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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please also do balance sheet for aracel engineering balance sheet for June 30th, 2018 thank you
Transcribed Image Text: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 payable
for $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 be
paid 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.
Book
Print
rences
General
Journal
General
Ledger
Income
Statement
St Retained
Earnings
Impact on
Equity
Requirement
Trial Balance
Balance Sheet
The income statement reports the change in equity attributable to the operation of the business during a specific period of
time. Using the dropdown buttons, select the financial statement elements and account titles to be included on the
income statement. The account balances will automatically populate. Did the company report net income or net loss during
the current month?
Show less A
ARACEL ENGINEERING
Income Statement
For Month Ended June 30, 2018
< Trial Balance
St Retained Earnings >
Transcribed Image Text:GLO205 - Based on Problem 2-2A Aracel Englneering
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 $1e0,e00 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment
to 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 payable
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
for $1e,5ee
7 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.
paid
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 $1,158 cash to settle the account payable created in on June 8.
Jun. 20 The company paid $925 cash for minor maintenance of its
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.
Irafting equipment.
X Answer is not complete.
General
Journal
General
Ledger
Income
Statement
St Retained
Earnings
Impact on
Equity
Requirement
Trial Balance
Balance Sheet
The 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 the
amount of equity reported on the balance sheet.
Transaction
Impact on Equity
Jenna Aracel, the owner, invested $100,000
Jun.
cash, office equipment with a value of $5,000, and
S60,000 of drafting equipment to launch the company in
exchange for common stock.
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.
Jun. 3 The company purchased a portable building with
$55,000 cash and moved it onto the land acquired on
Is
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