General Journal Entries Assignment

wayes Expense (OU1), Equipment ro Advertising Expense (603); and Repairs Expense (604). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 17 Jenna Aracel, the owner, invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock Note: Enter debits before credits Transaction Account Title Debit Credit a Record entry Clear entry View general journal Required 2 Expense (603), and Repairs Expense (604). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 17 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. Note: Enter debits before credits. Transaction Account Title Debit Credit b Record entry Clear entry View general journal View transaction list Journal entry worksheet r 6 7 2 1 3 4 5 17 The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. Note: Enter debits before credits. Transaction Account Title Credit Debt C Record entry Clear entry View general journal View transaction list Journal entry worksheet < 1 2 3 6 7 4 8 17 The company paid $3,000 cash for the premium on an 18-month insurance policy Note: Enter debits before credits.

Transaction Account Title Debit Credit d Record entry Clear entry View general journal > Required 2 LO View transaction list Journal entry worksheet 1 2 3 4 6 7 8 17 The company completed and delivered a set of plans for a client and collected $6,200 cash Note: Enter debits before credits. Transaction Account Title Credit Debit View general journal Record entry Clear entry Required 2 Advertising Expense (603); and Repairs Expense (604) View transaction list Journal entry worksheet Expense (b04). View transaction list Journal entry worksheet 1 2 u, common stock (J0, uIVIuenusO9, engineering rees carmeu 19ue), wayes expertise (ou1, equipment renar Advertising Expense (603); and Repairs Expense (604). View transaction list Journal entry worksheet ed View transaction list Journal entry worksheet View transaction listed Journal entry worksheet View transaction list Journal entry worksheet 1 .. 10 11 12 13 14 15 16 17 The company collected $7,000 cash in partial payment from the client described in transaction g. Note: Enter debits before credits. Transaction Account Title Debit Credit k Clear entry View general journal Record entry 2 View transaction list Journal entry worksheet 10 12 1 11 14 15 17 The company paid $1,200 cash for wages to a drafting assistant. Note: Enter debits before credits. Credit Debit Transaction Account Title View general journal Clear entry Record entry 16 13 Irs Expense (604). View transaction list Journal entry worksheet 1. 10 11 12 13 16 17 14 15 The company paid $1,150 cash to settle the account payable created in transaction h. Note: Enter debits before credits. Transaction Account Title Debit Credit Clear entry View general journal Record entry ZOu Common stOCK (JU), DIVIuenus (19), Engineering rees comeu40z), wages expense (oui), equipment Advertising Expense (603); and Repairs Expense (604). View transaction list Journal entry worksheet 17 16 15 14 13 View transaction list Journal entry worksheet 17 10 16 15 View transaction list Journal entry worksheet 1 Check m Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock. b. 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 c. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b d. The company paid $3,000 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 $6,200 cash. f. The company purchased $20,000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $10,500 g. The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days h. The company purchased $1,150 of additional office equipment on credit . The company completed engineering services for $22,000 on credit. j. 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. k. The company collected $7000 cash in partial payment from the client described in transaction g. I. The company paid $1,200 cash for wages to a drafting assistant. m. The company paid $1,150 cash to settle the account payable created in transaction h. n. The company paid $925 cash for minor maintenance of its drafting equipment o. The company paid $9,480 cash in dividends. p. The company paid $1,200 cash for wages to a drafting assistant. q. The company paid $2,500 cash for advertisements on the Web during June. 071 points Skipped eBook Print References Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101): Accounts Receivable (106) Prepaid Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170): Land (172); Accounts Payable (201): Notes Payable (250); Common Stock (307); Dividends (319); Engineering Fees Earned (402); Wages Expense (601): Equipment Rental Expense (602) Advertising Expense (603); and Repairs Expense (604) 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of June. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). Show less & View transaction list. .