Check my Aracel Engineering completed the following transactions in the month of June. a. J. Aracel, the owner, invested $230,000 cash, office equipment with a value of $8,400, and $68,000 of drafting equipment to launch the company. b. The company purchased land worth $50,000 for an office by paying $9.400 cash and signing a note payable for $40,600. c. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. d. The company paid $4,300 cash for the premium on an 18-month insurance policy e. The company provided services to a client and collected $6,400 cash. f. The company purchased $23,000 of additional drafting equipment by paying $11,300 cash and signing a note payable for $11700. g. The company completed $16,500 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,550 of additional office equipment on credit 1. The company completed $25,000 of services for a customer on credit J. The company purchased $1,665 of TV advertising on credit k. The company collected $10,000 cash in partial payment from the client described in transaction g. 1. The company paid $1,900 cash for employee wages. m. The company paid $1,550 cash to settle the account payable created in transaction h. The company paid $1,005 cash for repairs 0. J. Aracel withdrew $9,230 cash from the company for personal use. p. The company paid $1,200 cash for employee wages. 9. The company paid $2,600 cash for advertisements on the Web during June Transaction a. Transaction e. 9 106: Accounts Receivable Debit Credit 16,500 25,000 6,500 k Balance 16,500 41,500 35,000 k. b. c. d. 4. 1. + 101: Cash Debit Credit 230,000 6,400 10,000 9,400 55,000 11,300 3,400 1,900 1,550 1,005 9,230 1,200 2,600 Balance 230,000 236,400 246,400 237,000 182,000 170,700 167,300 165,400 163,850 162,845 153,615 152,415 149,815 m. n. 0. P. 9 Transaction 108: Prepaid Insurance Debit Credit 4,300 Transaction Balance 4,300 d. 163: Office Equipment Debit Credit 8,400 1,550 a. Balance 8,400 9,950 h. UV 7.UU . VA WAV th 1,550 9,950 Transaction 164: Drafting Equipment Debit Credit 68.000 23,000 Transaction 170: Building Debit Credit 55,000 Balance 68,000 a Balance 55,000 C 91,000 35 172: Land Debit Credit Transaction Balance 50.000 b. Transaction m. 50,000 201: Accounts Payable Debit Credit 1.550 1.550 1,530 Balance (1.550) 0 h. 1.530 Transaction 250: Notes Payable Debit Credit 50,000 11,300 Transaction 301:J. Aracel, Capital Dobit Credit 306,400 Balance 50,000 61,300 Balance 306,400 b a. Transaction 302: J. Aracel, Withdrawals Debit Credit 9,230 Balance Transaction 0. 9,230 e. 403: Services Revenue Debit Credit 6,400 16,500 25,000 Balance 6,400 22,900 47.900 19 1. s Transaction Balance 601: Wages Expense Debit Credit 1,900 1.200 Transaction 603: Advertising Expense Debit Credit 2,600 Balance 2,600 9. 1.900 3,100 P. Transaction 604: Repairs Expense Debit Credit 1,005 Balance 1,005 in ARACEL ENGINEERING Trial Balance June 30 + Debit Credit $ 149,815 4,300 35,000 50,000 55,000 9,950 91,000 $ Cash Prepaid insurance Accounts receivable Land Building Office equipment Drafting equipment Accounts payable Notes payable J. Aracel, Capital J. Aracel, Withdrawals Services revenue Advertising expense Wages expense Repairs expense Totals 1,530 61,300 306,400 9,230 47,900 2,600 3,100 2,600 412,595 $ $ 417,130 BE
