Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March March 1 Brooks invested $180,000 cash along with $28,000 in office equipment in the company in exchange for common stock. 2 The company prepaid $8,500 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $8,50e. 3 The company made credit purchases of office equipment for $3,900 and office supplies for $2,000. Payment is due within 10 days. 6 The company completed services for a client and immediately received 55,500 cash. 9 The company completed a $10,700 project for a client, who must pay within 30 days. 12 The company paid $5,900 cash to settle the account payable created on March 3. 19 The company paid $7,300 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $7,300. 22 The company received 55,300 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $5,238 on credit. 29 The company paid a $7,100 cash dividend. 30 The company purchased $1,600 of additional office supplies on credit. 31 The company paid $1,300 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 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 (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). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 .. 12 Brooks Invested 5180,000 cash along with $28,000 in office equipment in the company in exchange for common stock Note: Enter debits before credits Date General Journal Debit Credit Mar 01 Record entry Clear entry View general journal MY WILIT P20,000 in office equipment in the company in exchange for common stock. Note: Enter debits before credits General Journal Date Mar 01 Debit Credit 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid Insurance Record er View general Journal Required 1 Required 2 > 5 of 6 to 124: Office Supplies Debit Credit Date Balance 128: Prepaid Insurance Debit Credit Date Balance Mar 9 Mar 12 Mar 19 131: Prepaid Rent Debit Credit 163: Office Equipment Debit Credit Mar 22 Balance Date Balance Mar 25 201: Accounts Payable Debit Credit 307: Common Stock Debit Credit Date Balance Date Balance 319: Dividends Debit Credit 403: Services Revenue Debit Credit Date Balanco Date Balance 690: Utilities Expense Debit Credit Balance Date 124: Office Supplies Debit Credit Date Balance 128: Prepaid insurance Debit Credit Date Balance Mar 22 Mar 25 Mar 29 131: Prepaid Rent Debit Credit 163: Office Equipment Debit Credit Balance Date Balance Mar 30 Mar 31 201: Accounts Payable 307: Common Stock Debit Credit Date Debit Credit Balance 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 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance Totals Required 2 Required 3 Prepare a trial balance as of the end of March. VENTURE CONSULTANTS Trial Balance March 31 Debit Credit 131: Prepaid rent 163: Office equipment 201: Accounts payable 307: Common stock 319: Dividends Totals .sk Prepare a trial balance as of the end of March. erences VENTURE CONSULTANTS Trial Balance March 31 Debit Credit 201: Accounts payable 307: Common stock 319: Dividends 403: Services revenue 690: Utilities expense Totals
