Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $150, eee cash along with $22,000 in office equipment in the company. 2 The company prepaid $6,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $6,ese. 3. The company made credit purchases of office equipment for $3,880 and office supplies for $1,200. Payment is due within 10 days. 6 The company completed services for a client and immediately received $4, eee cash. 9 The company completed a $7,500 project for a client, who must pay within 30 days. 12 The company paid $4, 2ee cash to settle the account payable created on March 3. 19 The company paid $5,000 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $5, eee. 22 The company received $3,5ee cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $3,820 on credit. 29 Brooks withdrew $5,100 cash from the company for personal use. 30 The company purchased $688 of additional office supplies on credit. 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 titles: 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). 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 qus 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 Receiver (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); D. Books, Capital (301); D. Brooks, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). View transaction list Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $150, eee cash along with $22,000 in office equipment in the company. 2 The company prepaid $6,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $6,ese. 3. The company made credit purchases of office equipment for $3,880 and office supplies for $1,200. Payment is due within 10 days. 6 The company completed services for a client and immediately received $4, eee cash. 9 The company completed a $7,500 project for a client, who must pay within 30 days. 12 The company paid $4, 2ee cash to settle the account payable created on March 3. 19 The company paid $5,000 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $5, eee. 22 The company received $3,5ee cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $3,820 on credit. 29 Brooks withdrew $5,100 cash from the company for personal use. 30 The company purchased $688 of additional office supplies on credit. 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 titles: 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). 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 qus 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 Receiver (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); D. Books, Capital (301); D. Brooks, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). View transaction list
