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I finished the 1st part, but I need help finishing the 2nd and 3rd part fully. Please help? Check my work mode: This shows
I finished the 1st part, but I need help finishing the 2nd and 3rd part fully. Please help?\
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 15 1.5 points Aracel Engineering completed the following transactions in the month of June. a. J. Aracel, the owner, invested $245,000 cash, office equipment with a value of $6,400, and $62,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $52,000 for an office by paying $8.600 cash and signing a note payable for $43.400. c. The company purchased a portable building with $54,000 cash and moved it onto the land acquired in b. d. The company paid $4,000 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $8,600 cash. f. The company purchased $21,000 of additional drafting equipment by paying $11,900 cash and signing a note payable for $9.100. g. The company completed $18.500 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,950 of additional office equipment on credit. I. The company completed $21,000 of services for a customer on credit. J. The company purchased $1,694 of TV advertising on credit. k. The company collected $8,000 cash in partial payment from the client described in transaction g. 1. The company paid $1,400 cash for employee wages. m. The company paid $1,950 cash to settle the account payable created in transaction h. n. The company paid $920 cash for repairs. o. The company paid a $10,920 cash dividend. p. The company paid $1,600 cash for employee wages. 9. The company paid $2,800 cash for advertisements on the Web during June. Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170): Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Services Revenue (403); Wages Expense (601); Advertising Expense (603); and Repairs Expense (604). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of June. Answer is not complete. Return to question 15 Required 1 Required 2 Required 3 1.5 points Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Services Revenue (403); Wages Expense (601); Advertising Expense (603); and Repairs Expense (604). No Tranasaction Account Title Credit 1 a Debit 245,000 6,400 62.000 Cash Office equipment Drafting equipment Common stock 313,400 2 2 b 52,000 Land Notes payable Cash ololo 43,400 8,600 3 C 54.000 Building Cash 54,000 4 d 4,000 Prepaid insurance Cash OOOOOO 4,000 5 e 8,600 Cash Services revenue 8,600 Return to question 15 6 f 21,000 Drafting equipment Cash 11,900 9,100 Notes payable 1.5 points 7 7 g 18,500 Accounts receivable Services revenue 18,500 8 8 OOOOOOOOOOO h Office equipment Accounts payable 1,950 1,950 9 i Accounls receivable 21,000 Services revenue 21,000 10 j 1,694 Advertising expense Accounts payable 1,694 11 k Cash 8,000 DO Accounts receivable 8.000 12 1 Wagos expense Cash olo 1,400 1,400 13 m Accounts payable Cash olc 1,950 1,950 14 n Repairs expense 920 Cash 920 15 O Dividends 10,920 Cash 10,920 16 Wages expense 1,600 Cash 1,600 17 q Advertising expense 2,800 Cash 2,800 Return to question 15 Required 1 Required 2 Required 3 Prepare a trial balance as of the end of June. 1.5 points ARACEL ENGINEERING Trial Balance June 30 Debit Credit Cash Accounts receivable Prepaid insurance Office equipment Drafting equipment Building Land Accounts payable Notes payable TotalsStep by Step Solution
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