Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March March 1 Brooks invested $175,000 cash along with $26,000 n office equipment in the company in exchange for common stock 2 The company prepaid $6,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $6,000.) 3 The company made credit purchases of office equipment for $3,800 and office supplies for $2,200. 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 $10,900 project for a client, who must pay within 30 days 12 The company paid $6,000 cash to settle the account payable created on March 3 19 The company paid $6,400 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $6,400. 22 The company received $4,000 cash as partial payment for the work completed on March 9 25 The company completed work for another client for $5,330 on credit 29 The company paid $5,400 cash in dividends. 30 The company purchased $1,700 of additional office supplies on credit 31 The company paid $1,400 cash for this month's utility bill Required Supplies (124); Prepaid Insurance (128): Prepaid Rent (131); Office Equipment (163); Accounts Payable (201): Common Stock (307) 2. Post the journal entries from part 1 to the ledger accounts 1. Prepare general journal entries to record these transactions using the following titles: Cash (101), Accounts Receivable (106); Office Dividends (319): Services Revenue (403): and Utilities Expense (690). 3. Prepare a trial balance as of the end of March. Complete this question by entering your answers in the tabs below Journal entry worksheet 1234 5 6 78 12 Brooks invested $175,000 cash along with $26,000 in office equipment in the company in exchange for common stock. Note: Enter debits before credits. Date General Journal Debit Credit Mar 01 Clear entry Record entry View general journal Journal entry worksheet 4 The company prepaid $6,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $6,000.) Note: Enter debits before credits. Debit Date General Journal Credit Mar 02 Record entry Clear entry View general journal Journal entry worksheet 1213145678 12 The company made credit purchases of office equipment for $3,800 and office supplies for $2,200. Payment is due within 10 days Note: Enter debits before credits. Date General Journal Debit Credit Mar 03 Clear entry Record entry View general journal Journal entry worksheet K123 4 5 678 12 The company completed services for a client and immediately received $4,500 cash. Note: Enter debits before credits. Date General Journal Debit Credit Mar 06 Record entry Clear entry View general journal Journal entry worksheet 7 The company completed a $10,900 project for a client, who must pay within 30 days. Note: Enter debits before credits. Date General Journal Debit Credit Mar 09 Record entry Clear entry View general journal Journal entry worksheet K1234 5 6 78 12 The company paid s6,000cash to settie he account payable created on Harch 3. Note: Enter debits before credits. Debit Date General Journal Credit Mar 12 Record entry Clear entry View general journal Journal entry worksheet K1234 5 6 78 12 The company paid $6,400 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $6,400.) Note: Enter debits before credits. Date General Journal Debit Credit Mar 19 Record entry Clear entry View general journal Journal entry worksheet K1234 5 678.... 12 The company received $4,000 cash as partial payment for the work completed on March 9 Note: Enter debits before credits. Debit Date General Journal Credit Mar 22 Record entry Clear entry View general journal Journal entry worksheet K1.... 4 5 678 9 The company completed work for another client for $5,330 on credit. Note: Enter debits before credits. Date General Journal Debit Credit Mar 25 Clear entry Record entry View general journal Journal entry worksheet 567 910 The company paid $5,400 cash in dividends. Note: Enter debits before credits. Debit Credit Date General Journal Mar 29 Record entry Clear entry View general journal Journal entry worksheet K1.... 5 6 789 10 12 The company purchased $1,700 of additional office supplies on credit. Note: Enter debits before credits. Credit Date General Journal Debit Mar 30 View general journal Record entry Clear entry Journal entry worksheet 1 5 6 7 8 9 10 11 12 The company paid $1,400 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 101: Cash 106: Accounts Receivable Date Debit Credit Balance Date Debit Credit Balance 124: Office Supplies Debit 128: Prepaid Insurance Date Credit Date Debit Credit Balance Balance 131: Prepaid Rent Debit 163: Office Equipment Debit Date Credit Balance Date Credit Balance 201: Accounts Payable Debit 307: Common Stock Date Credit Date Debit Credit Balance Balance 319: Dividends 403: Services Revenue Date Debit Credit Balance Date Debit Credit Balance 690: Utilities Expense Debit Date Credit Balance Prepare a trial balance as of the end of March VENTURE CONSULTANTS Trial Balance March 31 Debit Credit Totals
