Question

Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $80,000 cash along with office equipm ment v alued at $22,000 in exchange for common stock of a new company named HV Consulting one cem ny purble old 40.000 and a bulding valued at $170000The puchase ia paid with $30.0 cash and a long-term note payable for $180,000 c. The company purchased $1,600 of office supplies on credit er personal automobile in the company in exchange for more common stock. The automobile has a value of $16,700 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 S$1,700 cash salary to an assistant 9. The company provided services to a client and collected $7,600 cash. h. The company paid $640 cash for this month's utilities i. The company paid $1,600 cash to settle the account payable created in transaction c j. The company purchased $20,200 of new office equipment by paying $20,200 cash. k. The company completed $6,750 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 $2,800 cash in dividends Required: l entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office o8) Office Equipment (163), 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 balance as of the end of September Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Prepare general journal entries to record these transactions using the Supplies (108): Office Equipment (163); Automobiles (1 (250); Common following titles: Cash (101); Accounts Receivable (106); Office 64); Building (170); Land (172): Accounts Payable (201); Notes Payable Stock (307); Dividends (319); Fees Earned (402): Salaries Expense (601): and Utilities Expense (602) Show less Prev 8of8 Next

Answer 1

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