Reference no: EM132391462

FAC101 Principles of Financial Accounting Problem, Khawarizmi International College, UAE

Just need to fill the empty blanks by numbers as notes mention.

Problem - HV Consulting was started on April 1, 2019 by Hannah Venedict. Following are the selected events and transactions occurred during April 2019.

1. Venedict invested $............. cash along with office equipment valued at $......... in a new sole proprietorship named HV Consulting.

2. The company purchased land valued at $............ and a building valued at $............. the purchase is paid with $............ cash and a long-term note payable for $.............

3. The company purchased $............of office supplies on account.

4. Venedict invested her personal automobile in the company. The automobile has a value of $............ and is to be used exclusively in the business.

5. The company purchased $............ of additional office equipment on account.

6. The company provided services to a client and collected $............ cash.

7. The company paid $............ cash for this month's utility bills.

8. The company paid $............ cash to settle the account payable created in transaction 3.

9. The company completed $........... of services for a client, who must pay within 30 days.

10. The company paid $............ cash, salary to office staff.

11. The company received $............cash in partial payment on the receivable created in transaction 10.

12. Venedict withdrew $............ cash from the company for personal use.

Hannah Venedict uses the following accounts:

Cash, Accounts Receivable, Office Supplies, Office Equipment , Automobiles , Building ,Land, Accounts Payable, Notes Payable, H. Venedict's Capital; H. Venedict's Drawings; Fees Earned, Salaries Expense, and Utilities Expense.

Note:

A- Assume numbers between $ 650 to $ 180,000.

B- Use Accounting templates.