| a. |
To launch the company, Jenna Aracel, the owner, invested $250,000 cash, office equipment with a value of $9,800, and $70,000 of drafting equipment in exchange for common stock. |
| b. |
The company purchased land worth $54,000 for an office by paying $8,800 cash and signing a long-term note payable for $45,200. |
| c. |
The company purchased a portable building with $56,000 cash and moved it onto the land acquired in b. |
| d. |
The company paid $4,000 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 $6,100 cash. |
| f. |
The company purchased $32,000 of additional drafting equipment by paying $11,000 cash and signing a long-term note payable for $21,000. |
| g. |
The company completed $16,000 of engineering services for a client. This amount is to be received in 30 days. |
| h. |
The company purchased $1,850 of additional office equipment on credit. |
| i. |
The company completed engineering services for $24,000 on credit. |
| j. |
The company received a bill for rent of equipment that was used on a recently completed job. The $1,445 rent cost must be paid within 30 days. |
| k. |
The company collected $8,000 cash in partial payment from the client described in transaction g. |
| l. |
The company paid $1,500 cash for wages to a drafting assistant. |
| m. |
The company paid $1,850 cash to settle the account payable created in transaction h. |
| n. |
The company paid $1,045 cash for minor maintenance of its drafting equipment. |
| o. |
The company paid $9,500 cash in dividends. |
| p. |
The company paid $2,200 cash for wages to a drafting assistant. |
| q. |
The company paid $3,600 cash for advertisements on the Web during June. |
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