Shelton Engineering completed the following transactions in the month of June.
a.
Shana Shelton, the owner, invested $105,000 cash, office equipment with a value of $6,000, and $45,000 of drafting equipment to launch the company in exchange for common stock.
b.
The company purchased land worth $54,000 for an office by paying $5,400 cash and signing a long term note payable for $48,600.
c.
The company purchased a portable building with $75,000 cash and moved it onto the land acquired in b.
d.
The company paid $6,000 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 $5,700 cash.
f.
The company purchased $22,500 of additional drafting equipment by paying $10,500 cash and signing a long-term note payable for $12,000.
g.
The company completed $12,000 of engineering services for a client. This amount is to be received in 30 days.
h.
The company purchased $2,250 of additional office equipment on credit.
i.
The company completed engineering services for $18,000 on credit.
j.
The company received a bill for rent of equipment that was used on a recently completed job. The $1,200 rent cost must be paid within 30 days.
k.
The company collected $7,200 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 $2,250 cash to settle the account payable created in transaction h.
n.
The company paid $675 cash for minor maintenance of its drafting equipment.
o.
The company paid $9,360 cash for dividends.
p.
The company paid $1,500 cash for wages to a drafting assistant.
q.
The company paid $3,000 cash for advertisements in the local newspaper during June.
Required:
1.
Record these transactions using the following titles: Cash, Accounts Receivable, Prepaid Insurance, Office Equipment, Drafting Equipment, Building, Land, Accounts Payable, Notes Payable, Common Stock, Dividends, Engineering Fees Earned, Wages Expense, Equipment Rental Expense, Advertising Expense, and Repairs Expense.(Omit the “$” sign in your response.)
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Achiever Papers is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Dissertation Writing Service Works
First, you will need to complete an order form. It's not difficult but, if anything is unclear, you may always chat with us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download