Question

xM Dsa Student ewconnect Help Save Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March. $185,000 cash along with $23,000 n office equipment in the company in exchange for cosmon March 1 Brooks inveated 2 The company prepaid $9,500 cash for six sontha rent for an office. (lints Debit Prepaid Rent for $9, s00.) 3 The company made credit purchases of office equipment for $3, 60o and office supplies for $1,200. Payment ia due 6 The company completed services for a client and imediately received $6,500 cash. 9 The company completed a $7,200 project for a client, who nust pay vithin 30 days. 12 The company paid $4,800 cash to settle the account payable created on Harch 3. 19 The company paid $6,00 0 cash for the premiun on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $6,000-) 22 The company received $3,300 cash as partial payment for the work completed on March 9. 25 The company completed work for another elient tor $3,850 on credit. 29 The company paid $6,700 cash in dividenda 30 The company purchased $600 of additional office supplies on credit. 31 The company paid $1,000 cash for thia nonth's utility bill. Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (10): Accounts Receivable (106), Office Supplies (124); Prepaid Insurance (128): Prepaid Rent (131); Office Equipment (163): Accounts Payable (201); Common Stock (307) Dividends (319) Services Revenue (403); and Utilities Expense (690) 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of March. Complete this question by entering your answers in the tabs below.

Answer 1

Date		Account Title	Debit	Credit
March	1	Cash	$185,000
		Office Equipment	$23,000
		Common Stock		$208,000
	2	Prepaid Rent	$9,500
		Cash		$9,500
	3	Office Equipment	$3,600
		Office Supplies	$1,200
		Accounts payable		$4,800
	6	Cash	$6,500
		Service Revenue		$6,500
	9	Accounts Receivable	$7,200
		Service Revenue		$7,200
	12	Accounts Payable	$4,800
		Cash		$4,800
	19	Prepaid Insurance	$6,000
		Cash		$6,000
	22	Cash	$3,300
		Accounts Receivable		$3,300
	25	Accounts Receivable	$3,850
		Service Revenue		$3,850
	29	Dividend	$6,700
		Cash		$6,700
	30	Office Supplies	$600
		Accounts payable		$600
	31	Utilities expense	$1,000
		Cash		$1,000