Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $170,000 cash along with $23,000 in office equipment in the company. 2 The company prepaid $8,500 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $8,500. 3 The company made credit purchases of office equipment for $5,000 and office supplies for $1,700. Payment is due within 10 days. 6 The company completed services for a client and immediately received $4,000 cash. 9 The company completed a $11,500 project for a client, who must pay within 30 days. 12 The company paid $6,700 cash to settle the account payable created on March 3. 19 The company paid $6,500 cash for the prenium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $6,500. 22 The company received $3,900 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $5,370 on credit. 29 Brooks withdrew $7,100 cash fron the company for personal use. 30 The conpany purchased $700 of additional office supplies on credit. 31 The company paid $1,000 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 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 (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). View transaction list Journal entry worksheet 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 (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). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 12 Brooks invested $170,000 cash along with $23,000 in office equipment in the company Note: Enter debits before credits Date General Journal Debit Credit Mar 01 Record entry Clear entry View general journal 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 (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). View transaction list Journal entry worksheet The company paid $6,500 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $6,500.) Note: Enter debits before credits General Journal Debit Date Mar 19 Credit Record entry Clear entry View general Journal 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 (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). View transaction list Journal entry worksheet Brooks withdrew $7,100 cash from the company for personal use. Note: Enter debits before credits General Journal Debit Credit Date Mar 29 Record entry Clear entry View general journal 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 (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). View transaction list Journal entry worksheet The company paid $1,000 cash for this month's utility bill. Note: Enter debits before credits Date General Journal Debit Credit Mar 31 Record entry Clear entry View general journal Saved Required 1 Required 2 Required 3 Post the journal entries from part 1 to the ledger accounts. Date 101: Cash Debit Credit Balance Date 106: Accounts Receivable Debit Credit Balance 124: Office Supplies Debit Credit Date Balance 128: Prepaid Insurance Debit Credit Date Balance 131: Prepaid Rent Debit Credit Date Balance 163: Office Equipment Debit Credit Date Balance 201: Accounts Payable Debit Credit 301: D. Brooks, Capital Debit Credit Date Balance Date Balance Date Debit Credit Balance Date Debit Credit Balance 131: Prepaid Rent Debit Credit Date 163: Office Equipment Debit Credit Balance Date Balance 201: Accounts Payable Debit Credit Date 301: D. Brooks, Capital Debit Credit Balance Date Balance 302: D. Brooks, Withdrawals Debit Credit 403: Services Revenue Debit Credit Date Balance Date Balance 690: Utilities Expense Debit Credit Date Balance
