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plz help there are 17 parts to the first journal entry. Problem 2-2A (Algo) Preparing and posting journal entries; preparing a trial balance LO A1,
plz help there are 17 parts to the first journal entry.
Problem 2-2A (Algo) Preparing and posting journal entries; preparing a trial balance LO A1, P1 Aracel Engineering completed the following transactions in the month of June. a. J.Aracel . the owner, invested $160.000 cash, office equipment with a value of $9,400, and $65,000 of drafting equipment to launch the company b. The company purchased land worth $49,000 for an office by paying $8.900 cash and signing a note payable for $40,100. c. The company purchased a portable building with $56,000 cash and moved it onto the land acquired in b. d. The company paid $2,500 cash for the premium on an 18-month Insurance policy e. The company provided services to a client and collected $6.200 cash. f. The company purchased $29,000 of additional drafting equipment by paying $11,200 cash and signing a note payable for $17,800. 9. The company completed $20,000 of services for a client. This amount is to be received in 30 days. h. The company purchased $1,650 of additional office equipment on credit. 1. The company completed $26,000 of services for a customer on credit. 1. The company purchased $1,598 of TV advertising on credit. k. The company collected $6,000 cash in partial payment from the client described in transaction g. m. The company paid $1,650 cash to settle the account payable created in transaction h. n. The company paid $950 cash for repairs. 0. J. Aracel withdrew $10,660 cash from the company for personal use. p. The company paid $1.900 cash for employee wages. 4. The company paid $3,200 cash for advertisements on the Web during June. Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101) Accounts Receivable (106); Prepaid Insurance (108): Office Equipment (163), Drafting Equipment (164); Building (170), Land (172): Accounts Payable (201): Notes Payable (250); J. Aracel, Capital (301). J. Aracel, Withdrawals (302); Services Revenue (403): Wages Expense (601): Advertising Expense (603); 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of June. Complete this question by entering your answers in the tabs below. View transaction list Journal entry worksheet 164: Drafting Equipment Debit Credit 170: Building Debit Credit Balance Transaction Balance Transaction 172: Land Debit Credit 201: Accounts Payable Debit Credit Balance Transaction Balance Transaction 250: Notes Payable Debit Credit 301: J. Aracel, Capital Debit Credit Transaction Balance Transaction Balance 302: J. Aracel, Withdrawals Debit Credit 403: Services Revenue Debit Credit Transaction Balance Transaction Balance 601: Wages Expense 603: Advertising Expense 601: Wages Expense Debit Credit 603: Advertising Expense Debit Credit Transaction Balance Transaction Balance 604: Repairs Expense Debit Credit Transaction Balance Required 1 Required 2 Required 3 Prepare a trial balance as of the end of June. ARACEL ENGINEERING Trial Balance June 30 Debit Credit
there are 17 parts to the first journal entry.
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