Darby consulting was established on 1 March and during MarchDarby entered into the following transactions:

1 Issued $10000 shares in exchange for cash

3 Purchased $300 of supplies on account

7 Prepaid $1500 rent for April, May and June

8 Paid $175 towards 3 March purchase of supplies

11 Billed customers $5780 for services rendered

12 Paid $700 for March advertising

25 Received $4500 from customers billed on March 11

28 Paid $200 in dividends to shareholders

29 Paid $1200 in March salaries

29 Paid $760 for water usage

a) prepare a journal entry for the transactions

b) Post the journal to the appropriate ledger (t-accounts)

c) Prepare a trial balance at 31 March

d) Prepare an income statement and statement of retainedearnings for the month of March.

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Jarrod RobelLv2

28 Sep 2019

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Related questions

Darby consulting was established on 1 March and during MarchDarby entered into the following transactions:

1 Issued $10000 shares in exchange for cash

3 Purchased $300 of supplies on account

7 Prepaid $1500 rent for April, May and June

8 Paid $175 towards 3 March purchase of supplies

11 Billed customers $5780 for services rendered

12 Paid $700 for March advertising

25 Received $4500 from customers billed on March 11

28 Paid $200 in dividends to shareholders

29 Paid $1200 in March salaries

29 Paid $760 for water usage

Prepare a balance sheet for the end of March.

coffeehare786

Please help me with this question.

Denzel Brooks opens a Web consulting business called VentureConsultants and completes the following transactions in March.

March 1-Brooks invested $150,000 cash along with $22,000 inoffice equipment in the company.

March 2-The company prepaid $6,000 cash for six months rent forand office. (Hint: Debit Prepaid Rent for $6,000.)

March 3-The company made credit purchases of office equipmentfor $3,000 and office supplies for $1,200. Payment due within 10days.

March 6-The company completed services for a client andimmediately received $4,000 cash.

March 9-The company completed a $7,500 project for a client whomust pay within 30 days.

March 12^-The company paid $4,200 cash to settle theaccounts payable created on March 3.

March 19-The company paid $5,000 cash for the premium on a 12month insurance policy. (Hint: Debit Prepaid Insurance for$5,000.)

March 22-The company received $3,500 cash as partial payment forthe work completed on March 9.

March 25-The company completed work for another client for$3,280 on credit.

March 29-Brooks withdrew $5,100 cash from the company forpersonal use.

March 30-The company purchased $600 of additional officesupplies on credit.

March 31-The company paid $500 cash for this months utilitybill.

Questions

1. Prepare general journal entries torecord these transactions (use the account titles listed below inquestion 2).

2.Open the following ledgeraccount-their account numbers are in parenthesis (use the balancecolumn format): Cash (101); Accounts Receivable (106); OfficeSupplies (124); Prepaid Insurance (128); Prepaid Rent(131); OfficeEquipment(163); Accounts Payable(201); D. Brooks, Capital (301); D.Brooks Withdrawals (302); Services Revenue (403); and utilitiesExpense (690). Post the journal entries from question 1 above tothe ledger accounts and enter the balance after eachposting.

3.Prepare a trial balance as of the endof March.

roseserval889

Hello, I need help with Problem 2-2A, p. 83, from Fundamentalsof Accounting Principles (Wild, Shaw, and Chiappetta), ISBN0078025583. It's been a long time since I did accounting. It wouldhelp me to see the entire answer so that I may use this as atemplate to move forward in the text.