{"id":75396,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/aracel-engineering_-journal-entries-ledger-accounts-and-trial-balance-2"},"modified":"2017-08-18T07:01:36","modified_gmt":"2017-08-18T07:01:36","slug":"aracel-engineering_-journal-entries-ledger-accounts-and-trial-balance-2","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/aracel-engineering_-journal-entries-ledger-accounts-and-trial-balance-2\/","title":{"rendered":"Aracel Engineering_ Journal entries, Ledger accounts and Trial Balance"},"content":{"rendered":"

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Aracel Engineering completed the following transactions in the month of June.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
a.<\/td>\nTo 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.<\/td>\n<\/tr>\n
b.<\/td>\nThe company purchased land worth $55,000 for an office by paying $9,000 cash and signing a long-term note payable for $46,000.<\/td>\n<\/tr>\n
c.<\/td>\nThe company purchased a portable building with $58,000 cash and moved it onto the land acquired inb<\/em>.<\/td>\n<\/tr>\n
d.<\/td>\nThe company paid $3,500 cash for the premium on an 18-month insurance policy.<\/td>\n<\/tr>\n
e.<\/td>\nThe company completed and delivered a set of plans for a client and collected $6,600 cash.<\/td>\n<\/tr>\n
f.<\/td>\nThe company purchased $31,000 of additional drafting equipment by paying $9,800 cash and signing a long-term note payable for $21,200.<\/td>\n<\/tr>\n
g.<\/td>\nThe company completed $19,500 of engineering services for a client. This amount is to be received in 30 days.<\/td>\n<\/tr>\n
h.<\/td>\nThe company purchased $1,500 of additional office equipment on credit.<\/td>\n<\/tr>\n
i.<\/td>\nThe company completed engineering services for $26,000 on credit.<\/td>\n<\/tr>\n
j.<\/td>\nThe 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.<\/td>\n<\/tr>\n
k.<\/td>\nThe company collected $9,000 cash in partial payment from the client described in transactiong<\/em>.<\/td>\n<\/tr>\n
l.<\/td>\nThe company paid $2,400 cash for wages to a drafting assistant.<\/td>\n<\/tr>\n
m.<\/td>\nThe company paid $1,500 cash to settle the account payable created in transactionh<\/em>.<\/td>\n<\/tr>\n
n.<\/td>\nThe company paid $1,165 cash for minor maintenance of its drafting equipment.<\/td>\n<\/tr>\n
o.<\/td>\nThe company paid $10,590 cash in dividends.<\/td>\n<\/tr>\n
p.<\/td>\nThe company paid $1,700 cash for wages to a drafting assistant.<\/td>\n<\/tr>\n
q.<\/td>\nThe company paid $3,300 cash for advertisements on the Web during June.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Prepare Journal entries, Ledger accounts and Trial Balance<\/p>\n<\/fieldset>\n

<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

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. Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-75396","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/75396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=75396"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/75396\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=75396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=75396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=75396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}