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Denzel Brooks opens a Web consulting business ca...




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 $30,000 of office equipment in the company. 2 The company prepaid $8,000 cash for six months' rent for an office. 3 The company made credit purchases of office equipment for $3,300 and office supplies for $1,400. 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 $9,200 project for a client, who must pay within 30 days. 12 The company paid $4,700 cash to settle the account payable created on March 3. 19 The company paid $7,500 cash for the premium on a 12-month insurance policy. 22 The company received $4,300 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $3,590 on credit. 29 Brooks withdrew $4,900 cash from the company for personal use. 30 The company purchased $1,700 of additional office supplies on credit. 31 The company paid $500 cash for this month's utility bill. Prepare general journal entries to record these transactions.


Paper#6555 | Written in 18-Jul-2015

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