Item8

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Item 8

Aracel Engineering completed the following transactions in the month of June.

1. J. Aracel, the owner, invested $240,000 cash, office equipment with a value of $9,400, and $67,000 of drafting equipment to launch the company in exchange for common stock.
2. The company purchased land worth $52,000 for an office by paying $9,300 cash and signing a note payable for $42,700.
3. The company purchased a portable building with $53,000 cash and moved it onto the land acquired in b.
4. The company paid $3,800 cash for the premium on an 18-month insurance policy.
5. The company provided services to a client and collected $7,100 cash.
6. The company purchased $24,000 of additional drafting equipment by paying $11,500 cash and signing a note payable for $12,500.
7. The company completed $14,000 of services for a client. This amount is to be received in 30 days.
8. The company purchased $1,850 of additional office equipment on credit.
9. The company completed $27,000 of services for a customer on credit.
10. The company purchased $1,538 of TV advertising on credit.
11. The company collected $6,000 cash in partial payment from the client described in transaction g.
12. The company paid $2,100 cash for employee wages.
13. The company paid $1,850 cash to settle the account payable created in transaction h.
14. The company paid $1,165 cash for repairs.
15. The company paid a $10,810 cash dividend.
16. The company paid $1,800 cash for employee wages.
17. The company paid $3,000 cash for advertisements on the Web during June.