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

March		1		Brooks invested $160,000 cash along with $26,000 in office equipment in the company in exchange for common stock.
		2		The company prepaid $10,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $10,000.
		3		The company made credit purchases of office equipment for $3,600 and office supplies for $2,200. Payment is due within 10 days.
		6		The company completed services for a client and immediately received $6,500 cash.
		9		The company completed a $8,900 project for a client, who must pay within 30 days.
		12		The company paid $5,800 cash to settle the account payable created on March 3.
		19		The company paid $6,000 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $6,000.
		22		The company received $3,700 cash as partial payment for the work completed on March 9.
		25		The company completed work for another client for $4,290 on credit.
		29		The company paid a $5,200 cash dividend.
		30		The company purchased $800 of additional office supplies on credit.
		31		The company paid $1,400 cash for this month's utility bill.

Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Common Stock (307); Dividends (319); Services Revenue (403); and Utilities Expense (690). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of March.

Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $160,000 cash along with $26,000 in office equipment in the company in exchange for common stock. 2 The company prepaid $10,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $10,000. 3 The company made credit purchases of office equipment for $3,600 and office supplies for $2,200. Payment is due within 10 days. 6 The company completed services for a client and immediately received $6,500 cash. 9 The company completed a $8,900 project for a client, who must pay within days. 12 The company paid $5,800 cash to settle the account payable created on March 3. 19 The company paid $6,000 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $6,000. 22 The company received $3,700 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $4,290 on credit. 29 The company paid a $5,200 cash dividend. 30 The company purchased $800 of additional office supplies on credit. 31 The company paid $1,400 cash for this month's utility bill. Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Common Stock (307); Dividends (319); Services Revenue (403); and Utilities Expense (690). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of March. 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 following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Common Stock (307); Dividends (319); Services Revenue (403); and Utilities Expense (690). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 12 > Brooks invested $160,000 cash along with $26,000 in office equipment in the company in exchange for common stock. Note: Enter debits before credits. General Journal Debit Credit Date Mar 01 Clear entry View general journal Record entry Post the journal entries from part 1 to the ledger accounts. 101: Cash Date Debit Credit Balance 124: Office Supplies Date Debit Credit Balance Date Balance Date Balance Date Balance Date Balance 131: Prepaid Rent Debit Credit 201: Accounts Payable Debit Credit 319: Dividends Debit Credit 690: Utilities Expense Debit Credit Date Date Date Date Date 106: Accounts Receivable Debit Credit 128: Prepaid Insurance Debit Credit 163: Office Equipment Debit Credit 307: Common Stock Debit Credit 403: Services Revenue Debit Credit Balance Balance Balance Balance Balance Prepare a trial balance as of the end of March. VENTURE CONSULTANTS Trial Balance March 31 Debit Totals Credit

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