The following information applies to the questions displayed

The following information applies to the questions displayed below Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions in March. rch Brooks invested $195,000 cash along with $21,000 in office equipment in the company in exchange for common stock The company prepaid $6,500 cash for six months\' rent for an office. (Hlint Debit Prepaid Rent for $6,50O) 3 The company made credit purchases of office equipment for $3.000 and office supplies for $1,300. Payment is due within 10 days The company completed services for a client and immediately received $5,500 cash The company completed a $12,100 project for a client, who must pay within 30 days The company paid $4,300 cash to settle the account payable created on March 3 The company paid $5,100 cash for the premium on a 12-month insurance policy. (Hint Debit Prepaid Insurance for $5,100) 2 The company received $5400 cash as partial payment for the work completed on March 9 The company completed work for another client for $4,020 on credit The company paid $6,500 cash in dividends The company purchased $1,500 of additional office supplies on credit H The company paid $1,400 cash for this month\'s utility bill. 1. 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) Journal entry worksheet Brooks invested $195,000 cash ong \"th $21,000 in office ewoment in the company in exchange for common stock Nate: Enter

Solution

March 01

March 02

March 03

March 06

March 09

March 12

March 19

March 22

March 25

March 29

March 30

March 31

Solution:
	Venture Consultants
Date	General Journal	Debit	Credit
March 01	Cash	195,000
	Office equipment	21,000
	Common stock		216,000
March 02	Prepaid rent	6,500
	Cash		6,500
March 03	Office equipment	3,000
	Office supplies	1,300
	Accounts payable		4,300
March 06	Cash	$5,500
	Services revenue		$5,500
March 09	Accounts receivable	12,100
	Services revenue		12,100
March 12	Accounts payable	4,300
	Cash		4,300
March 19	Prepaid insurance	5,100
	Cash		5,100
March 22	Cash	5,400
	Accounts receivable		5,400
March 25	Accounts receivable	4,020
	Services revenue		4,020
March 29	Dividends	6,500
	Cash		6,500
March 30	Office supplies	1,500
	Accounts payable		1,500
March 31	Utilities expense	1,400
	Cash		1,400
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