Item3

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Item 3

Business transactions completed by Hannah Venedict during the month of September are as follows.

Venedict invested $90,000 cash along with office equipment valued at $24,000 in a new business named HV Consulting in exchange for common stock.

The company purchased land valued at $45,000 and a building valued at $155,000. The purchase is paid with $25,000 cash and a note payable for $175,000.

The company purchased $2,100 of office supplies on credit.

Venedict invested an automobile in the company in exchange for more common stock. The automobile has a value of $16,800.

The company purchased $5,300 of additional office equipment on credit.

The company paid $1,900 cash salary to an assistant.

The company provided services to a client and collected $7,400 cash.

The company paid $645 cash for this months utilities.

The company paid $2,100 cash to settle the account payable created in transaction c.

The company purchased $20,300 of new office equipment by paying $20,300 cash.

The company completed $6,500 of services on credit for a client, who must pay within 30 days.

The company paid $1,500 cash salary to an assistant.

The company received $4,000 cash in partial payment on the receivable created in transaction k.

The company paid a $2,800 cash dividend.

Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (108); Office Equipment (163); Automobiles (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Consulting Revenue (403); Salaries Expense (601); and Utilities Expense (602). 2. Post the journal entries from part 1 to the ledger accounts.

Post the journal entries from part 1 to the ledger accounts. \begin{tabular}{|l|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{3}{|c|}{ 601: Salaries Expense } & \multicolumn{4}{|c|}{ 602: Utilities Expense } \\ \hline Transaction & Debit & Credit & Balance & Transaction & Debit & Credit & Balance \\ \hline \end{tabular} 3. riepale a ulai jaldile ds ui tie eilu ui sepleintel. Complete this question by entering your answers in the tabs below. Prepare a trial balance as of the end of September