D A Byte of Accounting, Inc. Income Statement For Month Ending January 0, 1900 Revenues Computer & Consuling Revenue Expanses Rent Experte Saary Expers Advertising Expensa Real & Maint Expense Oi & Gas Expono Supples Expanse Interest Expense Insurance Expres Depreciation Expense Total Expenses Net Income Before TAX Income Tax Expenses Net Income Aner Tax 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2e 30 31 32 33 34 35 36 37 38 38 40 41 42 43 44 45 46 47 AR FAQ A Welcome Chart of Accounts A Transactions a General Journal A Worksheet Income Statement A Balance Sheet Changes in Retained Earnings Add-ins loaded successful y How to C + 100% Ready Excel File Edit Window Help Mon Nov 8 6:54 PM View Insert Format Tools Data A evo ... 0.. AutoSave OFF CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert C 10 Arial v AA General Conditional Formatting F Format as Table v 27-O v , Delete Paste B T A $ .98 Sort & Filter Cell Styles Find & Select Sensitivity Format v Analyze Data Solver Shon Taollak A1 A D E F G H H T J K L M N OP Q R S T U B A Byte of Accounting, Inc. Statement of Changes in Retained Earnings For Month Ending January 0, 1900 Total Balance, Reginning of Period Net Incama Dlarda RAIANCA, Frd of Period B 9 10 11 12 13 14 15 16 17 18 18 20 21 22 23 24 25 26 27 28 25 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 AFAQ A Welcome Chart of Accounts Transactions a General Journal A Worksheet Income Statement A Balance Sheet How to Ci + Changes in Retained Earnings Add-ins loaded successfully Ready 100% Excel File Edit View Insert Format Tools Data Window Help Mon Nov 8 6:54 PM o.. AutoSave IF A evo ... CC6582 Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments C Arial v 10 Insert General Conditional Formatting Format as Table v 27-O v ===y Paste B T A $ 18 Delete v Format v Sort & Filter Find & Select Cell Styles Analyze Data Sensitivity Solver Show Taollak A1 - x A B C D E F H H I J K L M N 0 P a R S T U V 10 11 12 13 14 15 16 17 18 Current Assets Cash Accounts Ropovable Prepaid Insurance Prepaid Rent Office Supplus Total 20 21 Long-Term Assets Office Ecup Accum. Depr. Office Equb. Computer Equip Accum. Depr. Computer Equip Bulding Cost Accum. Dopr.Bulking Land Total Total Assets 23 24 Liabilities Current Liabilities Accounts Payable Advanced Payment Interest Payabia Salantes Payable Income Taxes Payable Total 26 27 28 29 30 31 32 313 34 36 36 37 30 30 40 41 42 43 44 46 40 47 48 49 50 51 52 53 54 55 Long-Term Liabilities Mortgage Payabc Natos Payable Total Total Labities Stockholder's Equity Capital Stock Retained Earring Total Total Liabilities and Stockholder's Equity FAQ A A Welcome A Chart of Accounts A Transactions a General Journal A Worksheet A Income Statement A Changes in Retained Earnings Add-ins loaded successfully Balance Sheet How to Cr + 100% Ready