can you help with the balance sheet and impact on income?

Jenna Aracel opened a business called Aracel Engineering and recorded the following transactions in its first month of operations. Jun. Jun. 1 Jenna Aracel, the owner, 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 $6,300 cash and signing a long-term note payable for $42,700. 2 The company purchased a portable building with $55,000 cash and moved it onto the land acquired on June 2. Jun. 2 The company paid $3,000 cash for the premium on a 15-month insurance policy. Jun. 7 The company completed and delivered a set of plans for a client and collected $6,200 cash. Jun. 12 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. 14 The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days. Jun. 15 The company purchased $1,150 of additional office equipment on credit. Jun. 17 The company completed engineering services for $22,000 on credit. Jun. 18 The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent be paid within 30 days. Jun. 20 The company collected $7,000 cash in partial payment from the client billed on June 14. Jun. 21 The company paid $1,200 cash for wages to a drafting assistant. Jun. 23 The company paid $1,150 cash to settle the account payable created on June 15. Jun. 24 The company paid $925 cash for minor maintenance of its drafting equipment. Jun. 26 The company paid $9,480 cash in dividends. Jun. 28 The company paid $1,200 cash for wages to a drafting assistant. Jun. 30 The company paid $2,500 cash for advertisements on the web during June. cost Descriptions of items that require adjusting entries on June 30, follow. a) The company has completed, but not yet billed, $6,000 of engineering services for a client. b) Straight-line depreciation on the office equipment, assuming a 5-year life and a $150 salvage value, is $100 per month. c) Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $2,000 salvage value, is $1,300 per mont d) Straight-line depreciation on the building, assuming a 25-year life and a $1,000 salvage value, is $180 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 $75. g) The drafting assistant is paid $1,200 for a 5-day work week. 2 days' wages have been incurred but are unpaid as of month- Adjusted Adjusting entry related to: a) Unbilled fees Account affecting the: Income Statement Balance Sheet Impact on net Income b) Depreciation of office equipment Depreciation expense - Office equipment c) Depreciation of drafting equipment d) Depreciation of building e) Prepaid insurance f) Accrued interest g) Unpaid wages $ O $ 0 Had the adjustments not been prepared, income would have been understated by 0 ARACEL ENGINEERING Balance Sheet June 30, 2019 ASSETS Current assets Accounts receivable $ 35,000 Prepaid insurance 2,800 Cash 22,945 0 Total current assets $ 60,745 Plant assets! 6,150 (100) 6,050 Office equipment Accumulated depreciation - Office equipment Office equipment, net Depreciation expense - Building Accumulated depreciation - Drafting equipment Drafting equipment, net 180 (1.300) (1.120) 0 12 Land 49.000 Land 49,000 Total plant assets 53,930 114,675 $ LIABILITIES AND EQUITY $ 1,333 Liabilities: Accounts payable Interest payable Wages payable 75 480 O 0 Total liabilities 1.888 Equity: Common stock 165,000 31,082 Retained earnings Total equity Total liabilities and equity 196.082 $ 197.970 Jenna Aracel opened a business called Aracel Engineering and recorded the following transactions in its first month of operations. Jun. Jun. 1 Jenna Aracel, the owner, 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 $6,300 cash and signing a long-term note payable for $42,700. 2 The company purchased a portable building with $55,000 cash and moved it onto the land acquired on June 2. Jun. 2 The company paid $3,000 cash for the premium on a 15-month insurance policy. Jun. 7 The company completed and delivered a set of plans for a client and collected $6,200 cash. Jun. 12 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. 14 The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days. Jun. 15 The company purchased $1,150 of additional office equipment on credit. Jun. 17 The company completed engineering services for $22,000 on credit. Jun. 18 The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent be paid within 30 days. Jun. 20 The company collected $7,000 cash in partial payment from the client billed on June 14. Jun. 21 The company paid $1,200 cash for wages to a drafting assistant. Jun. 23 The company paid $1,150 cash to settle the account payable created on June 15. Jun. 24 The company paid $925 cash for minor maintenance of its drafting equipment. Jun. 26 The company paid $9,480 cash in dividends. Jun. 28 The company paid $1,200 cash for wages to a drafting assistant. Jun. 30 The company paid $2,500 cash for advertisements on the web during June. cost Descriptions of items that require adjusting entries on June 30, follow. a) The company has completed, but not yet billed, $6,000 of engineering services for a client. b) Straight-line depreciation on the office equipment, assuming a 5-year life and a $150 salvage value, is $100 per month. c) Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $2,000 salvage value, is $1,300 per mont d) Straight-line depreciation on the building, assuming a 25-year life and a $1,000 salvage value, is $180 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 $75. g) The drafting assistant is paid $1,200 for a 5-day work week. 2 days' wages have been incurred but are unpaid as of month- Adjusted Adjusting entry related to: a) Unbilled fees Account affecting the: Income Statement Balance Sheet Impact on net Income b) Depreciation of office equipment Depreciation expense - Office equipment c) Depreciation of drafting equipment d) Depreciation of building e) Prepaid insurance f) Accrued interest g) Unpaid wages $ O $ 0 Had the adjustments not been prepared, income would have been understated by 0 ARACEL ENGINEERING Balance Sheet June 30, 2019 ASSETS Current assets Accounts receivable $ 35,000 Prepaid insurance 2,800 Cash 22,945 0 Total current assets $ 60,745 Plant assets! 6,150 (100) 6,050 Office equipment Accumulated depreciation - Office equipment Office equipment, net Depreciation expense - Building Accumulated depreciation - Drafting equipment Drafting equipment, net 180 (1.300) (1.120) 0 12 Land 49.000 Land 49,000 Total plant assets 53,930 114,675 $ LIABILITIES AND EQUITY $ 1,333 Liabilities: Accounts payable Interest payable Wages payable 75 480 O 0 Total liabilities 1.888 Equity: Common stock 165,000 31,082 Retained earnings Total equity Total liabilities and equity 196.082 $ 197.970