Aracel Engineering completed the following transactions in
the month of June.
Jun. 1
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.
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 June 2.
Jun. 4
The
company paid $3,000 cash for the premium on an 18-month insurance policy.
Jun. 5
The
company completed and delivered a set of plans for a client and collected
$6,200 cash.
Jun. 6
The
company purchased $20,000 of additional drafting equipment by paying $9,500
cash and signing a long-term note payable for $10,500.
Jun. 7
The
company completed $14,000 of engineering services for a client. This amount is
to be received in 30 days.
Jun. 8
The
company purchased $1,150 of additional office equipment on credit.
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 $7,000 cash in partial payment from the client described
billed on June 9.
Jun. 14
The
company paid $1,200 cash for wages to a drafting assistant.
Jun. 17
The
company paid $1,150 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.
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