Denzel Brooks_Journal entries, Ledger accounts and Trial Balance

profileaccountguru
 (Not rated)
 (Not rated)
Chat

 

Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions in March.

 

 

 March 1  

Brooks invested $180,000 cash along with $22,000 in office equipment in exchange for common stock.

2  

The company prepaid $7,500 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $7,500.)

3  

The company made credit purchases of office equipment for $2,800 and office supplies for $1,300. Payment is due within 10 days.

6  

The company completed services for a client and immediately received $6,000 cash.

9  

The company completed a $12,100 project for a client, who must pay within 30 days.

12  

The company paid $4,100 cash to settle the account payable created on March 3.

19  

The company paid $7,000 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $7,000.)

22  

The company received $5,400 cash as partial payment for the work completed on March 9.

25  

The company completed work for another client for $5,170 on credit.

29  

The company paid $4,900 cash in dividends.

30  

The company purchased $500 of additional office supplies on credit.

 

The company paid $900 cash for this month's utility bill.

 

Prepare Journal entries, Ledger accounts and Trial Balance

 

    • 10 years ago
    Denzel Brooks_Journal entries, Ledger accounts and Trial Balance
    NOT RATED

    Purchase the answer to view it

    blurred-text
    • attachment
      denzel_brooks_journal_entries_ledger_accounts_and_trial_balance.xlsx