d ces Griffin Engineering completed the following transactions in the month of June. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. Jun. 1 Rita Griffin, the owner, invested $130,000 cash, office equipment with a value of $12,500, and $75,000 of drafting equipment to launch the company. Jun. 2 The company purchased land worth $56,500 for an office by paying $16,800 cash and signing a long-term note payable for $39,700. 3 The company purchased a portable building with $47,500 cash and moved it onto the land acquired on June 2. Jun. 4 The company paid $7,500 cash for the premium on an 18-month insurance policy. Jun. 5 The company completed and delivered a set of plans for a client and collected $12,200 cash. 6 The company purchased $29,000 of additional drafting equipment by paying $17,000 cash and signing a long-term note payable for $12,000. 7 The company completed $26,000 of engineering services for a client. This amount is to be received in 30 days. Jun. 8 The company purchased $1,900 of additional office equipment on credit. 9 The company completed engineering services for $25,000 on credit. Jun. 10 The company received a bill for rent of equipment that was used on a recently completed job. The $2,050 rent cost must be paid within 30 days. Jun. 12 The company collected $13,000 cash in partial payment from the client billed on June 9. Jun. 14 The company paid $1,800 cash for wages to a drafting assistant. Jun. 17 The company paid $1,900 cash to settle the account payable created in on June 8. Jun. 20 The company paid $1,300 cash for minor maintenance of its drafting equipment. Jun. 23 Rita Griffin withdrew $9,780 cash from the company for personal use. Jun. 28 The company paid $1,800 cash for wages to a drafting assistant. Jun. 29 The company paid $3,100 cash for advertisements on the web during June. Requirement General Journal General Ledger Trial Balance Income Statement St Owners E General Journal Tab - For each transaction, prepare the required journal entry on the credits. Each journal entry is automatically posted to the General Ledger. General Ledger Tab - To see the detail of all transactions that affect a specific accou point in time, click on the General Ledger tab. Abnormal balances appear in parenth underlying journal entry. Trial Balance Tab - A trial balance lists each account from the General Ledger, along Total debits should always equal total crdits. If your trial balance doesn't balance, iournal tah Prey 1 of 2 Next > equirement General Journal General Ledger Trial Balance Income Statement St Owners Equity ery journal entry must keep the accounting equation in balance. Prepare the journal en fore the credits. Each transaction is automatically posted to the General Ledger and th View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 17 Jun. 1) Rita Griffin, the owner, invested $130,000 cash, office equipment with a value of $12,500, and $75,000 of drafting equipment to launch the company. Note: Enter debits before credits. Date Jun 01 Account Title Debit Credit Record entry Clear entry View genera < Requirement General Ledge Jun. Jun. 5 The company completed and delivered a set of plans for a client and collected $12,200 cash. 6 The company purchased $29,000 of additional drafting equipment by paying $17,000 cash and signing a long-term note payable for $12,000. Jun. 7 The company completed $26,000 of engineering services for a client. This amount is to be received in 30 days. Jun. 8 The company purchased $1,900 of additional office equipment on credit. Jun. 9 The company completed engineering services for $25,000 on credit. Jun. 10 The company received a bill for rent of equipment that was used on a recently completed job. The $2,050 rent cost must be paid within 30 days. Jun. 12 The company collected $13,000 cash in partial payment from the client billed on June 9. Jun. 14 The company paid $1,800 cash for wages to a drafting assistant. Jun. 17 The company paid $1,900 cash to settle the account payable created in on June 8. Jun. 20 The company paid $1,300 cash for minor maintenance of its drafting equipment. Jun. 23 Rita Griffin withdrew $9,780 cash from the company for personal use. Jun. 28 The company paid $1,800 cash for wages to a drafting assistant. Jun. 29 The company paid $3,100 cash for advertisements on the web during June. Requirement General Journal General Ledger Trial Balance Income Statement St Owners E The income statement reports the change in equity attributable to the operation of t Using the dropdown buttons, select the financial statement elements and account t The account balances will automatically populate. Did the company report net incom Griffin Engineering Income Statement For Month Ended June 30, 2019 Prev 1 of 2 Next > -n.com Summative Assessment [due... i Saved Jun. 29 The company paid $3,100 cash for advertisements on the web during June. Help Save & Exit Submit Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet Impact on Equity Using the dropdown buttons, select the item that accurately describes the values that either increase or decrease the owner's capital balance Griffin Engineering Statement of Owner's Equity For Month Ended June 30, 2019 R. Griffin, Capital, June 1, 2019 0 Add: Less: R. Griffin, Capital, June 30, 2019 < Income Statement Balance Sheet > drafting equipment. ice of its Jun. 23 Rita Griffin withdrew $9,780 cash from the company for personal use. Jun. 28 The company paid $1,800 cash for wages to a drafting assistant. Jun. 29 The company paid $3,100 cash for advertisements on the web during June. Requirement General Journal General Ledger Trial Balance Income Statement St Owners E Using the dropdown buttons, select the financial statement elements and account titles to b balances will automatically populate. Griffin Engineering Balance Sheet June 30, 2019 < St Owners Equity Impact on Equit Transaction Rita Griffin, the owner, invested $130,000 cash, office equipment with a value of $12,500, and $75,000 of drafting equipment to launch the company. The company purchased land worth $56,500 for an office by paying $16,800 cash and signing a long-term note payable for $39,700. The company purchased a portable building with $47,500 cash and moved it onto the land acquired on June 2. The company paid $7,500 cash for the premium on an 18- month insurance policy. The company completed and delivered a set of plans for a client and collected $12,200 cash. The company purchased $29,000 of additional drafting equipment by paying $17,000 cash and signing a long-term note payable for $12,000. The company completed $26,000 of engineering services for a client. This amount is to be received in 30 days. The company purchased $1,900 of additional office equipment on credit. The company completed engineering services for $25,000 on credit. The company received a bill for rent of equipment that was used on a recently completed job. The $2,050 rent cost must be paid within 30 days. The company collected $13,000 cash in partial payment from the client billed on June 9. The company paid $1,800 cash for wages to a drafting assistant. The company paid $1,900 cash to settle the account payable created in on June 8. The company paid $1,300 cash for minor repairs of its drafting equipment. Rita Griffin withdrew $9,780 cash from the company for personal use. The company paid $1,800 cash for wages to a drafting assistant. The company paid $3,100 cash for advertisements on the web during June. Total change in equity Impact on Equity < Balance Sheet Impact on E 000 cash, office nd $75,000 of drafting $56,500 for an office by ong-term note payable building with $47,500 uired on June 2. he premium on an 18- red a set of plans for a additional drafting and signing a long-term engineering services ceived in 30 days. additional office ng services for $25,000 t of equipment that was The $2,050 rent cost sh in partial payment wages to a drafting ettle the account minor repairs of its om the company for wages to a drafting advertisements on the Impact on Equity < Balance Sheet Impact on Equity > Drove www