Check my Jun. 2 The company purchased Land worth $60,000 for an office by paying $21,700 cash and signing . Long-tera note payable for $38,300. Jun. 2 The company purchased a portable building with $44,000 cash and moved it onto the land acquired on June 2. Jun 2 The company paid 39.600 cash for the premiun on a 15-month Insurance policy. Jun. 7 The company completed and delivered a set of plans for a client and collected $15,000 cash. Dun. 12 The company purchased $33,200 of additional drafting equipment by paying $20,500 cash and signing long-tern note payable Jun. 14 The company completed $31,600 of engineering services for a client, This amount is to be received in 30 days. Jun. 15 The company purchased $2,250 of additional office equipment on credit. Jun. 17 The company completed engineering services for $26, 400 on credit. Jun. 13 The company received a bill for rent of equipment that was used on a recently completed fob. The $2,400 rent cost must be paid within 30 days. Sun.20 The company collected $15,000 cash in partial payment from the client billed on June 14. Jun. 21 The company paid $1,600 cash for wages to a drafting assistant. Jun. 23 The company paid $2,250 cash to settle the account payable created on June 15. Jun. 24 The company paid $1,475 cash for winor maintenance of its drafting equipment. Jun. 26 Tony Turner withdrew $9.920 cash from the company for personal use. Jun. 28 The company paid $1,600 cash for wages to a drafting assistant Sun. The company paid $3,360 cash for advertisements on the web during Sune. Descriptions of items that require adjusting entries on June 30, 2019 follow a) The company has completed, but not yet billed. S14,800 of engineering services for a client b) Straight-line depreciation on the office equipment, assuming a 5-year life and a $2,650 salvage value, is $260 per month c) Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $19,200 salvage value, is $1600 per month d) Straight-line depreciation on the building, assuming a 25-year life and a $8.000 salvage value is $120 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 $160. b) The drafting assistant is paid S1600 for a day work week 2 days wages have been incurred but are unpaid as of month-end, Tecor ILY View transaction list Journal entry worksheet The company has completed, but not yet billed, $14,800 of engineering services for a client. Prepare the required adjusting entry, if any. Note: Enter debits before credits, Date Credit Account Title Accounts receivable Engineering fees earned Debit 14.800 Jun 30 14,800 View transaction list Journal entry worksheet Straight-line depreciation on the office equipment, assuming a 5-year life and a $2,650 salvage value, is $260 per month. Prepare the required adjusting entry, if any. Note: Enter debits before credits. Date Credit Debit 2.590 Jun 30 Account Title Depreciation expense - Office equipment Accumulated depreciation - Office equipment 2.590 Book Straight-line depreciation on the drafting equipment, assuming a 5-year life and a $19,200 salvage value, is $1,600 per month. Prepare the required adjusting entry, if any. Note: Enter debits before credits. Date Account Title Debit Credit Jun 30 Journal entry worksheet 1 2 3 ALLA 4 5 6 7 Straight-line depreciation on the building, assuming a 25-year life and a $8,000 salvage value, is $120 per month. Prepare the required adjusting entry, if any. Note: Enter debits before credits. Date Account Title Debit Credit Jun 30 dows e TUCUTU eny View transaction list Journal entry worksheet The balance in prepaid insurance represents a 15-month policy that went into effect on June 1. Prepare the required adjusting entry, if any. Note: Enter debits before credits. Date Account Title Debit Credit Jun 30 View transaction list Journal entry worksheet 1 Windows e View transaction list Journal entry worksheet
