Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions in March.
Question:
Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions in March.
Required 1. Prepare general journal entries to record these transactions (use the account titles listed in part 2).
2. Open the following ledger accounts-their account numbers are in parentheses (use the balance col- umn format): Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); D. Brooks. Capital (301); D. Brooks, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). Post the journal entries from part 1 to the ledger accounts and enter the balance after each posting.
3. Prepare a trial balance as of the end of March.
Step by Step Answer:
Fundamental Accounting Principles Volume 2
ISBN: 9780077716660
21st Edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta