Chapter 02. HW 9 Seved 6 pants look Problem 2-3A (Algo) Preparing and posting journal entries; preparing a trial balance LO A1, P1 Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks Invested $195,000 cash along with $29,200 in office equipment in the company in exchange for common stock. March 2 The company prepaid $9,500 cash for six months' rent for an office. Hintz Debit Prepaid Rent for $9,500. March 3 The company made credit purchases of office equipment for $3,100 and office supplies for $2,100. Payment is due within 10 days. March 6 The company completed services for a client and immediately received $4,500 cash. March 9 The company completed a $10,420 project on credit for a client, who must pay within 30 days. March 12 The company paid $5,200 cash to settle the account payable created on March 3. March 19 The company paid $5,200 cash for the premium on a 12-month insurance policy. Mintz Debit Prepaid Insurance for $5,200. March 22 The company received $4,680 cash as partial payment for the work completed on March 9, March 25 The company completed work for another client for $5,340 on credit. March 29 The company paid a $5,000 cash dividend. March 30 The company purchased $1,600 of additional office supplies on credit. March 31 The company paid $500 cash for this month's utility bill. Required: 1. Prepare general journal entries to record these transactions using the following sites: Cash (101) Accounts Receivable (106), Office Supplies (124) Prepaid Insurance (128) Prepaid Rent (131); Office Equipment (163) Accounts Payable (201); Common Stock (307). Dividends (319) Services Revenue (403) and Utilities Expense (690) 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of March. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Chapter 02. HW 9 Seved 6 pants look Problem 2-3A (Algo) Preparing and posting journal entries; preparing a trial balance LO A1, P1 Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks Invested $195,000 cash along with $29,200 in office equipment in the company in exchange for common stock. March 2 The company prepaid $9,500 cash for six months' rent for an office. Hintz Debit Prepaid Rent for $9,500. March 3 The company made credit purchases of office equipment for $3,100 and office supplies for $2,100. Payment is due within 10 days. March 6 The company completed services for a client and immediately received $4,500 cash. March 9 The company completed a $10,420 project on credit for a client, who must pay within 30 days. March 12 The company paid $5,200 cash to settle the account payable created on March 3. March 19 The company paid $5,200 cash for the premium on a 12-month insurance policy. Mintz Debit Prepaid Insurance for $5,200. March 22 The company received $4,680 cash as partial payment for the work completed on March 9, March 25 The company completed work for another client for $5,340 on credit. March 29 The company paid a $5,000 cash dividend. March 30 The company purchased $1,600 of additional office supplies on credit. March 31 The company paid $500 cash for this month's utility bill. Required: 1. Prepare general journal entries to record these transactions using the following sites: Cash (101) Accounts Receivable (106), Office Supplies (124) Prepaid Insurance (128) Prepaid Rent (131); Office Equipment (163) Accounts Payable (201); Common Stock (307). Dividends (319) Services Revenue (403) and Utilities Expense (690) 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of March. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3