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Karla tanner opens a web consulting business income statement

29/04/2021 Client: muhammad11 Deadline: 2 Day

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 in exchange for its common stock
.

2 The company prepaid $8,000 cash for six months’ rent for an office. (Hint: Debit Prepaid Rent for $8,000.)

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.

19The 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 The company paid $4,900 cash for dividends.

30 The company purchased $1,700 of additional office supplies on credit.

31 The company paid $500 cash for this month’s utility bill.

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