G. Taylor, opened a business called Taylor Engineering and recorded the following transactions in its first month of operations. June 16 . Taylor, the owner, invested $126,000 cash, office equipment with a value of $11,500, and $73, 800 of drafting equipaent to launch the company. June 2 The company purchased land worth $55,500 for an office by paying $15,4e0 cash and 5 igning a note payable for June 2 The company purchased a portable building with $48,500 cash and moved it onto the tand acquired on June 2 . June 2 The company paid $6,960 cash for the premiun on a 15 -month insurance policy. June 7 The company conpleted and delivered a set of plans for a client and collected 511 , 400 cash. June 12 The company purchased $27,800 of additional drafting equipnent by paying $16,000 cash and 5 igning a payable for June 14 The cospany completed $24,400 of engineering services for a client. This asount is to be received in 30 days. June 15 The company purchased $1,800 of additional office equipment of credit. June 17 The company conpleted engineering services for $24,68 on creait. June 18 The company received a bil1 for rent of equipment that was used on a recently completed job. The 51 , 950 rent cost must be paid within 30 days. June 20 The company collected $12,200 cash in partial paytent fron the client bithed on June 14. June 21 The company paid $1,800 cash for wages to a drafting assistant. June 23 The company paid $1,808 cash to settle the account payable created on June 15. June 24 The conpany paid $1,250 cash for repairs. June 26G. Taylor withdrew 59,740 cash fron the company for personal use. June 28 The company paid $1,806 cash for wages to a drafting assistant. June 30 The company paid $3,020 cash for advertisenents on the web during June. Descriptions of items that require adjusting entries on June 30,2021 , follow. a) The company has completed, but not yet billed, $11,200 of engineering services for a client. b) Straight-line depreciation on the office equipment, assuming a 5 year life and a $3,100 salvage value, is $170 per month. c) Straight-line depreciation on the drafting equipment, assuming a 5 -year life and a $10,800 salvage value, is $1,500 per month. d) Straight-line depreciation on the building, assuming a 25 -year life and a $9,500 salvage value, is $130 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 $130. 9) The drafting assistant is paid $1,800 for a 5 -day work week. 2 days' wages have been incurred but are unpaid as of month-end. General Journal tab - For each transaction, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to vlew the unadjusted or adjusted balances. Trial Balance tab - You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs. Income Statement tab - Use the drop-downs to select the accounts properly inc ided on the income statement. The unadjusted or adjusted balances will appear for each account, based on your selection. Statement of Owner's Equity tab - The unadjusted or adjusted balances will appear for each account, based on your selection. Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Impact on Income tab - For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the dropdown.)