a. Jenna Aracel, the owner, invested $235,000 cash, office equipment with a value of $5,200, and $64,000 of drafting equipment to launch the company in exchange for common stock b. The company purchased land worth $59,000 for an office by paying $8,500 cash and signing a long-term note payable for $50,500. c. The company purchased a portable building with $53,000 cash and moved it onto the land acquired in b. d. The company paid $3,500 cash for the premium on an 18-month Insurance policy. e. The company completed and delivered a set of plans for a client and collected $9.400 cash. f. The company purchased $31,000 of additional drafting equipment by paying $11,300 cash and signing a long-term note payable for $19,700. 9. The company completed $17,500 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,400 of additional office equipment on credit. 1. The company completed engineering services for $28,000 on credit. J. The company received a bill for rent of equipment that was used on a recently completed job. The $1,307 rent cost must be paid within 30 days. k. The company collected $10,000 cash in partial payment from the client described in transaction g. 1. The company paid $1,300 cash for wages to a drafting assistant. m. The company paid $1,400 cash to settle the account payable created in transaction h. n. The company paid $1,090 cash for minor maintenance of its drafting equipment. o. The company paid $9.950 cash in dividends. p. The company paid $2,400 cash for wages to a drafting assistant. 4. The company paid $3,500 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): Prepa. Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172), Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319), Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). 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. Prepare general journal entries to record these transactions using the following titles: Cash (101); Account Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts (250); Common Stock (307); Dividends (319); Engineering Fees Earned (402); Wages Expense (601); Equ Advertising Expense (603); and Repairs Expense (604). View transaction list Journal entry worksheet Required 1 Required 2 Required 3 Post the journal entries from part 1 to the ledg Ho M 101: Cash Debit 106: Accounts Receivable Debit Credit Transaction 0 0 alance Transaction Balance TT 108: Prepaid Insurance Debit Credit 163: Office Equipment Debit Credit Transaction Balance Transaction Balance 164: Drafting Equipment Debit Credit 170: Building Debit Credit Transaction Balance Transaction Balance Transaction 172: Land Debit Cred Balance 201: Accounts Payable Debit Credit Transaction Balance 250: Notes Payable Debit Credit Transaction Balance 307: Common Stock Debit Credit Transaction Balance 319: Dividends Debit Credit 401: Engineering Fees Earned Debi C redit Transaction Balance Transaction Balance 601: Wages Expense Debit Credit 602: Equipment Rental Expense Debit Credit Transaction Balance Transaction Balance 503: Advertising Expense Debit Credit 604: Repair Expanse I Credit Transaction Balang MacBook Pro w
