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 Jun 1 Jenna Aracel. the ener, Invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock. Jun 2 The company purchased land worth $49,000 for an office by paying $6,00 cash and signing a long-term note payable for 542,700. the company purchased a portable building with $55,000 cash and moved it onto the land acquired on June 2. + The company paid 19,000 cash for the premium on an 18-month insurance policy. un The company completed and delivered a set of plans for a client and collected $6,200 cash. Jun 6. The company purchased $20.000 of additional drafting equipment by paying $9.500 cash and signing a long-term note payable for $10.500 Jun 7 The company completed $10,000 of engineering services for a client. This wount is to be received in 30 days The company purchased $1,150 of additional office equipment on credit. Jun. 9 The company completed engineering services for $22.000 an credit Jun 10 The company received bill for rent of wipent that was used on a recently completed fob. The $1,333 rent cost must be paid within 30 days. Jun 13 The company collected 57.000 cash in partial payment from the client ble on June 9. Jun. 14. The company paid $1,200 cash for wages to a drafting assistant Jun 17 The company paid $1,150 cash to settle the account payable created in on Sune B. Jun,20 The company paid 1925 cash for nor antenance of draftinnen 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 Jun 1 Jenna Aracel. the ener, Invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock. Jun 2 The company purchased land worth $49,000 for an office by paying $6,00 cash and signing a long-term note payable for 542,700. the company purchased a portable building with $55,000 cash and moved it onto the land acquired on June 2. + The company paid 19,000 cash for the premium on an 18-month insurance policy. un The company completed and delivered a set of plans for a client and collected $6,200 cash. Jun 6. The company purchased $20.000 of additional drafting equipment by paying $9.500 cash and signing a long-term note payable for $10.500 Jun 7 The company completed $10,000 of engineering services for a client. This wount is to be received in 30 days The company purchased $1,150 of additional office equipment on credit. Jun. 9 The company completed engineering services for $22.000 an credit Jun 10 The company received bill for rent of wipent that was used on a recently completed fob. The $1,333 rent cost must be paid within 30 days. Jun 13 The company collected 57.000 cash in partial payment from the client ble on June 9. Jun. 14. The company paid $1,200 cash for wages to a drafting assistant Jun 17 The company paid $1,150 cash to settle the account payable created in on Sune B. Jun,20 The company paid 1925 cash for nor antenance of draftinnen
