Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $86,000 cash along with office equipment valued at $23,000 in exchange for common stock of a new company named HV Consulting b. The company purchased land valued at $45.000 and a building valued at $160,000. The purchase is paid with $30,000 cash and a long-term note payable for $175,000 C. The company purchased $1,800 of office supplies on credit. d. Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $16,500 and is to be used exclusively in the business e. The company purchased $5,600 of additional office equipment on credit. f. The company paid $1,500 cash salary to an assistant. g. The company provided services to a client and collected $7,600 cash. h. The company paid $640 cash for this month's utilities. i. The company paid $1,800 cash to settle the account payable created in transaction c. J. The company purchased $20,400 of new office equipment by paying $20,400 cash. k. The company completed $7,000 of services for a client, who must pay within 30 days. 1. The company paid $1,700 cash salary to an assistant. m. The company received $4,500 cash in partial payment on the receivable created in transaction k. n. The company paid $2,700 cash in dividends. Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (108): Office Equipment (163); Automobiles (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Fees Earned (402); Salaries Expense (601); and Utilities Expense (602). 2. Post the journal entries from part 1 to the ledger accounts 3. Prepare a trial balance as of the end of September Journal entry worksheet 1 2 3 4 5 6 Venedict invested $86,000 cash along with office equipment valued at $23,000 in exchange for common stock of a new condpany named HV Consulting. Note: Enter debits before credits. Tranasaction Account Title Debit Credit TTT 1. I Record entry Clear entry View general journal 101: Cash Debit Credit 106: Accounts Receivable Debit Credit Transaction Balance Transaction Balance 108: Office Supplies Debit Credit 163: Office Equipment Debit Credit Transaction Balance Transaction Balance 164: Automobiles Debit Credit 170: Building Debit Credit Transaction Balance Transaction Balance 172: Land Credit 201: Accounts Payable D ebit Credit Transaction Debit Balance Transaction Balance 250: Notes Payable Debit Credit 307: Common Stock Debit Credit Transaction Balance Transaction Balance 319: Dividends Debit Credit Transaction 402: Fees Earned Debit Credit Balance Transaction Balance 601: Salaries Expense Debit Credit 602: Utilities Expense Debit Credit Transaction Balance Transaction Balance HV CONSULTING Trial Balance September 30 Debit Credit II. MALIN - SI UN Totals
