Aracel Engineering completed the following transactions in the
month of June.
Jenna Aracel, the owner, invested $230,000 cash, office
equipment with a value of $6,900, and $70,000 of drafting equipment
to launch the company in exchange for common stock.
The company purchased land worth $58,000 for an office by
paying $8,100 cash and signing a long-term note payable for
$49,900.
The company purchased a portable building with $55,000 cash and
moved it onto the land acquired in b.
The company...