Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions. March 1 Brooks invested S180,000 cash along with $30,000 of office equipment in the company. March 2 The company paid $1,350 cash for the current month's rent for an office. The company made purchases of office equipment for $3,300 and office supplies for $1,400 on March 3 account. March 6 The company completed and delivered services for a client and immediately received $6,000 cash. March 9 The company completed and delivered a $9,200 project for a client, who must pay within 30 days. March 12 The company paid S4,700 cash to settle the account payable created on March 3. March 19 The company paid $7,500 cash for advertising. March 22 The company received $4,300 cash as a partial payment for the work completed on March 9. March 25 The company completed and delivered work for another client for S3,950 on account. March 29 Brooks withdrew $4,900 cash from the company for personal use. March 30 The company purchased $1,700 of additional office supplies on account. March 31 The company paid S500 cash for this month's utility bill. Record the transactions in Ledger. prepare the Closings. prepare Post-closing Trail Balance, prepare Balance Sheet.
Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions. March 1 Brooks invested S180,000 cash along with $30,000 of office equipment in the company. March 2 The company paid $1,350 cash for the current month's rent for an office. The company made purchases of office equipment for $3,300 and office supplies for $1,400 on March 3 account. March 6 The company completed and delivered services for a client and immediately received $6,000 cash. March 9 The company completed and delivered a $9,200 project for a client, who must pay within 30 days. March 12 The company paid S4,700 cash to settle the account payable created on March 3. March 19 The company paid $7,500 cash for advertising. March 22 The company received $4,300 cash as a partial payment for the work completed on March 9. March 25 The company completed and delivered work for another client for S3,950 on account. March 29 Brooks withdrew $4,900 cash from the company for personal use. March 30 The company purchased $1,700 of additional office supplies on account. March 31 The company paid S500 cash for this month's utility bill. Record the transactions in Ledger. prepare the Closings. prepare Post-closing Trail Balance, prepare Balance Sheet.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions.
March 1
Brooks invested $180,000 cash along with $30,000 of office equipment in the company.
March 2
The company paid $1,350 cash for the current month's rent for an office.
March 3
The company made purchases of office equipment for $3,300 and office supplies for $1,400 on
асcount.
March 6
The company completed and delivered services for a client and immediately received $6,000 cash.
March 9
The company completed and delivered a $9,200 project for a client, who must pay within 30 days.
March 12
The company paid $4,700 cash to settle the account payable created on March 3.
March 19
The company paid $7,500 cash for advertising.
March 22
The company received $4,300 cash as a partial payment for the work completed on March 9.
March 25
The company completed and delivered work for another client for $3,950 on account.
March 29
Brooks withdrew $4,900 cash from the company for personal use.
March 30
The company purchased $1,700 of additional office supplies on account.
March 31
The company paid $500 cash for this month's utility bill.
Record the transactions in Ledger, prepare the Closings, prepare Post-closing Trail Balance, prepare Balance
Sheet.
POST-CLOSING TRIAL BALANCE as of .........
TOTALS
BALANCES
ACCOUNTS
Dr.
Cr.
Dr.
Cr.
TOTALS
Transcribed Image Text:LEDGER
TTTT
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