Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer all journal entry, T accounts and a trial balance, please don't send incomplete answers , Thank You! Problem 2-6A Recording transactions; posting to

Please answer all journal entry, T accounts and a trial balance, please don't send incomplete answers , Thank You! image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Problem 2-6A Recording transactions; posting to ledger, preparing a trial balance LO C3, A1, P1, P2 Business transactions completed by Hannah Venedict during the month of September are as follows a. Venedict invested $82,000 cash along with office equipment valued at $23,000 in exchange for common stock of a new company named HV Consulting b. The company purchased land valued at $45,000 and a building valued at $155,000. The purchase is with $30,000 cash and a long-term note payable for $170,000 c. The company purchased $2,100 of office supplies on credit d. Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $16,400 and is to be used exclusively in the business e. The company purchased $5,800 of additional office equipment on credit f. The company paid $1,900 cash salary to an assistant. g. The company provided services to a client and collected $7,000 cash. h. The company paid $650 cash for this month's utilities. i. The company paid $2,100 cash to settle the account payable created in transaction c. j. The company purchased $20,300 of new office equipment by paying $20,300 cash. k. The company completed $6,250 of services for a client, who must pay within 30 days I. The company paid $1,600 cash salary to an assistant m. The company received $4,000 cash in partial payment on the receivable created in transaction k n. The company paid $2,500 cash in dividends Required: 1. Prepare general joumal entries to record these transactions iew transaction list Journal entry worksheet 1 23 4 5 678 14 Venedict invested $82,000 cash along with office equipment valued at $23,000 in exchange for common stock of a new company named HV Consulting. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

High Performance Cloud Auditing And Applications

Authors: Keesook J. Han, Baek-Young Choi, Sejun Song

1st Edition

1493944355, 978-1493944354

More Books

Students also viewed these Accounting questions