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It says my answer is incomplete. Does anyone know what i am missing?? (all of my current answers are correct) The trial balance is a
It says my answer is incomplete. Does anyone know what i am missing?? (all of my current answers are correct)
The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underiying Journal entries. If the total debits do not equal the total credits, you must have one or more journal entries that are out of balance. If you have an abnormal ending balance (indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Using the dropdown buttons, select the item that accurately describes the vi retained earnings. Usina the drondown buttons. select the financial statement elements and acce The expanded accounting equation shows the four subsets of equity: Revenues, Expenses, stockholder investments and Using the dropdown buttons, Indicate the impact each transaction has on total equity (If any). Compare the amount of equity reported on the balance sheet. GL0205 (Static) - Based on Problem 2-2A Aracel Engineering Aracel 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. June 1 Jenna Aracel, the owner, Invested $100,000 eash, office equipment with a value of $5,000, and 560,000 of drafting equipment to launch the eompany in exchange for comnon stock. June 2 The company purchased land worth 549,000 for an office by paying $6,300 cash and signing a 10ngterm note payable for $42,700. June 3 The company purchased a portable bullding with $55,000 cash and moved it onto the 1 and acquired on June 2 . June 4 The company paid $3,000 cash for the premium on an 18 -month insurance policy. June 5 The conpany completed and delivered a set of plans for a client and collected $6,200 cash. June 6 The coopany purchased $20,000 of additional drafting equipnent by paying $9,500 cash and signing a long-term note payable for $10,500. June 7 The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days. June 8 The conpany purchased $1,250 of additional office equipment on credit. June 9 The conpany conpleted engineering services for $22,000 on credit. June 10 The company received a bill for rent of equipment that was used on a recently conpleted job. The $1,333 rent cost must be paid within 30 days. June 12 The conpany collected $7,000 cash in partial paynent from the olient billed on June 9 . June 14 The company paid $1,200 cash for vages to a drafting assistant. June 17 The company paid $1,150 cash to settle the account payable ereated in on June 8 . June 20 The conpany paid $925 cash for minor maintenance of its drafting equipnent. June 23 The conpany paid $9,480cash in dividends. June 28 the conpany paid $1,200 cash for vages to a drafting assistant. June 29 The conpany paid $2,500 cash for advertisements on the web during June. The expanded accounting equation shows the four subsets of equity: Revenues, Experises, stockholder investments and dividends. 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 Step by Step Solution
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