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June 1 Kay Wright, the owner, invested $ 1 3 6 , 0 0 0 cash, office equipment with a value of $ 1 4
June Kay Wright, the owner, invested $ cash, office equipment with a value of $ and $ of drafting equipment to launch the company in exchange for common stock.
June The company purchased land worth $ for an office by paying $ cash and signing a longterm note payable for $
June The company purchased a portable building with $ cash and moved it onto the land acquired on June
June The company paid $ cash for the premium on an month insurance policy.
June The company completed and delivered a set of plans for a client and collected $ cash.
June The company purchased $ of additional drafting equipment by paying $ cash and signing a longterm note payable for $
June The company completed $ of engineering services for a client. This amount is to be received in days.
June The company purchased $ of additional office equipment on credit.
June The company completed engineering services for $ on credit.
June The company received a bill for rent of equipment that was used on a recently completed job. The $ rent cost must be paid within days.
June The company collected $ cash in partial payment from the client billed on June
June The company paid $ cash for wages to a drafting assistant.
June The company paid $ cash to settle the account payable created in on June
June The company paid $ cash for minor maintenance of its drafting equipment.
June The company paid $ cash in dividends.
June The company paid $ cash for wages to a drafting assistant.
June The company paid $ cash for advertisements on the web during June.
using info above, create:
General Journal Tab For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. Each journal entry is automatically posted to the General Ledger.
General Ledger Tab To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Abnormal balances appear in parentheses. Click on any amount to see the underlying journal entry.
Trial Balance Tab A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. If your trial balance doesn't balance, review your journal entries on the general journal tab.
Income Statement Tab Using the dropdown buttons, select the financial statement elements and account titles to be included on the income statement. The account balances will automatically populate.
Statement of Retained Earnings Tab Using the dropdown buttons, select the item that accurately describes the values that either increase or decrease the retained earnings balance.
Balance Sheet Tab Using the dropdown buttons, select the financial statement elements and account titles to be included on the balance sheet. The account balances will automatically populate.
Impact on Equity Tab Using the dropdown buttons, indicate the impact each item has on total equity. Compare the total with the amount of equity reported on the balance sheet.
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