Oct. 1Issued common stock in exchange for $80,500 cash from investors.247Hired part-time security consultant. Salary will be $2,400 per month. First day of work will be October 15.Paid 1 month of rent for building for $2,400.Purchased equipment for $22,000, paying $4,900 cash and the balance on account.8Paid $2,700 for advertising.10Received bill for equipment repair cost of $520.12Provided security services for event for $3,900 on account.16Purchased supplies for $500 on account.2421Paid balance due from October 7 purchase of equipment.24Received and paid utility bill for $181.27Received payment from customer for October 12 services performed.Post the transactions to T-accounts and determine month-end balances. (Post entries in the order of Journal entries presented in theprevious part. For accounts with zero balance select "Bal" from the list and enter "O" on the normal balance side of the account or leave itblank)Oct. 180500Cash

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Description: Oct. 1Issued common stock in exchange for $80,500 cash from investors.247Hired part-time security consultant. Salary will be $2,400 per month. First day of work will be October 15.Paid 1 month of rent for building for $2,400.Purchased equipment for

Ledger Accounts:After the transactions are journalised next step is to record the transactions into…

Business

Accounting

Oct. 1 Issued common stock in exchange for $80,500 cash from investors. 2 4 Hired part-time security consultant. Salary will be $2,400 per month. First day of work will be October 15. Paid 1 month of rent for building for $2,400. Purchased equipment for $22,000, paying $4,900 cash and the balance on account. 7 8 Paid $2,700 for advertising. 10 Received bill for equipment repair cost of $520. 12 12 Provided security services for event for $3,900 on account. 16 Purchased supplies for $500 on account. 21 Paid balance due from October 7 purchase of equipment. 22 24 Received and paid utility bill for $181. 27 Received payment from customer for October 12 services performed. Post the transactions to T-accounts and determine month-end balances. (Post entries in the order of Journal entries presented in the previous part. For accounts with zero balance select "Bal." from the list and enter "O" on the normal balance side of the account or leave it blank.)

Oct. 1 Issued common stock in exchange for $80,500 cash from investors. 2 4 Hired part-time security consultant. Salary will be $2,400 per month. First day of work will be October 15. Paid 1 month of rent for building for $2,400. Purchased equipment for $22,000, paying $4,900 cash and the balance on account. 7 8 Paid $2,700 for advertising. 10 Received bill for equipment repair cost of $520. 12 12 Provided security services for event for $3,900 on account. 16 Purchased supplies for $500 on account. 21 Paid balance due from October 7 purchase of equipment. 22 24 Received and paid utility bill for $181. 27 Received payment from customer for October 12 services performed. Post the transactions to T-accounts and determine month-end balances. (Post entries in the order of Journal entries presented in the previous part. For accounts with zero balance select "Bal." from the list and enter "O" on the normal balance side of the account or leave it blank.)

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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