Aracel Engineering completed the following transactions in the month of June.J. a) Aracel, the owner, invested $205,000 cash, office equipment with a value of $8,800, and $63,000 of drafting equipment to launch the company in exchange for common stock. b) The company purchased land worth $56,000 for an office by paying $9,600 cash and signing a note payable for $46,400. c) The company purchased a portable building with $57,000 cash and moved it onto the land acquired in b. d) The company paid $5,000 cash for the premium on an 18-month insurance policy. e)The company provided services to a client and collected $7,900 cash. f) The company purchased $33,000 of additional drafting equipment by paying $9,900 cash and signing a note payable for $23,100. g) The company completed $19,000 of services for a client. This amount is to be received in 30 days. h) The company purchased $1,950 of additional office equipment on credit. i) The company completed $27,000 of services for a customer on credit. j)The company purchased $1,625 of TV advertising on credit. k)The company collected $6,000 cash in partial payment from the client described in transaction g. l) The company paid $1,400 cash for employee wages. m) The company paid $1,950 cash to settle the account payable created in transaction h. n) The company paid $930 cash for repairs. o) The company paid a $9,900 cash dividend. p) The company paid $1,300 cash for employee wages. q) The company paid $3,700 cash for advertisements on the Web during June. NEED HELP WITH 1. Post the journal entries from part 1 to the ledger accounts. 2. Prepare a trial balance as of the end of June.
Aracel Engineering completed the following transactions in the month of June.J.
a) Aracel, the owner, invested $205,000 cash, office equipment with a value of $8,800, and $63,000 of drafting equipment to launch the company in exchange for common stock.
b) The company purchased land worth $56,000 for an office by paying $9,600 cash and signing a note payable for $46,400.
c) The company purchased a portable building with $57,000 cash and moved it onto the land acquired in b.
d) The company paid $5,000 cash for the premium on an 18-month insurance policy.
e)The company provided services to a client and collected $7,900 cash.
f) The company purchased $33,000 of additional drafting equipment by paying $9,900 cash and signing a note payable for $23,100.
g) The company completed $19,000 of services for a client. This amount is to be received in 30 days.
h) The company purchased $1,950 of additional office equipment on credit.
i) The company completed $27,000 of services for a customer on credit.
j)The company purchased $1,625 of TV advertising on credit.
k)The company collected $6,000 cash in partial payment from the client described in transaction g.
l) The company paid $1,400 cash for employee wages.
m) The company paid $1,950 cash to settle the account payable created in transaction h.
n) The company paid $930 cash for repairs.
o) The company paid a $9,900 cash dividend.
p) The company paid $1,300 cash for employee wages.
q) The company paid $3,700 cash for advertisements on the Web during June.
NEED HELP WITH
1.
2. Prepare a
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