Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crane Security Company provides security services. Selected transactions for Crane are as follows. Oct. 1 Invested $60,000 cash in the business. 2. Hired part-time security

image text in transcribed
image text in transcribed
image text in transcribed
Crane Security Company provides security services. Selected transactions for Crane are as follows. Oct. 1 Invested $60,000 cash in the business. 2. Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15. 4 Paid one month of rent for building for $2,000. 7. Purchased equipment for $15,000, paying $3,000 cash and the balance on account. 8 Paid $400 for advertising. 10 Received bill for equiprnent repair cost of $300. 12. Provided security services for event for $3,000 on account. 16 Purchased supplies for $400 on account. 21 Paid balance due from October 7 purchase of equipment. 24 Received and paid utility bill for $128. 27 Received payment from customer for October 12 services performed. 31 Paid employee salaries and wages of $4,500. Owner's Capital \begin{tabular}{|c|c|} \hline \hline 1 & 39,000 \\ \hline \end{tabular} \begin{tabular}{|} \hline MNMMS 39,00 \\ \hline \end{tabular} \begin{tabular}{|l|} \hline Oct.4 \\ \hline Prepaid Rent \\ \hline \end{tabular} \begin{tabular}{|l|} \hline 20,000 \\ \hline \end{tabular} Cash Accounts Payable Salaries and Wages Expense. eTextbook and Media Assistance Used List of Accounts

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Software Licence Compliance Survive The Audits

Authors: R. Concessao

1st Edition

1539161560, 978-1539161561

More Books

Students also viewed these Accounting questions