balance sheet

June 1 T. yen, the owner. Invested 5158,000 cash, office equipment with a value of $19,500; and 589,000 of drafting equipment te launch the company June 2 The company purchased land worth $63,500 for an office by paying $26,600 cash and gring a note payable for $36,900. June 2 The company purchased portable building with $40,500 cash and moved it onto the land acquired on June 2. June 2 The company paid $11,700 cash for the premium on a 15-month Insurance policy: June 7 The company completed and delivered a set of plans for a client and collected $17,000 cash. June 12 The company purchased $37,460 of additional drafting equipment by paying $24,000 cash and signing payable for $13,400. Jone 14 The company completed 597,200 of engineering services for a client. This amount is to be received in 30 days. Sune 15 The company purchased $2.600 of additional office equipment on credit. June 17 The company completed engineering services for $27,000 on credit. June 16 The company received a bill for rent of equipment that was used on a recently completed job. The $2,750 rent cost must be June 20 The company collected $18,000 cash in partial payment from the client billed on June 14. June 21 The company paid $2,000 cash for wages to a drafting assistant June 23 The company paid $2,600 cash to settle the account payable created on June 15. June 24 The company paid $1,650 cash for repairs. June 26 Ti Nguyen withdrew $10,00 cash from the company for personal use. Sune 26 The company paid $2,000 cash for wages to drafting assistant. June 30 The company paid $3,660 cash for advertisements on the web during June. Descriptions of items that require adjusting entries on June 30.2021, follow aj The company has completed, but not yet billed, $17.600 of engineering services for a client b) Straight-line depreciation on the office equipment, assuming a 5 year life and a $2,300 salvage value is $330 per month c) Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $12.400 salvage value is $1,900 per month d) Straight-line depreciation on the building, assuming a 25-year life and a $1,500 salvage value is $130 per month e) The balance in prepaid insurance represents a 15-month policy that went into effect on June 1 f) Accrued interest on the long-term note payable is $190. g) The drafting assistant is paid $2,000 for a 5-day work week 2 days' wages have been incurred but are unpaid as of month end. NGUYEN ENGINEERING Balance Sheet June 30, 2021 ASSETS 23 $ Current assets Cash Accounts receivable Prepaid insurance 69,630 64,000 10,730 0 $ 144,360 Total current assets Plant assets 0 144,360 S LIABILITIES AND EQUITY S 2.750 Liabilities: Accounts payable Wages payable Interest payable Long-term notes payable 800 0 50,300 0 53,850 Total liabilities Equity T Nguyen, Capital Total liabilities and equity S 340,650 394,500