Check my work Doints Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $175,000 cash, office equipment with a value of $5,500, and $61,000 of drafting equipment to launch the company in exchange for common stock b. The company purchased land worth $56,000 for an office by paying $9,000 cash and signing a long-term note payable for $47,000. c. The company purchased a portable building with $59,000 cash and moved it onto the land acquired in b. d. The company paid $4,100 cash for the premium on an 18-month insurance policy e. The company completed and delivered a set of plans for a client and collected $8,900 cash. f. The company purchased $21,000 of additional drafting equipment by paying $10,600 cash and signing a long-term note payable for $10,400. g. The company completed $15,500 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,950 of additional office equipment on credit. L. The company completed engineering services for $24,000 on credit. J. The company received a bill for rent of equipment that was used on a recently completed job. The $1.462 rent cost must be paid within 30 days k. The company collected $9,000 cash in partial payment from the client described in transaction L The company paid $1,300 cash for wages to a drafting assistant m. The company paid $1.950 cash to settle the account payable created in transaction n. The company paid $1,120 cash for minor maintenance of its drafting equipment. o. The company paid a $10,370 cash dividend p. The company paid $1,800 cash for wages to a drafting assistant. 4. The company paid $2,800 cash for advertisements on the Web during June Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101: Accounts Receivable (106): Prepaid Insurance (108) Office Equipment (163); Drafting Equipment (164) Building (170): Land (172: Accounts Payable (201): Notes Payable (250) Common Stock (307): Dividends (319) Engineering Fees Eamed (402): Wages Expense (609: Equipment Rental Expense (602): Advertising Expense (603), and Repairs Expense (604). 2. Post the journal entries from part 1 to the ledger accounts 3. Prepare a trial balance as of the end of June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Post the journal entries from part 1 to the ledger accounts. 101: Cash Debit Credit 106 Accounts Receivable Dobie Crode Transaction Balance Transaction Balance ARACEL ENGINEERING Trial Balance June 30 Debit Credit 6.5 points eBook Print References Totals $ 0 $ Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare general Journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). Book Show less References View transaction et View journal entry worksheet No Transaction Account Title Debit 175.000 Credit Office equipment Drafting equipment Common stock 61.000 51.000 Required 2 >
