Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March March 3:58 1 Brooks invested $165,000 cash along with $27,000 in office equipment in the company in exchange for common stock. 2 The company prepaid $6,500 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $6,500. 3 The company made credit purchases of office equipment for $5,400 and office supplies for $2,400. Payment is due within 10 days. 6 The company completed services for a client and immediately received $4,500 cash. 9 The company completed a $7,100 project for a client, who must pay within 30 days. 12 The company paid $7,800 cash to settle the account payable created on March 3. 19 The company paid $4,200 dash for the premiun on a 12-month insurance policy. Nint: Debit Prepaid Insurance for $4,200. 22 The company received $3,800 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $3,730 on credit. 29 The company paid a $4,500 cash dividend. 30 The company purchased $1,800 of additional office supplies on credit. 31 The company paid $400 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); 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 View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Mar 01 Cash 165,000 22,000 30 Office equipment Common stock 187,000 2 Mar 02 6,500 Prepaid rent Cash 6,500 3 Mar 03 Office equipment Office supplies Accounts payable 5,400 2,400 7,800 4 Mar 06 4,500 Cash Services revenue 4,500 om Mar 09 7,100 Accounts receivable Services revenue 7.100 6 Mar 12 Accounts payable 7,800 Saved Help Save & Exit Subm. 6 Mar 12 7,800 Accounts payable Cash 7,800 7 Mar 19 4,200 Prepaid insurance Cash 4,200 8 Mar 22 Cash 3,800 Accounts receivable 3,800 9 Mar 25 Accounts receivable 3,730 Services revenue 3,730 10 Mar 29 4,500 Dividends Cash 4,500 11 Mar 30 1,800 Office supplies Accounts payable 1.800 12 Mar 31 400 Utilities expense Cash 400 Required 1 Required 2 > 101: Cash Debit Credit 106: Accounts Recelvable Debit Credit Date Balance Date Balance 124: Office Supplies Debit Credit 128: Prepaid Insurance Debit Credit Date Balance Date Balance 131: Prepaid Rent Debit Credit 163: Office Equipment Debit Credit Date Balance Date Balance Help Save & Exit Saved Submit 201: Accounts Payable Debit Credit 307: Common Stock Debit Credit Balance Date Date Balance 319: Dividends Debit Credit 403: Services Revenue Debit Credit Date Balance Date Balance 690: Utilities Expense Debit Credit Date Balance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a trial balance as of the end of March. VENTURE CONSULTANTS Trial Balance March 31 Debit Credit Totals $ 0 $ Dywele
