- June 1 Kay Wright The Owner Invested 136 000 Cash Office Equipment With A Value Of 14 088 And 78 080 Of Drafting 1 (84.01 KiB) Viewed 107 times
- June 1 Kay Wright The Owner Invested 136 000 Cash Office Equipment With A Value Of 14 088 And 78 080 Of Drafting 2 (72.2 KiB) Viewed 107 times
June 1 Kay Wright, the owner, invested $136,000 cash, office equipment with a value of $14,088, and $78,080 of drafting equipment to launch the
company in exchange for common stock. June 2 The
company purchased land worth $58,000 for an office by paying $18.900 cash and signing a long-term note payable for $39, 100. June 3 The
company purchased a portable building with $46,000 cash and moved it onto the land acquired on June 2. June 4 The
company paid $8,400 cash for the premium on an 18-month insurance policy. June 5. The
company completed and delivered a set of plans for a client and collected $13,488 cash. June 6 The
company purchased $30,880 of additional drafting equipment by paying $18,500 cash and signing a long-term note payable for $12,300. June 7 The
company completed $28,400 of engineering services for a client. This amount is to be received in 30 days. June 8 The
company purchased $2,050 of additional office equipment on credit. June 9 The
company completed engineering services for $25,600 on credit. June 10 The
company received a bill for rent of equipment that was used on a recently completed job. The $2,200 rent cost must be paid within 30 days. June 12 The
company collected $14,200 cash in partial payment from the client billed on June 9. June 14 The
company paid $1,200 cash for wages to a drafting assistant. June 17 The
company paid $2,050 cash to settle the account payable created in on June 8. June 20 The
company paid $1,375 cash for minor maintenance of its drafting equipment. June 23 The
company paid $9,840 cash in dividends. June 28 The
company paid $1,200 cash for wages to a drafting assistant. June 29 The
company paid $3,220 cash for advertisements on the web during June. Requirement General Journal General Ledger Trial Balance Income
Statement St Retained Earnings Balance Sheet Impact on Equity General Journal Tab - For each transaction, prepare the required journal entry on the General Journal tab. List debits before credits. Each journal entry is automatically posted to the General Ledger General Ledger Tab - To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Abnormal balances appear in parentheses. Click on any amount to see the underlying journal entry. Trial Balance Tab - A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. If your trial balance doesn't balance, review your journal entries on the general Journal tab. Income
Statement Tab - 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,
Statement of Retained Earnings Tab - Using the dropdown buttons, select the item that accurately describes the values that either increase or decrease the retained earnings balance. Balance Sheet Tab - Using the dropdown buttons, select the financial
statement elements and account titles to be included on the balance sheet. The account balances will automatically populate. Impact on Equity Tab - Using the dropdown buttons, indicate the impact each item has on total equity. Compare the total with the amount of equity reported on the balance sheet.
General Journal Requirement General Ledger Trial Balance Income
Statement St RE Ear The income
statement reports the change in equity attributable to the operati time. Using the dropdown buttons, select the financial
statement elemen income
statement. The account balances will automatically populate. Did th the current month? WRIGHT ENGINEERING Income
Statement For Month Ended June 30, 2021 < Trial Balance St Retained Earni