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Denzel Brooks_Journal entries, Ledger accounts and Trial Balance

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Question;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.;31;The company paid $900;cash for this month's utility bill.;Prepare Journal entries, Ledger accounts;and Trial Balance

 

Paper#37247 | Written in 18-Jul-2015

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