Accounting $301$ EXTRA CREDIT $25$Add Back" Points

Due Date: No Later Than Thursday, December ${14}^{th}$

Baker Well Drilling, Inc. of Baker City, Oregon started business June $1,$

Dates and details of events and transactions are as follows.

$6/1$ Issued Common Stock for cash in the amount of $$150,000.$

$\frac{6}{2}$ Purchased a small building to be used as a shop. The price

was $$80,000$ : $$12,000$ paid with cash, the remaining balance was

a $5$ year Note Payable in the amount of $$68,000.$ The purchase

price of $$80,000$ was allocated to land in the amount of $$15,000$

and the remaining amount of $$65,000$ to the shop building. Loan

payments are made quarterly; the first payment is due on $9/2/23.$

$6/3$ A Super Heavy$-$Duty Ford Truck was purchased with special $"$No

Money Down" and $"$No Interest" through Ford Credit Corporation.

Purchase price was $$55,000$ and the first payment is due on $8/3/23.$

$6/4$ Well Drilling Equipment was purchased for $$18,500$ cash.

$6/4$ Prepaid a $12-$month insurance policy. The policy was effective

as of June $1^{st,}$ and cost $$3,540.$

$6/5$ Well Drilling Supplies were purchased on a $30-$day credit account

in the amount of $$2,865.$

$6/6$ Advertised in the weekly Baker City Farm News. Total cost was

$$1,110$ with payment due by July ${10}^{th}.$

$6/7$ Hired an employee at $$3,800$ per month, advising the newly hired

employee that pay day will be on the first business day of each month.Accounting $301$ EXTRA CREDIT $25$Add Back" Points

Due Date: No Later Than Thursday, December ${14}^{th}$

Baker Well Drilling, Inc. of Baker City, Oregon started business June $1,$

Dates and details of events and transactions are as follows.

$6/1$ Issued Common Stock for cash in the amount of $$150,000.$

$\frac{6}{2}$ Purchased a small building to be used as a shop. The price

was $$80,000$ : $$12,000$ paid with cash, the remaining balance was

a $5$ year Note Payable in the amount of $$68,000.$ The purchase

price of $$80,000$ was allocated to land in the amount of $$15,000$

and the remaining amount of $$65,000$ to the shop building. Loan

payments are made quarterly; the first payment is due on $9/2/23.$

$6/3$ A Super Heavy$-$Duty Ford Truck was purchased with special $"$No

Money Down" and $"$No Interest" through Ford Credit Corporation.

Purchase price was $$55,000$ and the first payment is due on $8/3/23.$

$6/4$ Well Drilling Equipment was purchased for $$18,500$ cash.

$6/4$ Prepaid a $12-$month insurance policy. The policy was effective

as of June $1^{st,}$ and cost $$3,540.$

$6/5$ Well Drilling Supplies were purchased on a $30-$day credit account

in the amount of $$2,865.$

$6/6$ Advertised in the weekly Baker City Farm News. Total cost was

$$1,110$ with payment due by July ${10}^{th}.$

$6/7$ Hired an employee at $$3,800$ per month, advising the newly hired

employee that pay day will be on the first business day of each month.