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Recording transactions; posting to ledger; preparing a trial balance 1 1 Business transactions completed by Hannah Venedict during the month of September are as
Recording transactions; posting to ledger; preparing a trial balance 1 1 Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $60,000 cash along with office equipment valued at $25,000 in a new business named HV Consulting. b. The company purchased land valued at $40,000 and a building valued at $160,000. The purchase is paid with $30,000 cash and a note payable for $170,000. c. The company purchased $2,000 of office supplies on credit. d. Venedict invested an automobile in the company. The automobile has a value of $16,500. e. The company purchased $5,600 of additional office equipment on credit. f. The company paid $1,800 cash salary to an assistant. g. The company provided services to a client and collected $8,000 cash. h. The company paid $635 cash for this month's utilities. i. The company paid $2,000 cash to settle the account payable created in transaction c. j. The company purchased $20,300 of new office equipment by paying $20,300 cash. k. The company completed $6,250 of services on credit for a client, who must pay within 30 days. 1. The company paid $1,800 cash salary to an assistant. m. The company received $4,000 cash in partial payment on the receivable created in transaction k. n. Venedict withdrew $2,800 cash from the company for personal use. Required 1. Prepare general journal entries to record these transactions (use account titles listed in part 2).
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