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please help ASAP Aracel Engineering completed the following transactions in the month of June. a. J. Aracel, the owner, invested $205,000 cash, office equipment with
please help ASAP
Aracel Engineering completed the following transactions in the month of June. a. J. Aracel, the owner, invested $205,000 cash, office equipment with a value of $8,400, and $79,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $58,000 for an office by paying $8,800 cash and signing a note payable for $49,200. c. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. d. The company paid $2,600 cash for the premium on an 18-month insurance policy. e. The company provided services to a client and collected $6,900 cash. 1. The company purchased $29,000 of additional drafting equipment by paying $9,900 cash and signing a note payable for $19,100. g. The company completed $17,000 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,200 of additional office equipment on credit. 1. The company completed $28,000 of services for a customer on credit J. The company purchased $1,387 of TV advertising on credit. k. The company collected $5,000 cash in partial payment from the client described in transaction g. 1. The company paid $2,300 cash for employee wages. m. The company paid $1,200 cash to settle the account payable created in transaction h. n. The company paid $935 cash for repairs. o. The company paid a $10,610 cash dividend p. The company paid $2,100 cash for employee wages. 4. The company paid $3,100 cash for advertisements on the Web during June. Post the journal entries from part 1 to the ledger accounts Tranco Debu Credit G 106 Accusable Debid Credit Traction D 1 OOO + K d 10 EET 1 3 1 m PR Rette 104: Prepaid Insurance Debit Credil Transaction d Balance 163: Office Equipment Debit Credit Transaction Balance a h + 164: Drafting Equipment Dobit Credit 170: Building Debit Credit Transaction Balance Transaction Balance C o 1 172: Land Debit Credit 201: Accounts Payable Dobit Credit Balance Balance Transaction Transaction h 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 9 172: Land Debit Credit Transaction b Balance 201. Accounts Payable Debit Credit Transaction h Balance - OOO m + 250: Notes Payable Debit Credit Transaction Balance 307: Common Stock Debit Credit Transaction Balance b. b O 319: Dividends Debit Credit 403: Services Revenue Debit Credit Transaction Balance Transaction Balance 9 Dividende Tunc Dobit Credit 1 Service Raven Credit Transaction le + GOL: Wages Expo Dent Credit coa: Advertising Expense Dobit Credit Transaction Balance Transaction Balance OO 504: Repairs Express Debit Credit Transaction Balance PIBY 9 of 10 Next > p + 604: Repairs Expense Debit Credit Transaction Balance 9 of 10 Required 1 Required 2 Required 3 Prepare a trial balance as of the end of June. ARACEL ENGINEERING Trial Balance June 30 Debit Credit Step by Step Solution
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