Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March m and office supplitseeld Rent For tand med 1 Brooks invested $170,000 cash along with $29, en in office equipment in the company to exchange for common stock. 2 The company prepaid $8,500 cash for months rent for an officerint: babit Prepold Rent for 58,500 3* The company made credit purchases or office equiprent for $4,300 and office supplies for $1,900. Paynent is due within 10 days. 6 The company completed services for a client and Imediately received $6,500 cash. 9 The company completed a $9,300 project for a client, who must pay within 30 days 12 The company paid $6,200 cash to settle the account payable created on March 3.1 19 The company paid 54,300 cash for the premius on 12-Honth insurance policy. Hint: Debit Prepaid Insurance for $4,300. 22 The company received $3,600 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $3,979 on credit. 29 The company paid a $4,980 cash dividend. 30 The company purchased $1,900 of additional office supplies on credit 31 The company paid $1,200 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 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 45 Brooks invested $170,000 cash along with $29,000 in office equipment in the company in exchange for common stock. Note: Enter debits before credits. 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 4 5 6 7 Brooks Invested $170,000 cash along with $29,000 in office equipment in the company in exchange for common stock. Note: Enter debits before credits. General Journal Debit Credit Mar 01 Record entry Clear entry View general journal Required 2 > Post the journal entries from part 1 to the ledger accounts. 101: Cash Debit Credit 106: Accounts Receivable 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 Balance 201: Accounts Payable Debit Credit 307: Common Stock Debit Credit Date Balance Balanc 319 Dividends Debit Credit Date 403: Services Revenue Debit Credit Balance Date Balance 690: Utilities Expe Debit Balance Prepare a trial balance as of the end of March. VENTURE CONSULTANTS Trial Balance March 31 | Debit Credit E = 1 LE SALE = E ETTE CELE T E ETTER FESTES BETTER OTEL SERVIETTEL THE here TRE ALLAR TEST TESTET TEST TEATER Totals = TET
