Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $175,000 cash along with $27,000 in office equipment in the company in exchange for common stock.
2 The company prepaid $9,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $9,000.
3 The company made credit purchases of office equipment for $5,100 and office supplies for $1,700. Payment is due within 10 days.
6 The company completed services for a client and immediately received $4,000 cash.
9 The company completed a $10,400 project for a client, who must pay within 30 days.
12 The company paid $6,800 cash to settle the account payable created on March 3.
19 The company paid $7,800 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $7,800.
22 The company received $3,500 cash as partial payment for the work completed on March 9.
25 The company completed work for another client for $4,980 on credit.
29 The company paid a $6,400 cash dividend.
30 The company purchased $1,000 of additional office supplies on credit.
31 The company paid $900 cash for this month's utility bill.
Required:
1. Prepare general journal entries to record these transactions using the following titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Prepaid Rent; Office Services Revenue; and Utilities Expense.
2. Prepare a trial balance as of the end of March.

Venture Consultants

General Journal

March 1

Cash $175,000 (debit)

Office equipment $27,000 (debit)

Common Stock $202,000 (credit)

March 2

Prepaid Rent  $9,000 (debit)

Cash $9,000 (credit)

March 3

Office equipment $5,100 (debit)

Office supplies $1,700 (debit)

Accounts Payable $6,800 (credit)

March 6

Cash $4,000 (debit)

Service Revenue $4,000 (credit)

March 9

Accounts Receivable $10,400 (credit)

Service Revenue $10,400 (credit)

March 12

Accounts Payable $6,800 (debit)

Cash $6,800 (credit)

March 19

Prepaid Insurance $7,800 (debit)

Cash $7,800 (credit)

March 22

Cash $3,500 (debit)

Accounts Receivable $3,500 (credit)

March 25

Accounts Receivable $4,980 (debit)

Service Revenue $4,980 (credit)

March 29

Dividends $6,400 (debit)

Cash $6,400 (credit)

March 30

Office supplies $1,000 (credit)

Accounts Payable $1,000 (credit)

March 31

Utilities  $900 (debit)

Cash  $900  (credit)

Venture Consultants

Trial balance as March 31.

                                                 Debit                      Credit

Cash                                      $151,600

Office equipment                   $31,100

Common Stock                                                    $202,000

Prepaid Rent                           $9,000

Office supplies                        $2,700

Accounts Payable                                                     $1,000

Service Revenue                                                     $19,380

Accounts Receivable            $11,880

Prepaid Insurance                 $7,800

Dividends                               $6,400

Utilities                                      $900

Total                                   $222,380                 $222,380

Explanation:

Determine Account Balances at the end of the month as follows :

Cash : $175,000 - $9,000 + $4,000 - $6,800 -  $7,800 + $3,500 - $6,400 - $900 = $151,600

Office equipment : $27,000 + $5,100 = $31,100

Common Stock : $202,000

Prepaid Rent:  $9,000

Office supplies : $1,700 + $1,000 = $2,700

Accounts Payable : $6,800 - $6,800 + $1,000 = $1,000

Service Revenue : $4,000 + $10,400 + $4,980 =  $19,380

Accounts Receivable: $10,400 - $3,500 + $4,980 = $11,880

Prepaid Insurance: $7,800

Dividends: $6,400

Utilities:  $900

the answer is     d. in our global economy, most job growth will be in services, but manufacturing jobs will exist, too.

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total