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E2.17 (LO 2, 3, 4) Beyers Security provides security services. Selected transactions for Beyers are pre- sented below, Oct. 1 Received $66,000 cash in the business in exchange for ordinary shares. 2 4 7 8 10 12 16 21 Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15. Paid one mouth of rent for building for $2.000. Purchased equipment for $18,000, paying $4,000 cash and the balance on account. Paid $500 for advertising. Received bill for equipment repair cost of $390. Provided security services for event for $3.200 on account. Purchased supplies for $410 on account. Paid balance due from October 7 purchase of equipment. Received and paid utility bill for $148. 24 27 Received payment from customer for October 12 services performed. 31 Paid employee salaries and wages of $5.100. Instructions a. Journalize the transactions. Do not provide explanations. b. Post the transactions to T-accounts. c. Prepare a trial balance at October 31, 2020. (Hint: Compute ending balances of T-accounts firs

E2.17 (LO 2, 3, 4) Beyers Security provides security services. Selected transactions for Beyers are pre- sented below, Oct. 1 Received $66,000 cash in the business in exchange for ordinary shares. 2 4 7 8 10 12 16 21 Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15. Paid one mouth of rent for building for $2.000. Purchased equipment for $18,000, paying $4,000 cash and the balance on account. Paid $500 for advertising. Received bill for equipment repair cost of $390. Provided security services for event for $3.200 on account. Purchased supplies for $410 on account. Paid balance due from October 7 purchase of equipment. Received and paid utility bill for $148. 24 27 Received payment from customer for October 12 services performed. 31 Paid employee salaries and wages of $5.100. Instructions a. Journalize the transactions. Do not provide explanations. b. Post the transactions to T-accounts. c. Prepare a trial balance at October 31, 2020. (Hint: Compute ending balances of T-accounts firs

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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E2.17 (LO 2, 3, 4) Beyers Security provides security services. Selected transactions for Beyers are pre- sented below. Oct. 1 Received $66,000 cash in the business in exchange for ordinary shares. 2 4 7 8 10 12 16 21 24 27 31 Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15. Paid one mouth of rent for building for $2.000. Purchased equipment for $18,000, paying $4,000 cash and the balance on account. Paid $500 for advertising. Received bill for equipment repair cost of $390. Provided security services for event for $3.200 on account. Purchased supplies for $410 on account. Paid balance due from October 7 purchase of equipment. Received and paid utility bill for $148. Received payment from customer for October 12 services performed. Paid employee salaries and wages of $5.100. Instructions a. Journalize the transactions. Do not provide explanations. b. Post the transactions to T-accounts. c. Prepare a trial balance at October 31, 2020. (Hint: Compute ending balances of T-accounts first
Transcribed Image Text:E2.17 (LO 2, 3, 4) Beyers Security provides security services. Selected transactions for Beyers are pre- sented below. Oct. 1 Received $66,000 cash in the business in exchange for ordinary shares. 2 4 7 8 10 12 16 21 24 27 31 Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15. Paid one mouth of rent for building for $2.000. Purchased equipment for $18,000, paying $4,000 cash and the balance on account. Paid $500 for advertising. Received bill for equipment repair cost of $390. Provided security services for event for $3.200 on account. Purchased supplies for $410 on account. Paid balance due from October 7 purchase of equipment. Received and paid utility bill for $148. Received payment from customer for October 12 services performed. Paid employee salaries and wages of $5.100. Instructions a. Journalize the transactions. Do not provide explanations. b. Post the transactions to T-accounts. c. Prepare a trial balance at October 31, 2020. (Hint: Compute ending balances of T-accounts first
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