Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $190,000 cash along with $28,000 in office equipment in the company in exchange for common stock. March 2 The company prepaid $6,500 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $6,500. March 3 The company made credit purchases of office equipment for $4,800 and office supplies for $2,300. 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 $7,300 project on credit for a client, who must pay within 30 days. March 12 The company paid $7,100 cash to settle the account payable created on March 3. March 19 The company paid $5,400 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $5,400. March 22 The company received $5,100 cash as partial payment for the work completed on March 9. March 25 The company completed work for another client for $4,470 on credit. March 29 The company paid a $5,600 cash dividend. March 30 The company purchased $1,100 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 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.

Journal entry worksheet

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Brooks invested $190,000 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