Question: What am i missing? Problem 2 - 2 A ( Algo ) Preparing and posting journal entries; preparing a trial balance LO A 1 ,
What am i missing? Problem A Algo Preparing and posting journal entries; preparing a trial balance LO A P
Aracel Engineering completed the following transactions in the month of June.
a J Arscel, the owner, invested $ cash, office equipment with a value of $ and $ of drafting equipment to launch the company in exchange for common stock.
b The company purchased land worth $ for an office by paying $ cash and signing a note payable for $
c The compary purchased a portable building with $ cash and moved it onto the land acquired in b
d The company paid $ cash for the premium on an month insurance policy.
e The company provided services to a client and collected $ cash.
f The company purchased $ of additional drafting equipment by paying $ cash and signing a note payable for $
The company completed $ of services for a client. This amount is to be received in days.
h The company purchased $ of additional office equipment on credit.
i The company completed $ of services for a customer on credit.
J The company purchased $ of TV advertising on credit.
The company collected $ cash in partial payment from the client described in transaction
The company paid $ cash for employee wages.
n The company paid $ cash to settle the account payable created in transaction
n The company paid $ cash for repairs.
o The company paid a $ cash dividend.
p The company paid $ cash for employee wages.
q The company paid $ cash for advertisements on the Web during dune.
Required:
Prepare general journal entries to record these transactions using the following titles: Cash ; Accounts Receivable ; Prepaid Insurance ; Office Equipment ; Drating Equipment ; Building ; Land ; Accounts Payable ; Notes Payable ; Common Stock ; Dividends ; Services Revenue ; Wages Expense ; Advertising Expense ; and Repairs Expense
Post the journal entries from part to the ledger accounts
Prepare a trial balance as of the end of June.
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Prepare general journal entries to record these transactions using the following titles: Cash ; Accounts Receivable ; Prepaid Insurance ; Office Equipment ; Drafting Equipment ; Building ; Land ; Accounts Payable ; Notes Payable ; Common Stock ; Dividends ; Services Revenue ; Wages Expense ; Advertising Expense ; and Repairs Expense
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