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\begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline Total equity & \\ \hline Total liabilities and equity & \\ \hline \end{tabular} ARACEL ENGINEERING Income Statement For Month Ended June 30, 2021 \begin{tabular}{l} \hline \multicolumn{1}{|l|}{ Transaction } \\ June1JennaAracel,theowner,invested$100,000cash,officeequipmentwithavalueof$5,000,and$60,000ofdraftingequipmenttolaunchthecompanyinexchangeforcommonstock. June 2 The company purchased land worth $49,000 for an \\ office by paying $6,300 cash and signing a long-term note \\ payable for $42,700. \end{tabular} \begin{tabular}{|l|l|l|} ARACEL ENGINEERING \\ Balance Sheet \\ June 30, 2021 \\ \hline \end{tabular} June 1 Jenna Aracel, the owner, invested $100,00 cash, office equipment with a value of $5,000, and $6,000 of drafting equipment to launch the company in exchange for common stock. June 2 The company purchased land worth $49, ebe for an office by paying $6,300 cash and signing a long-term note payable for 542,700 . June 3 The company purchased a portable building, with $55,00e cash and moved it onto the land acquired on June 2 . June 4 The company paid $3,000 cash for the premium on an 18 -month insurance policy. June 5 The company completed and delivered a set of plans for a client and collected 56,200 cash. June 6 The comprany purchased $2, 000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $10,500. June 7 The company completed $14,000 of engineering services for a client. This amount is to be received in 35 days. June 8 The company purchased $1,150 of additional office equipment on credit. June 9 The company completed engineering services for $22, eee on credit. June 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. June 12 The company collected 57,000 cash in partial payment from the client billed on June 9. June 14 The company paid $1,260 cash for wages to a drafting assistant. June 17 The company paid $1,150 cash to settle the account payable created in on June 8. June 28 The company paid $925 cash for minor maintenance of its drafting equipment. june 23 The conpany paid $9,480 cash in dividends. June 28 The company paid $1,200 cash for wages to a drafting assistant. June 29 The company paid $2,568 cash for advertisements on the web during June

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