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help fast J. Aracel opened a business called Aracel Engineering and recorded the following transactions in its first month of operation June 1 ) Aracel,

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J. Aracel opened a business called Aracel Engineering and recorded the following transactions in its first month of operation June 1 ) Aracel, the mer, invested $300,000 h, office it with value of $5.000, d. dating went to launch the company June > The company purchased land worth $49,000 for an office by paying Pune. The company purchased portable building with 35,000 cash and the June The company wid 11,000 cash for the presion 15th Insurance una The company completed and delivered a set of plans for det and June 12 The conany purchased $20,000 of additional drafting equipant by paying for #10,500 June 14 The company completed $14,000 of engineering services for a client. Theived June 15 The conany purchased $1,150 additional office went on credit June 17 The company completed engineering services for $22,000 on chest June 18 The company received bill for rent of equipment that was won recently completed the $1,333 punto the pall within 30 days June 20 The company collected $7.000 cash in partial payent from the client don June 14 June 21 The company paid $1,200 och for was to a drafting assistant June 23 The company paid $1,150 cash to settle the account payable created on June 15. June 24 The company paid $425 cash for repairs June 260. Aracel withdrew $9.480 cash from the company for parconal use. Dune 2 The company paid $1,200 cash for wages to a drafting assistant June 30. The company paid $2,500 cash for advertisements 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, $6.000 of engineering services for a client b) Straight line depreciation on the office equipment, assuming a 5-year life and a $150 salvage value is $100 per month c) Straight-line depreciation on the drafting equipment, assuming a 5 year life and a $2.000 salvage value is $1300 per month d) Straight-line depreciation on the building, assuming a 25-year life and a $1,000 salvage value is $180 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 $75 g) The drafting assistant is paid $1,200 for a 5 day work week 2 days' wages have been incurred but are unpaid as of month end. Adjusting entry related to: a) Unbilled foes Impact on net Income b) Depreciation of office equipment c) Dopreciation of drafting equipment Account affecting the Income Statement Balance Sheet Engineering foos earned Accounts receivable Depreciation expense - Office Accumulated depreciation equipment Office equipment Depreciation expense - Drafting Accumulated depreciation - equipment Drafting equipment FAccumulated depreciation - Depreciation expense Building Building insurance expense Prepaid insurance interest expense Interest payable Wages expense Wages payable d) Depreciation of building e) Prepaid insurance f) Accrued interest 9) Unpaid wages $ (800) Net income before adjustments S (800) (100,0% Had the adjustments not been prepared, income would have been overstated by

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