Question

Check my work 7. BOOK 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 $22.000 in a new business named HV Consulting in exchange for common stock. b. The company purchased and valued at $50,000 and a building valued at $165,000. The purchase is paid with $30,000 cash and a long-term note payable for $185.000 c. The company purchased $2,000 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 $16.700 and is to be used exclusively in the business e. The company purchased $5.900 of additional office equipment on credit. 1. The company paid $1.700 cash salary to an assistant 9. The company provided services to a client and collected $7600 cash. h. The company paid $640 cash for this month's utilities 1. The company paid $2.000 cash to settle the account payable created in transaction j. The company purchased $20,000 of new office equipment by paying $20,000 cash k. The company completed $6.500 of services for a client, who must pay within 30 days. 1. The company paid $1,800 cash salary to an assistant m. The company received $3.500 cash in partial payment on the receivable created in transaction n. The company paid a $2.800 cash dividend. were Reniert G < Prex 4 of 4 !!! Ne 10:37 $ 3 5 & 7 6 8 9 0 w е e r t Y У o S d g h j k K c С b n

Answer 1

		REQUIREMENT 1
No.	Transaction	Accounts Title & Explanation	Debit	Credit
1	a	Cash	$90,000
		Office Equipment	$22,000
		Common Stock		$1,12,000
2	b	Building	$50,000
		Land	$1,65,000
		Cash		$30,000
		Notes Payables		$1,85,000
3	c	Office Supplies	$2,000
		Accounts Payable		$2,000
4	d	Automobiles	$16,700
		Common Stock		$16,700
5	e	Office Equipment	$5,900
		Accounts Payable		$5,900
6	f	Salaries Expense	$1,700
		Cash		$1,700
7	g	Cash	$7,600
		Fees Earned		$7,600
8	h	Utilities Expense	$640
		Cash		$640
9	i	Accounts Payable	$2,000
		Cash		$2,000
10	j	Office Equipment	$20,000
		Cash		$20,000
11	k	Accounts Receivable	$6,500
		Fees Earned		$6,500
12	l	Salaries Expense	$1,800
		Cash		$1,800
13	m	Cash	$3,500
		Accounts Rceivables		$3,500
14	n	Dividends	$2,800
		Cash		$2,800

REQUIREMENT 2
101:Cash					106:Accounts Receivables
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance
a	$90,000		$90,000		k	$6,500		6500
b		$30,000	$60,000		m		$3,500	$3,000
f		$1,700	$58,300
g	$7,600		$65,900
h		$640	$65,260
i		$2,000	$63,260
j		$20,000	$43,260
l		$1,800	$41,460
m	$3,500		$44,960
n		$2,800	$42,160
108:Office Supplies					163:Office Equipment
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance
c	$2,000		$2,000		a	$22,000		$22,000
					e	$5,900		$27,900
					j	$20,000		$47,900
164:Automobiles					170:Buildings
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance
d	$16,700		$16,700		b	$50,000		$50,000
172:Land					201:Accounts Payables
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance
b	$1,65,000		$1,65,000		c		$2,000	$2,000
					e		$5,900	$7,900
					i	$2,000		$5,900
250:Notes Payables					307:Common Stock
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance
b		$1,85,000	$1,85,000		a		$1,12,000	$1,12,000
					d		$16,700	$1,28,700
319:Dividends					402:Fees Earned
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance
n	2800		$2,800		g		$7,600	$7,600
					k		$6,500	$14,100
601:Salaries Expense					602:Utilities Expense
Transaction	Debit	Credit	Balance		Transaction	Debit	Credit	Balance
f	$1,700		$1,700		h	$640		$640
l	$1,800		$3,500

REQUIREMENT 3
HV CONSULTING
Trial Balance
Sep-30
	Debit	Credit
Cash	$42,160
Accounts Receivables	$3,000
Office Supplies	$2,000
Office Equipment	$47,900
Automobiles	$16,700
Buildings	$50,000
Land	$1,65,000
Accounts Payables		$5,900
Notes Payables		$1,85,000
Common Stock		$1,28,700
Dividends	$2,800
Fees Earned		$14,100
Salaries Expense	$3,500
Utilities Expense	$640
Totals	$3,33,700	$3,33,700