cture.com/courses/5085/assignments/ Problem 2-2A Preparing and posting journal entries; preparing a trial balance c3 c4@A11 P2 Aracel Engineering completed the following transactions in the month of June. 2. 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. b. 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. c. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. d. The company paid $3,000 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 $6,200 cash. f. The company purchased $20,000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $10,500. Page 75 8. The company completed $14,000 of engineering services for a client. This amount is to be received in 3o days. h. The company purchased $1,150 of additional office equipment on credit. 1. The company completed engineering services for $22,000 on credit. 3. 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. k. The company collected $7,000 cash in partial payment from the client described in transaction g. 1. The company paid $1,200 cash for wages to a drafting assistant m. The company paid $1,450 cash to settle the account payable created in transaction h. n. The company paid $925 cash for minor maintenance of its drafting equipment o Jenna Aracel withdrew $9480 cash from the company for personal use. p. The company paid $1,000 cash for wages to a drafting assistant. 4. The company paid $2,500 cash for advertisements on the web during June. Required 1. Prepare general journal entries to record these transactions (use the account titles listed in part). 2. Open the following ledger accounts-their account numbers are in parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); J. Aracel, Capital (301); J. Aracel, Withdrawals (302); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense advertising Expensesland Repairs Eames 604). Post the journal e to search Problem 2-2A pages 74-75. Complete the following: A) Create a set of t-accounts from the accounts listed in Step 2 B) Record the transactions in a general journal (use a chart also if that helps you) C) Post the transactions to t-accounts D) Calculate ending balance for each t-account E) Prepare a trial balance F) Prepare and Income Statement, Statement of Owner's Equity, and Balance Sheet Problem 2-2A Preparing and posting journal entries, preparing a tiel balance cap Aracal Engineering completed the following transactions in the mouth of June. a.Jenna Aracel, the owner, invested $100.000 cash, office equipment with a value of $5.000, and 360.000 of drafting equipment to launch the company. b. The company purchased land worth $49.000 for an office by paying 36,300 cash and signing a long term note payable for 502,700 c. The company purchased a portable building with 55.co cash and moved it onto the land acquired in b. d. The company paid $3.000 cash for the premium cans-month insurance policy. e. The company completed and delivered a set of plans for a client and collected $6.000 cash 1. The company purchased $20,000 of additional drafting equipment by pesing 9.500 cash and signing long-term note payable for $10.500 Pas The company completed $14.000 of engineering services for a diet. This mount is to be received in go days h. The company purchased $1.450 of additional lice equipment on credit 1. The company completed engineering service for $22.00 on credit J. The company received a bill for rent of equipment that was used on a Roly completed job. The $1.333 etcost must be paid within go days k. The company collected $7.000 cash in partial payment from the client described in transactions 1. The company paid $1.000 cash for wages to a drafting assistant m. The company paid $1,150 cash to settle the account payable created in transaction n. The company paid ag cash for minor maintenance of its drafting equipment o. Jasa Arace with $9.480 cash from the company for personal use. p. The company paid $1,200 cash for wages to a drafting assistant 4. The company paid Sagoo cash for advertisements on the web during June Required 1. Prepare gal journal entries to record these transactions (use the account title isted in part) 2. Open the following lediger accounts-their account numbers are in partes use the balance column format: Cash (100) Accounts Receivable (106). Prepaid Insurance (108) Office Equipments Drafting Equipment Building (270Land Accounts Payable (Roots Payable lageka. Aracel Capital (900: J.AracelWithdrawals (goal Engineering Fees Eased Coal War Epsou: Equipment Rental Expense (602) Advertising Expense (Gogland Repairs Expense (604). Post the journal entries from parts to the accounts and enter the balance after each posting 3. Prepare a trial balance of the end of June. cture.com/courses/5085/assignments/ Problem 2-2A Preparing and posting journal entries; preparing a trial balance c3 c4@A11 P2 Aracel Engineering completed the following transactions in the month of June. 2. 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. b. 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. c. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. d. The company paid $3,000 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 $6,200 cash. f. The company purchased $20,000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $10,500. Page 75 8. The company completed $14,000 of engineering services for a client. This amount is to be received in 3o days. h. The company purchased $1,150 of additional office equipment on credit. 1. The company completed engineering services for $22,000 on credit. 3. 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. k. The company collected $7,000 cash in partial payment from the client described in transaction g. 1. The company paid $1,200 cash for wages to a drafting assistant m. The company paid $1,450 cash to settle the account payable created in transaction h. n. The company paid $925 cash for minor maintenance of its drafting equipment o Jenna Aracel withdrew $9480 cash from the company for personal use. p. The company paid $1,000 cash for wages to a drafting assistant. 4. The company paid $2,500 cash for advertisements on the web during June. Required 1. Prepare general journal entries to record these transactions (use the account titles listed in part). 2. Open the following ledger accounts-their account numbers are in parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); J. Aracel, Capital (301); J. Aracel, Withdrawals (302); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense advertising Expensesland Repairs Eames 604). Post the journal e to search Problem 2-2A pages 74-75. Complete the following: A) Create a set of t-accounts from the accounts listed in Step 2 B) Record the transactions in a general journal (use a chart also if that helps you) C) Post the transactions to t-accounts D) Calculate ending balance for each t-account E) Prepare a trial balance F) Prepare and Income Statement, Statement of Owner's Equity, and Balance Sheet Problem 2-2A Preparing and posting journal entries, preparing a tiel balance cap Aracal Engineering completed the following transactions in the mouth of June. a.Jenna Aracel, the owner, invested $100.000 cash, office equipment with a value of $5.000, and 360.000 of drafting equipment to launch the company. b. The company purchased land worth $49.000 for an office by paying 36,300 cash and signing a long term note payable for 502,700 c. The company purchased a portable building with 55.co cash and moved it onto the land acquired in b. d. The company paid $3.000 cash for the premium cans-month insurance policy. e. The company completed and delivered a set of plans for a client and collected $6.000 cash 1. The company purchased $20,000 of additional drafting equipment by pesing 9.500 cash and signing long-term note payable for $10.500 Pas The company completed $14.000 of engineering services for a diet. This mount is to be received in go days h. The company purchased $1.450 of additional lice equipment on credit 1. The company completed engineering service for $22.00 on credit J. The company received a bill for rent of equipment that was used on a Roly completed job. The $1.333 etcost must be paid within go days k. The company collected $7.000 cash in partial payment from the client described in transactions 1. The company paid $1.000 cash for wages to a drafting assistant m. The company paid $1,150 cash to settle the account payable created in transaction n. The company paid ag cash for minor maintenance of its drafting equipment o. Jasa Arace with $9.480 cash from the company for personal use. p. The company paid $1,200 cash for wages to a drafting assistant 4. The company paid Sagoo cash for advertisements on the web during June Required 1. Prepare gal journal entries to record these transactions (use the account title isted in part) 2. Open the following lediger accounts-their account numbers are in partes use the balance column format: Cash (100) Accounts Receivable (106). Prepaid Insurance (108) Office Equipments Drafting Equipment Building (270Land Accounts Payable (Roots Payable lageka. Aracel Capital (900: J.AracelWithdrawals (goal Engineering Fees Eased Coal War Epsou: Equipment Rental Expense (602) Advertising Expense (Gogland Repairs Expense (604). Post the journal entries from parts to the accounts and enter the balance after each posting 3. Prepare a trial balance of the end of June