impact of equity

Jun. Garcia 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 3ose Garcia, the owner, invested $116,eee cash, office equipment with a value of $9,000, and $61,000 of drafting equipment to launch the company. Jun. 2 The company purchased land worth $53, eee for an office by paying $11,900 cash and signing a long-tern note payable for $41,100. Jun. 3 The company purchased a portable building with $1,000 cash and moved it onto the land acquired on June 2. 4 The company paid $5,400 cash for the premium on an 18-month insurance policy. Jun. The company completed and delivered a set of plans for a client and collected 59,400 cash. Jun. The company purchased $24, ne of additional drafting equipment by paying $13,500 cash and signing a long-tern note payable for $11,300. 7 The company completed $20,400 of engineering services for a client. This amount is to be received in 30 days. Jun. The company purchased $1,558 of additional office equipment on credit. Jun. 9 The company completed engineering services for $23,600 on credit. Jun. 10 The company received a bill for rent of equipment that was used on a recently completed job. The 51,700 rent cost must be paid within 30 days. Jun. 12 The company collected $10,280 cash in partial payment from the client billed on June 9. Jun. 14 The company paid 51,600 cash for wages to a drafting assistant. Jun. 17 The company paid $1,550 cash to settle the account payable created in on June 8. jun. 20 The company paid $1,125 cash for minor maintenance of its drafting equipment. Jun. 23 Jose Garcia withdrew 59,540 cash from the company for personal use. Jun. 28 The company paid $1,500 cash for wages to a drafting assistant. Jun. 29 The company paid $2,828 cash for advertisements on the web during June. Jun. General General Income St Owners Requirement Impact on Journal Trial Balance Ledger Statement Balance Sheet Equity Equity While the balance sheet reports the detail of individual assets and liabilities, owner's equity is reported in total. The expanded accounting equation shows the four subsets of equity: Revenues, Expenses, Owner investments and Owner withdrawals. Using the dropdown buttons, indicate the impact each transaction has on total equity (if any). Compare the total with the amount of equity reported on the balance sheet. Show less Transaction Impact on Equity Jose Garcia, the owner, invested $116,000 cash, office equipment with a value of 59 000, and 568 000 of drafting equipment to launch the company The company purchased and worth 553.000 for an office by paying S11 900 cash and signing a long-term note payable for $41.100 Increased equity - Revenue The company purchased a portable building with 551 000 cash and moved onto the land acquired on June 2 0 Increased equity. Owner investment The company paid 55,400 cash for the premium on an 18 month insurance policy Decreased equity - Expense 0 The company completed and delivered a set of plans for a Decreased equity - Owner withdrawals 0 dient and collected 59.400 cash The company purchased 524 600 of additional drafting equipment by paymg 513 500 cash and signing a long-term 0 note payable for 511,300 The company completed $20 400 of engineering services for a client This amount is to be received in 30 days 0 The company purchased $1.550 of additional office equipment on credit 0 aw Prev 1 of 3 Show le 0 0 0 0 0 Transaction Impact on Equity Jose Garcia, the owner, invested $116,000 cash, office equipment with a value of $9,000, and $68,000 of drafting equipment to launch the company The company purchased and worth $53,000 for an office by paying S11 900 cash and signing a long-term note payable for $41,100 The company purchased a portable building with $51,000 Increased equity - Revenue cash and moved it onto the land acquired on June 2 Increased equity - Owner investment The company paid $5,400 cash for the premium on an 18- month insurance policy Decreased equity - Expense The company completed and delivered a set of plans for a Decreased equity - Owner withdrawals client and collected $9.400 cash The company purchased $24 800 of additional drafting equipment by paying 513 500 cash and signing a long-term note payable for $11,300. The company completed $20,400 of engineering services for a client. This amount is to be received in 30 days The company purchased 51,550 of additional office equipment on credit The company completed engineering services for $23,600 on credit The company received a bill for rent of equipment that was used on a recently completed job. The 51.700 rent cost must be paid within 30 days The company collected $10.200 cash in partial payment from the client billed on June 9, The company paid $1,600 cash for wages to a drafting assistant The company paid 51.550 cash to settle the account payable created in on June 8 The company paid $1,125 cash for minor repairs of its drafting equipment Jose Garcia withdrew 59,640 cash from the company for personal use The company paid $1,600 cash for wages to a drafting assistant The company paid $2,820 cash for advertisements on the web during June Total change in equity 0 0 0 0 0 0 0 0 0 $ 0