Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

-/2 Question 4 of 6 View Policies Current Attempt in Progress Pronghorn Corporation provides security services. Selected transactions for Pronghorn are presented below. Oct. 1

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

-/2 Question 4 of 6 View Policies Current Attempt in Progress Pronghorn Corporation provides security services. Selected transactions for Pronghorn are presented below. Oct. 1 Issued common stock in exchange for $66,400 cash from investors. 2 Hired part-time security consultant. Salary will be $1,940 per month. First day of work will be October 15. Paid one month of rent for building for $1.940. Purchased equipment for $20,000, paying $4,150 cash and the balance on account. Paid $560 for advertising Received bill for equipment repair cost of $430. Provided security services for event for $3,450 on account. Purchased supplies for $465 on account. Paid balance due from October 7 purchase of equipment. Received and paid utility bill for $145. Received payment from customer for October 12 services performed. Paid employee salaries and wages of $5,520. 4 7 8 10 12 16 21 24 27 31 Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Question 4 of 6 -/2 !!! Accounts Payable Common Stock Service Revenue Advertising Expense > Salaries and Wages Expense Question 4 of 6 ./2 !!! Maintenance & Repairs Expense Rent Expense > Utilities Expense eTextbook and Media List of Accounts Prepare a trial balance at October 31, 2020. PRONGHORN CORPORATION Trial balance uestion 4 of 6 -/2 Prepare a trial balance at October 31, 2020 PRONGHORN CORPORATION Trial balance Debit Credit Totals $ e Textbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

10th Edition

978-0324300987

Students also viewed these Accounting questions