Home / Questions / Check my work GLO205-Based on Problem 2-2A Aracel Engineering Aracel Engineering completed the follo

Check my work GLO205-Based on Problem 2-2A Aracel Engineering Aracel Engineering completed the follo


Check my work GLO205-Based on Problem 2-2A Aracel Engineering Aracel Engineering completed the following transactions in the Check my work GLO205-Based on Problem 2-2A Aracel Engineering Aracel Engineering completed the following transactions in the month of June. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. 1 Jenna Aracel, the owmer, invested $100,e00 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock. 2 The company purchased land worth $49,00e for an office by paying $6,300 cash and signing $42,700. 3 The company purchased a portable building with $55,eee cash and moved it onto the land acquired on June 2 4 The company paid $3,000 cash for the premium on an 18-month insurance po1icy. 5 The company completted and delivered a set of plans for a client and collected $6,200 cash. 6 The company purchased $20,e00 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $10,500. 7 The company completed $14,0e0 of engineering services for a client. This amount is to be received in 30 days. 8 The company purchased $1,150 of additional office equipment on credit. 9 The company completed engineering services for $22,e00 on credit. Jun. Jun. a long-term note payable for Jun. Jun. Jun. Jun. Jun. Jun. Jun. Jun. 10 The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent cost must be paid within 30 days. Jun. 12 The company collected $7,0ee cash in partial payment from the client described billed on June 9. 14 The company paid $1,200 cash for wages to a drafting assistant. Jun. Jun. 17 The company paid $1,150 cash to settle the account payable created in on June 8. 20 The company paid $925 cash for minor maintenance of its drafting uapen Jun. Jun. Jun. 28 The company paid $1,200 cash for wages to a drafting assistant. Jun. 29 The company paid $2,500 cash for advertisenents on the web during June. 23 The company paid $9,480 cash in dividends. St Retained Earnings Impact on Income Statement General Ledger General Journal Balance Sheet Trial Balance Requirement Equity Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions, entering the debits before the credits. Each transaction is automatically posted to the General Ledger and the Trial Balance as soon as you click "Record Entry". Show less & View journal entry worksheet View transaction list. Credit Debit Account Title Date No 100.000 Cash Jun 01 5 of 5 Next

 

Apr 07 2020 Read more Less More

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