5 s In June, current year, Wendy Winger organized a corporation to provide aerial photography services. The company, called Aerial Views, began operations immediately. Transactions during the month of June were as follows. June 1 The corporation issued 60,000 shares of share capital to Wendy Winger in exchange for $60,000 cash. June June 2 Purchased a plane from Utility Aircraft for $220,000. Made a $40,000 cash down payment and issued a note payable for the remaining balance. 4 Paid Woodrow Airport $2,500 to rent office and hangar space for the month. June 15 Billed customers $8,320 for aerial photographs taken during the first half of June. June 15 Paid $5,000 in salaries earned by employees during the first half of June.. June 18 Paid Hannigan's Hangar $1,890 for maintenance and repair services on the company plane. June 25 Collected $4,910 of the amounts billed to customers on June 15. Print June 30 Billed customers $16,450 for aerial photographs taken during the second half of the month. June 30 Paid $6,000 in salaries earned by employees during the second half of the month. Werences June 30 Received a $2,510 bill from Peatree Petroleum for aireraft fuel purchased in June. The entire amount is due July 10. June 30 Declared a $2,000 dividend payable on July 15. The account titles used by Aerial Views are Cash Accounts Receivable : Aircraft Notes Payable Accounts Payable Dividends Payable Share Capital Retained Earnings Dividends Aerial Photography Revenue Maintenance Expense Fuel Expense Salaries Expense Rent Expense Required: a. Analyze the effects that each of these transactions will have on the following six components of the company's financial statements for the month of June. Organize your answer in tabular form, using the column headings shown. Use I for increase, D for decrease, and < Prev 5 of 5 Next > Google Translate Learner signment 10 5 ints Print Required: Saved Help Save & Exit Submit a. Analyze the effects that each of these transactions will have on the following six components of the company's financial statements for the month of June. Organize your answer in tabular form, using the column headings shown. Use I for increase, D for decrease, and NE for no effect. The June 1 transaction is provided for you. b. Prepare journal entries for each of the above transactions. c. Post each transaction to the appropriate ledger accounts. d. Prepare a trial balance dated June 30, current year. e. Using figures from the trial balance prepared in part d, compute total assets, total liabilities, and equity. Complete this question by entering your answers in the tabs below. References Required A Required B Required C Required D Required E Analyze the effects that each of these transactions will have on the following six components of the company's financial statements for the mont answer in tabular form, using the column headings shown. Use I for increase, D for decrease, and NE for no effect. The June 1 transaction is pre Income Statement Date Revenue Expenses 4 June 1 NE NE June 2 June 41 June 15 June 15 June 18 NE Profit Statement of Financial Position Assets Liabilities + Equity NE Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Analyze the effects that each of these transactions will have on the following six components of the company's financial statements for the mon answer in tabular form, using the column headings shown. Use I for increase, D for decrease, and NE for no effect. The June 1 transaction is pr Income Statement Date Revenue Expenses June 1 NE NE June 2 June 4 Profit NE Statement of Financial Position Assets Liabilities + Equity NE June 15 June 15 June 18 June 25 June 30 June 30 June 30 June 30 Required A Required B > Save & Exit Prepare Journal entries for each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 3 4 5 6 7 11 Record issue of share to Wendy Winger. Note: Enter debits before credits. Date June 01 General Journal Debit Credit Clear entry Record entry View general journal < Prev 5 of 5 Next Submit Date Debit Cash Saved Help Save & Exit Submit Accounts Receivable. Credit Balance Date Debit Credit Balance Aircraft Notes Payable Date Debit Credit Balance Date Debit Credit Balance + Accounts Payable Dividends Payable Date Debit Credit Balance Date Debit Credit Balance Share Capital Date Debit Date Saved Help Save & Exit Submit Dividends Credit Balance Date Debit Credit Balance Aerial Photography Revenue. Debit Maintenance Expense Credit Balance Date Debit Credit Balanc Fuel Expense Salaries Expense Date Debit Credit Balance Date Debit Credit Balance Date Rent Expense Debit Credit Balance + AERIAL VIEWS Trial Balance June 30, Current Year Debit Credit t Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E ences Using figures from the trial balance prepared in part d, compute total assets, total liabilities, and equity. Total assets Total liabilities Total (shareholders') equity < Required D Required E>