Question

Help 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 $24,000 in exchange for common stock of a new company named HV purchased land valued at $30,000 and a building valued at $150,000. The purchase is paid with $30,000 cash and a long-term note payable for $150,000 d $1,700 of office supplies on credit. c. The company d. Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $16,300 and is to be used exclusively in the business. e. The company purchased $5,600 of additional office equipment on credit f. The company paid $2,000 cash salary to an assistant. g. The company pr services to a client and collected $7,800 cash. The company paid $640 cash for this month's utilities. i. The company paid $1,700 cash to settle the account payable created in transaction c j. The company purchased $20,000 of new office equipment by paying $20,000 cash. References h. k. The company completed $6,750 of services for a client, who must pay within 30 days. I. The company paid $1,900 cash salary to an assistant. m. The company received n. The company paid $2,700 cash in dividends $3,500 cash in partial payment on the receivable created in transaction k. 1. Prepare general journal entries to record these transactions using the following titles: Cash (10): Accounts Receivable (106); Office Supplies (108; Office Equipment (16.3), Automobiles (164); Building (170); Land (172) Accounts Payable (201;: Notes Payable (250), Common Stock (307), Dividends (319) Fees Earned (402): Salaries Expense (601); and Utilities Expense (602). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial e as of the end of September Complete this question by entering your answers in the tabs below.

Answer 1