GLO205 Based on Problem 2-2A Aracel EnglneeringAracel Engineering completed the following transactions in the month of June.Using the following transactions, record journal entrieS, create financial statements, and assess the impact of each transaction on thefinancial statements.1 Jenna Aracel, the owner, invested Siee, e0e cash, office equipment with a value of $5,8e0e, and $60,e00 of drafting equipmentto launch the company in exchange for common stock.2 The company purchased land worth $49,eee for an office by paying $6, 300 cash and signing a long-term note payable for$42, 700.3 The company purchased a portable building with $55,000 cash and moved it onto the land acquired on June 2.4 The company paid $3,00e cash for the premium on an 18-month insurance policy.5 The company completed and delivered a set of plans for a client and collected $6. 200 cash,6 The company purchased $20,000 of additional drafting equipment by paying S9,500 cash and signing a long-term note payablefor $1e,50e.7 The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days.8 The company purchased $1,150 of additional office equipment on credit.9 The company completed engineering services for $22,90e an credit.Jun.Dun.Dun.Jun.Jun.Jun.Jun.Jun.Jun.Jun. 1e The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent cost must bepaid within 30days.Jun. 12 The company collected $7, 800 cash in partial payment from the client billed on June 9.Jun. 14 The company paid $1,200 cash for wages to a drafting assistant.Jun. 17 The company paid $1,150 cash to settle the account payable created in on June 8.Jun. 20 The company paid $925 cash for minor mayntenance of its drafting equipment.Jun. 23 The company paid $9,480 cash in dividends.Jun. 28 The company paid $1,200 cash for wages to a drafting assistant.Jun. 29 The company paid $2,500 cash for advertisements on the web during June.GeneralJournalGeneralLedgerIncomeStatementSt RetainedEarningsImpact onEquityRequirementTrial BalanceBalance SheetEvery journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions,entering the debits before the credits. Each transaction is automatically posted to the General Ledger and the Trial Balance as soonas you click "Record Entry".Show less AView transaction listJournal entry worksheet3417Jun. 4) The company paid $3,000 cash for the premium on an 18-monthinsurance policy. Jun. 1e The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent cost must beVices +8r $22,000 on credit.paid within 30 days.Jun. 12 The company collected $7, eee cash in partial payment from the client billed on June 9.Jun. 14 The company paid $1, 200 cash for wages to a drafting assistant.Jun17 The company paid $1,150 cash to settle the account payable created in on June 8.Jun. 20 The company paid $925 cash for minor maintenance of its drafting equipment.Jun. 23 The company paid $9,480 cash in dividends.Jun. 28 The company paid $1,200 cash for wages to a drafting assistant.Jun. 29 The company paid $2,500 cash for advertisements on the web during June.GeneralJounalRequirementGeneralIncomeStatementSt RetainedEarningsTrial BalanceImpact onEquityLedgerBalance SheetEvery journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions,entering the debits before the credits. Each transaction is automatically posted to the General Ledger and the Trial Balance as soonas you click "Record Entry".Show less AView transaction listJournal entry worksheetく12 346<.817Jun. 4) The company paid $3,000 cash for the premium on an 18-monthinsurance policy.Note: Enter debits before credits.DateAccount TitleDebitCreditJun 04Record entryClear entryView general journal< RequirementGeneral Ledger >

Name: GLO205 Based on Problem 2-2A Aracel EnglneeringAracel Engineering com
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: GLO205 Based on Problem 2-2A Aracel EnglneeringAracel Engineering completed the following transactions in the month of June.Using the following transactions, record journal entrieS, create financial statements, and assess the impact of each transact

Business

Accounting

Aracel Engineering completed the following transactions in the month of June. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. 1 Jenna Aracel, the owner, invested $iee, eee cash, office equipment with a value of $5,0ee, and $60,e00 of drafting equipnent to launch the company in exchange for common stock. 2 The company purchased land worth $49,eee for an office by paying $6, 300 cash and signing a long-tern note payable for $42, 700. 3 The company purchased a portable building with $55,000 cash and moved it onto the land acquired on )June 2. 4 The company paid $3,00e cash for the premium on an 18-month insurance policy. S The company completed and delivered a set of plans for a client and collected $6,200 cash. 6 The company purchased S2@,000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $1e,50. The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days. 8 The company purchased $1,150 of additional office equipment on credit. 9 The company completed engineering services for $22,eee on credit. Jun. Jun. Jun. Jun. Jun. Jun. Jun. Jun. Jun. Jun. 1e The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent cost must be paid within 30 days. Jun. 12 The company collected $7,eee cash in partial payment from the client billed on June 9. Jun. 14 The company paid $1,200 cash for wages to a drafting assistant. Jun. 17 The company paid $1,15e cash to settle the account payable created in on June 8. Jun. 20 The company paid $925 cash for minor mantenance of its drafting equipment. Jun. 23 The company paid 59,480 cash in dividends. Jun. 28 The company paid S1,200 cash for wages to a drafting assistant. Jun. 29 The company paid $2,5ee cash for advertisements on the web during June. St Retained Earnings Impact on Equity Income General Journal General Ledger Requirement Trial Balance Balance Sheet Statement Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions, entering the debits before the credits. Each transaction is automatically posted to the General Ledger and the Trial Balance as soon as you click "Record Entry".

Aracel Engineering completed the following transactions in the month of June. Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements. 1 Jenna Aracel, the owner, invested $iee, eee cash, office equipment with a value of $5,0ee, and $60,e00 of drafting equipnent to launch the company in exchange for common stock. 2 The company purchased land worth $49,eee for an office by paying $6, 300 cash and signing a long-tern note payable for $42, 700. 3 The company purchased a portable building with $55,000 cash and moved it onto the land acquired on )June 2. 4 The company paid $3,00e cash for the premium on an 18-month insurance policy. S The company completed and delivered a set of plans for a client and collected $6,200 cash. 6 The company purchased S2@,000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $1e,50. The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days. 8 The company purchased $1,150 of additional office equipment on credit. 9 The company completed engineering services for $22,eee on credit. Jun. Jun. Jun. Jun. Jun. Jun. Jun. Jun. Jun. Jun. 1e The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent cost must be paid within 30 days. Jun. 12 The company collected $7,eee cash in partial payment from the client billed on June 9. Jun. 14 The company paid $1,200 cash for wages to a drafting assistant. Jun. 17 The company paid $1,15e cash to settle the account payable created in on June 8. Jun. 20 The company paid $925 cash for minor mantenance of its drafting equipment. Jun. 23 The company paid 59,480 cash in dividends. Jun. 28 The company paid S1,200 cash for wages to a drafting assistant. Jun. 29 The company paid $2,5ee cash for advertisements on the web during June. St Retained Earnings Impact on Equity Income General Journal General Ledger Requirement Trial Balance Balance Sheet Statement Every journal entry must keep the accounting equation in balance. Prepare the journal entries for each of the transactions, entering the debits before the credits. Each transaction is automatically posted to the General Ledger and the Trial Balance as soon as you click "Record Entry".

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section19.1: Buying Plant Assets And Paying Property Taxes

Problem 1OYO

See similar textbooks