Fundamental Accounting Principles, 24th Edition 89 Chapter 2 Anslysing and Recording Transactions Nuncio Consulting completed the following transactions during June. a. Armand Nuncio, the owner, invested $35,000 cash along with office equipment valued at $11,000 in the new company. b. The company purchased land valued at $7,500 and a building valued at $40,000. The purchase is paid with $15,000 cash and a long-term note payable for $32,500, c. The company purchased $500 of office supplies on credit. d. A. Nuncio invested his personal automobile in the company. The automobile has a value of $8,000 and is to be used exclusively in the business. e. The company purchased $1,200 of additional office equipment on credit. f. The company paid $1,000 cash salary to an assistant. g. The company provided services to a client and collected $3,200 cash. h. The company paid $540 cash for this month's utilities. 1. The company paid $500 cash to settle the payable created in transaction c J. The company purchased $3,400 of new office equipment by paying $3,400 cash. k. The company completed $4,200 of services for a client, who must pay within 30 days. 1. The company paid $1,000 cash salary to an assistant. m. The company received $2,200 cash in partial payment on the receivable created in transaction k n. A. Nuncio withdrew $1,100 cash from the company for personal use. Required Problem 2-48 Recording transections: posting to ledger 79 preparing a trial belence C3 A1 P1 P2 1. Prepare general journal entries to record these transactions (use account titles listed in part 2). 2. Open the following ledger accounts-their account numbers are in parentheses (use the balance col- umn format): Cash (101); Accounts Receivable (106); Office Supplies (108); Office Equipment (163); Automobiles (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); A. Nuncio, Capital (301); A. Nuncio, Withdrawals (302); Fees Earned (402); Salaries Expense (601); and Utilities Expense (602). Post the journal entries from part 1 to the ledger accounts and enter the balance after each posting. 3. Prepare a trial balance as of the end of June. Check Ending balances Cash $17,880, Office Equipment $15.0 balence to S The accounting records of Tama Co. show the following assets and liabilities as of December 31, 2018 Problem 2-58 and 2019. Computing net incor analysis