Prepare a trial balance as of the end of Sentember. Business transactions completed by Hannah...
60.1K
Verified Solution
Question
Accounting
Prepare a trial balance as of the end of Sentember. Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $86,000 cash along with office equipment valued at $21,000 in a new business named HV Consulting in exchange for common stock. b. The company purchased land valued at $45,000 and a building valued at $150,000. The purchase is paid with $30,000 cash and a note payable for $165,000. c. The company purchased $2.400 of office supplies on credit. d. Venedict invested an automobile in the company in exchange for more common stock. The automobile has a value of $16,700. e. The company purchased $5,100 of additional office equipment on credit. f. The company paid $1,500 cash salary to an assistant. g. The company provided services to a client and coliected $7,000cash. h. The company paid $635 cash for this month's utilities. i. The company paid $2,400 cash to settle the account payable created in transaction c. j. The company purchased $20,100 of new office equipment by paying $20,100 cash. k. The company completed $6,500 of services on credit for a client, who must pay within 30 days. 1. The company paid $1,500 cash salary to an assistant. m. The company recelved $3,500 cash in partial payment on the receivable created in transaction k. n. The company paid a $2,500 cash dividend. Required: 1. Prepare general journal entries to record these transactoons using the following titles: Cash (101); Accounts Receivable (106): Office Supplies (108): Office Equipment (163); Automobiles (164), Euilding (170), Land (172): Accounts Payable (201): Notes Payable (250): Common Stock (307): Dividencs (319): Consulting Revenue (403): Satarles Expense (601); and Utilies Expense (602). 2. Post the joumal entries from part:1 to the ledger accounts. 3. Prepare a trial balance as of the end of September


Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.