29 Jun Question Aracel Engineering completed the following transactions in the month of June.
Question
Aracel Engineering completed the following transactions in the month of June.
a.
To launch the company, Jenna Aracel, the owner, invested $160,000 cash, office equipment with a value of $8,700, and $64,000 of drafting equipment in exchange for common stock.
b.
The company purchased land worth $55,000 for an office by paying $9,000 cash and signing a long-term note payable for $46,000.
c.
The company purchased a portable building with $58,000 cash and moved it onto the land acquired inb.
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 $6,600 cash.
f.
The company purchased $31,000 of additional drafting equipment by paying $9,800 cash and signing a long-term note payable for $21,200.
g.
The company completed $19,500 of engineering services for a client. This amount is to be received in 30 days.
h.
The company purchased $1,500 of additional office equipment on credit.
i.
The company completed engineering services for $26,000 on credit.
j.
The company received a bill for rent of equipment that was used on a recently completed job. The $1,533 rent cost must be paid within 30 days.
k.
The company collected $9,000 cash in partial payment from the client described in transactiong.
l.
The company paid $2,400 cash for wages to a drafting assistant.
m.
The company paid $1,500 cash to settle the account payable created in transactionh.
n.
The company paid $1,165 cash for minor maintenance of its drafting equipment.
o.
The company paid $10,590 cash in dividends.
p.
The company paid $1,700 cash for wages to a drafting assistant.
q.
The company paid $3,300 cash for advertisements on the Web during June.
Prepare Journal entries, Ledger accounts and Trial Balance
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.