What did I do wrong for Journal Entry #27, under adjusting journal entries?

HOME INSERI PAGI FORMULAS DATA REVIEW VIEW TED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected Vi X & fx B 01. June 1: Byte of Accounting, Inc. issued 2,650 shares of its common stock to Jeremy after $24,200 in cash and computer equipment with a fair market value of $34,100 were received 02. June 1: Byte of Accounting, Inc. issued 2,545 shares of its common stock after acquiring from Courtney S42,900 in cash, computer equipment with a fair market value of $12,320 and office equipment with a fair value of $770. 03. June 1: Byte of Accounting, Inc. acquired $61,600 in cash from Morgan Grant and issued 2,800 shares of its common stock 04. June 2: A down payment of $36,000 in cash was made on additional computer equipment that was purchased for $180,000. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $500 was purchased on credit from Discount Computer Corporation 06. June 8: Unsatisfactory office equipment costing $100 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 07. June 10: Byte paid $27,500 on the balance it owed on the June 2 purchase of computer equipment 08. June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $5,808 in cash. The effective date of the policy was June 16. 09. June 16: Computer consultation revenue of $7,500 was received. 10. June 16: Byte purchased a building and the land it is on for $119,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $19,000. The balance of the cost is to be allocated to the building. Byte made a cash down payment of S11,900 and executed a mortgage for the balance. The mortgage is payable in eight equal annual Introduction FAQ Welcome Chart of Accounts Transactions General Journal Worksh Type here to search O B 10. June 16. Byte purchased a building and the land it is on for $119,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $19,000. The balance of the cost is to be allocated to the building. Byte made a cash down payment of $11,900 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1. 11. June 17: Cash of $7,500 was paid for rent for June, July and August. Put the total amount into the Prepaid Rent account 12. June 17: Received a bill of $475 from the local newspaper for advertising. 13. June 21: Billed various miscellaneous local customers $4,900 for consulting services performed 14. June 21: A fax machine for the office was purchased for $825 cash. 15. June 21: Accounts payable in the amount of $400 were paid. 16. June 22: Paid the advertising bill that was received on June 17. 17. June 22: Received a bill for $1,190 from Computer Parts and Repair Co. for repairs to the computer equipment. 18. June 22: Paid salaries of S910 to equipment operators for the week ending June 18. 19. June 23: Cash in the amount of S3,925 was received on billings. 20. June 23: Purchased office supplies for $530 on credit. Record the purchase as an increase to the assets. 21. June 28: Billed S6,015 to miscellaneous customers for services performed to June 25. CTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected V X & fx 1 B. 22. June 29: Cash in the amount of $5,699 was received for billings. 23. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co. 24. June 29: Paid salaries of $910 to equipment operators for the week ending June 25. 25. June 30: Received a bill for the amount of $840 from O & Oil and Gas Co. 26. June 30: Paid a cash dividend of S0.22 per share to the three shareholders of Byte. [IMPORTANT NOTE: The number of shares of capital stock outstanding can be determined from the first three transactions.] Adjusting Entries - Round to two decimal places. 27. The rent payment made on June 17 was for June, July and August. Expense the amount associated with one month's rent 28. A physical inventory showed that only $214.00 worth of office supplies remained on hand as of June 30. 29. The annual interest rate on the mortgage payable was 7.25 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16 30. Information relating to the prepaid insurance may be obtained from the transaction recorded on June 14. Expense the amount associated with one half month's insurance. 31. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $5,625 for the period of June 28-30 32. The expense for depreciation follows: Introduction FAQ Welcome Chart of Accounts Transactions General Journal Work Type here to search ORI X 1 B 31. A review of Byte's job worksheets show that there are unbilled revenues in the amount of $5,625 for the period of June 28-30. 32. The expense for depreciation follows: Building - $242.00 Computer Equipment - $3,047.00 Office Equipment $22.00 33. A review of the payroll records show that unpaid salaries in the amount of $546 are owed by Byte for three days, June 28 - 30. 34. The note payable relating to the June 2, and 10 transactions is a five-year note, with interest at the rate of 12 percent annually. The June interest expense from this note is $1,160.67. 35. Income taxes are to be computed at the rate of 25 percent of net income before taxes. [IMPORTANT NOTE: Since the income taxes are a percent of the net income you will want to prepare the Income Statements through the Net Income Before Tax line. The worksheet contains all of the accounts and their balances which you can then transfer to the appropriate financial statement Closing Entries Introduction FAQ Welcome Chart of Accounts Transactions General Journal Workshes Type here to search i x] 1-INC ECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View A :X fr 1 B [IMPORTANT NOTE: Since the income taxes are a percent of the net income you will want to prepare the Income Statements through the Net Income Before Tax line. The worksheet contains all of the accounts and their balances which you can then transfer to the appropriate financial statement Closing Entries 36. Close the reveme accounts 37. Close the expense accounts. 38. Close the income summary account. 39. Close the dividends account. Introduction FAQ Welcome Chart of Accounts Transactions General Journal Workshel Type here to search T-INO Transactic Date Account Description Debit Credit 1,758.90 Dividends Paid Dividends Paid 1,758.90 4 Name 130 131 26 Jun 30 3300 Dividends 132 26 Jun 30 1110 Cash 133 134 135 Round to two decimal places. 136 27 Jun 30 5010 Rent Expense 27 Jun 30 1140 Prepaid Rent 138 139 140 # 27 Not in Balance by $.001 Rent Expense Recognised Round To Two Decimal Places 2,500.00 137 2,500.00