April Mohr opens a wed consulting business called Mohr consulting and completes the following transactions in March.
Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the
financia statements
har
Mar
1 Mohr invested S234,000 cash along wath $24,800 an offace equapment in the company. 2 The company prepaid $6,000 cash for sax months' rent for an oftace. The company's policy 1s to record prepaid
expenses in balance sheet accounts
Mar. 3 The company made credat purchases of offace equapment for S3,800 and offace supplies for $4,000. Payment 15
due within 16 days.
var.
The company completed services for a client and irmediately received 36.866 cash.
Mar.
y The company completed a $10,300 project for a client, who must pay within 30 days.
var.
2 he company 0210 39.866 cash to settle the account payable created on arch 3
Mar.
iS The company paid S9.500 cash for the premium on a 12-month ansurance polacy. The company's polacy as to
record prepaid expenses in balance sheet accounts.
Mar. 22 The company received S6.208 cash as partial payment for the work completed on March 9
Mar.
25 The company completed work for another client for $6,700 on credit.
Mar.
29 Mohr withdrew S3,500 cash from the company for personal use.
var.
30 The company purchased $1,000 o additional office supplies on credit.
Mar
31 The company paid $988 cash for this month's utility bill