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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
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 $21,000 in a new business named HV Consulting in exchange for common stock. b. The company purchased land valued at $40.000 and a building valued at $160.000. The purchase is paid with $30,000 cash and a long-term note payable for $170,000. Ic 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 $16.200 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 $1.600 cash salary to an assistant g. The company provided services to a client and collected $7.600 cash. h. The company paid $645 cash for this month's utilities. IL The company paid $1.800 cash to settle the account payable created in transaction c. J. The company purchased $20,000 of new office equipment by paying $20.000 cash. k. The company completed $6.500 of services for a client, who must pay within 30 days. I The company paid $1.600 cash salary to an assistant m. The company received $4,000 cash In partial payment on the receivable created in transaction k n. The company pald 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 (1721; Accounts Payable (201); Notes Payable (250): Common Stock (307): Dividends (319) Fees Earned (4021: Salarles 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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). Show less Tranasaction Account Title Debit Credit 108 Ascounts Receivable Debit Credit Trancation Debit Credit Balance Transaction Bala 10: Ompe Eoimen De Credit Binge 201: Accounts Payable Trancsotion Credit Balance 260: Nota Payable Debt Credit 307: Common took Debit Credit Transaction Balance 1: Didende Debit Credit Balance t: Bares Expence Credit Balance Credits Prepare a trial balance as of the end of September HV CONSULTING Trial Balance September 30 Debit Credit Totals S 0 S
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