Answered step by step
Verified Expert Solution
Question
1 Approved Answer
This is for Required 1 it is a 1-14 part question i have showed all 14 parts that i need help with Business transactions completed
This is for Required 1 it is a 1-14 part question i have showed all 14 parts that i need help with
Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $90,000 cash along with office equipment valued at $21,000 in a new business named HV Consulting in exchange for common stock b. The company purchased land valued at $50,000 and a building valued at $155,000. The purchase is paid with $35.000 cash and a note payable for $170,000 c. The company purchased $2.500 of office supplies on credit d. Venedict invested an automobile in the company in exchange for more common stock. The automobile has a value of $16,400 e. The company purchased 55.200 of additional office equipment on credit 1. The company paid $1,800 cash salary to an assistant 9. The company provided services to a client and collected 57.600 cash h. The company paid $630 cash for this month's uites L. The company paid $2.500 cash to settle the account payable created in transaction J. The company purchased 520,300 of new office equipment by paying $20,300 cash k. The company completed $7000 of services on credit for a client, who must pay within 30 days L. 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 a $2.700 cash dividend Required: 1. Prepare general journal entries to record these transactons using the following thies: Cash (100; Accounts Receivable (106), Office Supplies (108) Omice Equipment (163) Automobiles (164) Building (170x, Land (172. Accounts Payable (204 Notes Payable (250) Common Stock (307). Dividends (319). Consulting Revenue (403) Salaries Expense (60 and Urines Expense (602) 2. Post the journal entries from part to the ledger accounts 3. Prepare a trial balance as of the end of September Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 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). View transactions 14 > Venedict invested $90,000 cash along with office equipment valued at $21,000 in a new business named HV Consulting in exchange for common stock at - for The company purchased land valued at $50,000 and a building valued at $155,000. The purchase is paid with $35,000 cash and a note payable for $170,000 3 The company purchased $2,500 of office supplies on credit Credit Venedict invested an automobile in the company in exchange for more common stock. The automobile has a value of $16,400 Note - journal entry has been entered g. The company provided services to a Cilent and collected $7.00u can h. The company paid $630 cash for this month's utilities 1. The company paid $2,500 cash to settle the account payable created in transactionc J. The company purchased $20,300 of new office equipment by paying $20,300 cash k. The company completed $7000 of services on credit for a client, who must pay within 30 days. 1. The company pold $1,600 cash salary to an assistant. m. The company received $4,000 cash in partial payment on the receivable created in transaction & n. The company paid a $2700 cash dividend Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (onAccounts Receivable (106) Supplies (108) Office Equipment (163), Automobiles (164), Building (170). Land (172. Accounts Payable (201): Notes Payable (250) Common Stock 307% Dividends 319), Consulting Revenue (403x Salates Expense (60 and Utilities Expense (602) 2. Post the journal entres from part to the ledger accounts 3. Prepare a trial balance as of the end of September Complete this question by entering your answers in the tabs below. Required: Required 2 Required 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). View transactions X 14 Venedict invested an automobile in the company in exchange for more common stock. The automobile has a value of $16,400 $21,000 5. The company purchased $5,200 of additional office equipment on credit 6 The company paid $1,800 cash salary to an assistant Credit 7. The company provided services to a dient and collected $7,500 cash The company paid $630 cash for this month's utilities 2 The company paid $2,500 cash to settle the account Note: - journal entry has been entered Record entry Clearly Verwal journal Required 2 > 9. The company provide services to acent and cose 750 ca h. The company paid $630 cash for this month's utiles 1. The company paid $2.500 cash to settle the account payable created in transactions ]. The company purchased $20,300 of new office equipment by paying 520,300 cash k. The company completed 57,000 of services on credit for a client, who must pay within 30 days 1. The company paid $1600 cash salary to an assistant m. The company received $4,000 cash in partial payment on the receivable created in transaction n. The company paid a $2.700 cash dividend Required: 1. Prepare general journal entries to record these transactions using the flowing utes. Cashion Accounts Receivable (106). Office Supplies (108) Office Equipment (163) Automobiles (1641. Buliding (1701 Land (172). Accounts Payable (204. Notes Payable (250) Common Stock (3071 Dividends (319). Consulting Revenue 4031 Salaries Expense (60 and Us Expense (602 2. Post the journal entries from part to the ledger accounts 3. Prepare a trial balance as of the end of September Complete this question by entering your answers in the tabs below. Hequired Required 2 Required 3 Prepare general journal entries to record these transactions using the following ties: Cash (101) Accounts Receivable (106) Office Supplies (108); Office Equipment (163); Automobiles (154) Bding (170): Land (172); Accounts Payable (201): Notes Payable (250) Common Stock (307): Dividends (319). Consulting Revenue (403): Salaries Expense (601), and Utilities Expense (602) View transaction ist x The company paid $2,500 cash to settle the account payable created in transaction 14 > $21,000 10 The company purchased $20,300 of new office equipment by paying 520,300 cash. 11 The company completed $7,000 of services on credit for s cient, who must pay within 30 days. 12 The company paid $2,600 cash salary to an assistant A 13 The company received $4.000 cash in partial payment on the receivable created in transaction 14 The company paid a $2,700 cash dividendi Note: - Journal entry has been entered Record entry Wewal journal Required 2 > Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started