Shelton Engineering completed the following transactions in the month of June.

Date Transaction
June 1 Shana Shelton, the owner, invested Rwf105,000 cash, office equipment with a value of Rwf6,000, and Rwf45,000 of
drafting equipment to launch the company.
4 The company purchased land worth Rwf54,000 for an office by paying Rwf5,400 cash and signing a long-term note
payable for Rwf48,600.
8 The company purchased a portable building with Rwf75,000 cash and moved it onto the land acquired on 4th.

10 The company paid Rwf6,300 cash for the premium on an 18-month insurance policy.
14 The company completed and delivered a set of plans for a client and collected Rwf5,700 cash.
15 The company purchased Rwf22,500 of additional drafting equipment by paying Rwf10,500 cash and signing a long-term
note payable for Rwf12,000.
17 The company completed Rwf12,000 of engineering services for a client. This amount is to be received in 30 days.

18 The company purchased Rwf2,250 of additional office equipment on credit.

19 The company completed engineering services for Rwf18,000 on credit.
20 The company received a bill for rent of equipment that was used on a recently completed job. The Rwf1,200 rent cost must
be paid within 30 days.
21 The company collected Rwf7,200 cash in partial payment from the client on 19th June.
22 The company paid Rwf1,500 cash for wages to a drafting assistant.
24 The company paid Rwf2,250 cash to settle the account payable created on the 18th.
27 The company paid Rwf675 cash for minor maintenance of its drafting equipment.
29 S. Shelton withdrew Rwf9,360 cash from the company for personal use.
30 Depreciation for the month was as follows: Office equipment Rwf 500;
Building Rwf 600
Drafting equipment Rwf 1,500;
30 The company paid Rwf1,500 cash for wages to a drafting assistant.
30 The company paid Rwf3,000 cash for advertisements in the local newspaper during June.

Required
1. Prepare general journal entries to record these transactions (Cash; Accounts Receivable; Prepaid
Insurance; Office Equipment; Accumulated depreciation-Office Equipment; Drafting Equipment;
Accumulated depreciation-Drafting Equipment; Building; Accumulated depreciation-Building; Land;
Accounts Payable; Notes Payable; S. Shelton, Capital; S. Shelton, Withdrawals; Engineering Fees
Earned; Wages Expense; Equipment Rental Expense; Advertising Expense; Repairs Expense; and
Depreciation expense. Post the journal entries from part 1 to the accounts and enter the balance after
each posting.
2. Prepare a trial balance as of the end of April.
3. Prepare the income statement, statement of owner’s equity and a balance sheet.