Please also do balance sheet for aracel engineering balance sheet for June 30th, 2018 thank you Jun.2 The company purchased land worth $49,000 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 $3,000 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 $20,00e of additional drafting equipment by paying $9,500 cash and signing a long-term note payablefor $10,500.7 The company completed $14, 00e 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.Jun.Jun.Jun.Jun.Jun.Jun.Jun. 9 The company completed engineering services for $22,000 on credit.Jun, 10 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 30 days.Jun. 12 The company collected $7,e00 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 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.BookPrintrencesGeneralJournalGeneralLedgerIncomeStatementSt RetainedEarningsImpact onEquityRequirementTrial BalanceBalance SheetThe income statement reports the change in equity attributable to the operation of the business during a specific period oftime. Using the dropdown buttons, select the financial statement elements and account titles to be included on theincome statement. The account balances will automatically populate. Did the company report net income or net loss duringthe current month?Show less AARACEL ENGINEERINGIncome StatementFor Month Ended June 30, 2018< Trial BalanceSt Retained Earnings > 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 $1e0,e00 cash, office equipment with a value of $5,000, and $60,000 of drafting equipmentto launch the company in exchange for common stock.2 The company purchased land worth $49,000 for an office by paying $6, 300 cash and signing a long-term note payable for$42, 780.3 The company purchased a portable building with $55,0ee cash and moved it onto the land acquired on June 2.4 The company paid $3,08e 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 $28,000 of additional drafting equipment by paying $9,5ee cash and signing a long-term note payableJun.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 befor $1e,5ee7 The company completed $14,e00 of engineering services for a client. This amount is to be received in 30 days.8 The company purchased $1,158 of additional office equipment on credit.9 The company completed engineering services for $22,000e on credit.aid vithin 30 days.paidJun. 12 The company collected $7,e00 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 $1,158 cash to settle the account payable created in on June 8.Jun. 20 The company paid $925 cash for minor maintenance of itsJun. 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.Irafting equipment.X Answer is not complete.GeneralJournalGeneralLedgerIncomeStatementSt RetainedEarningsImpact onEquityRequirementTrial BalanceBalance SheetThe expanded accounting equation shows the four subsets of equity: Revenues, Expenses, stockholder investments and dividends.Using the dropdown buttons, indicate the impact each transaction has on total equity (if any). Compare the total with theamount of equity reported on the balance sheet.TransactionImpact on EquityJenna Aracel, the owner, invested $100,000Jun.cash, office equipment with a value of $5,000, andS60,000 of drafting equipment to launch the company inexchange for common stock.Jun. 2 The company purchased land worth $49,000 foran office by paying $6,300 cash and signing a long-termnote payable for $42,700.Jun. 3 The company purchased a portable building with$55,000 cash and moved it onto the land acquired onIs

Income Statement - This statement shows the income earned and loss incurred by the organization in…

he company purchased a portable building with $55,000 cash and moved it onto the land acquired o he company paid $3,000 cash for the premium on an 18-month insurance policy. he company completed and delivered a set of plans for a client and collected $6, 200 cash. he company purchased $20,0ee of additional drafting equipment by paying $9,5ee cash and signing or $10,see. he company completed $14,eee of engineering services for a client. This amount is to be received he company purchased $1,15e of additional office equipment on credit. he company completed engineering services for $22,00e on credit. he company received a bill for rent of equipment that was used on a recently completed job. The aid within 30 days. he company collected $7,e00 cash in partial payment from the client billed on June 9. he company paid $1, 200 cash for wages to a drafting assistant. he company paid $1,15e cash to settle the account payable created in on June 8. ne company paid $925 cash for minor maintenance of its drafting equipment. ne company paid $9,480 cash in dividends. he company paid $1, 200 cash for wages to a drafting assistant. he company paid $2, see cash for advertisements on the web during June.

he company purchased a portable building with $55,000 cash and moved it onto the land acquired o he company paid $3,000 cash for the premium on an 18-month insurance policy. he company completed and delivered a set of plans for a client and collected $6, 200 cash. he company purchased $20,0ee of additional drafting equipment by paying $9,5ee cash and signing or $10,see. he company completed $14,eee of engineering services for a client. This amount is to be received he company purchased $1,15e of additional office equipment on credit. he company completed engineering services for $22,00e on credit. he company received a bill for rent of equipment that was used on a recently completed job. The aid within 30 days. he company collected $7,e00 cash in partial payment from the client billed on June 9. he company paid $1, 200 cash for wages to a drafting assistant. he company paid $1,15e cash to settle the account payable created in on June 8. ne company paid $925 cash for minor maintenance of its drafting equipment. ne company paid $9,480 cash in dividends. he company paid $1, 200 cash for wages to a drafting assistant. he company paid $2, see cash for advertisements on the web during June.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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