ACT300_PortfolioProject - Portfolio Project Option 1...

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Portfolio Project Option 1 Student Template PART 1: Venture Consultants The month of March transactions Date Account Names Debit Credit 1-Mar Cash 150000 Office Equipment 22000 Brooks Equity 172000 Brooks investment in Venture Consultants 2-Mar Prepaid Rent 6000 Cash 6000 Payment of six months' rent in advance 3-Mar Office Equipment 3000 Office Supplies 1200 Accounts Payable 4200 Payment due in 10 days. 6-Mar Cash 4000 Revenue 4000 Service rendered for cash. 9-Mar Accounts Receivable 7500 Revenue 7500 AR terms: 30 days. 12-Mar Accounts Payable 4200 Cash 4200 Payment of AP incurred March 3rd. 19-Mar Prepaid Insurance 5000 Cash 5000 Purchase of 12 month insurance policy. 22-Mar Cash 3500 Accounts Receivable 3500 Receipt of cash for services performed March 9. 25-Mar Accounts Receivable 3820 Revenue 3820 Service rendered on credit. 29-Mar Brooks, Withdrawal 5100 Cash 5100 Withdrawal of cash for personal use. 30-Mar Office Supplies 600 Accounts Payable 600 31-Mar Utility Expense 500 Cash 500 Payment of Utility Bill Option #1: Venture Consultants, Power and Demolition Company, and Warnerwood Accounting Cases
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