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Business transactions completed by Hannah Venedict during the month of September are as follows Business transactions completed by Hannah Venedict during the month of September
Business transactions completed by Hannah Venedict during the month of September are as follows
Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $82,000 cash along with office equipment valued at $22,000 in a new business named HV Consulting in exchange for common stock. b. The company purchased land valued at $35,000 and a building valued at $160,000. The purchase is paid with $25,000 cash and a long-term note payable for $170,000. c. The company purchased $1,700 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 $5,100 of additional office equipment on credit. f. The company paid $1,900 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. The company paid $1,700 cash to settle the account payable created in transaction c. J. The company purchased $20,200 of new office equipment by paying $20.200 cash. k. The company completed $6,250 of services for a client, who must pay within 30 days. 1. The company paid $1,800 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 a $2,800 cash dividend. 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 Required 1 Required Required 2 Required Post the journal entries from part I to the ledger counts Transaction 101: Cash Debit Credit Balance 108: Accounts Receivable Debit Credit on Balance 108: Office Supplies Debit Credit 163: Office Equipme Debit Crew Transaction Balance Transaction Balance 184: Automobiles Debit Credit ransaction 172: Land 201: Account Payable Doble Cream Balance Transaction Debit Credit AP NU 3071 Common Stock 250: Notes Payable Debt Transaction Prev 1 of 3 Next > Transaction Debit Credit Balance Transaction Debit Cre r PHP Transaction 172: Land Credit Debit Transaction 201: Accounts Payable Debit Credit Balance Transaction 250: Notes Payable Debit Credit Balance 307. Common Stock Debit Credit Transaction Balance LE BE 319: Dividends Debit Credit Transaction 402: Fees Farned Debit Credit Balance 601: Salaries Expense Debit Credit 602 Ulities Expenses Debit Credit Transaction Balanc Transaction Balance Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Prepare a trial balance as of the end of September. HV CONSULTING Trial Balance September 30 Debit Credit Step by Step Solution
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