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Exercise 3-18 (Part Level Submission) Flint Corporation provides security services. Selected transactions for Flint Corporation are presented below. Oct. 1 Issued common stock in exchange
Exercise 3-18 (Part Level Submission) Flint Corporation provides security services. Selected transactions for Flint Corporation are presented below. Oct. 1 Issued common stock in exchange for $75,200 cash from investors. 2 Hired part-time security consultant. Salary will be $2,300 per month. First day of work will be October 15. Paid 1 month of rent for building for $2,300. Purchased equipment for $20,500, paying $4,600 cash and the balance on account. 4 7 Paid $600 for advertising. 8 Received bill for equipment repair cost of $440. 1 7 Provided security services for event for $3,600 on account. 16 Purchased supplies for $470 on account. 21 Paid balance due from October 7 purchase of equipment. 24 Received and paid utility bill for $169. Received payment from customer for October 12 services performed $5,800 27 ... Paid employee salaries and wages 31 (a) Your answer is correct. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Date Debit Credit 75,200 Oct. 1 Cash 75,200 Common Stock Oct. 2 No Entry 0 No Entry 2,300 Oct. 4 Rent Expense 2,300 Cash 20,500 Oct. 7 Equipment 4,600 Cash 15,900 Accounts Payable Oct. 8 Advertising Expense 600 600 Cash Maintenance and Repairs Expense 440 Oct. 10 Accounts Payable 40 Accounts Receivable 3600 Oct. 12 3600 Service Revenue 470 Oct. 16 Supplies 470 Accounts Payable 15,900 Accounts Payable Oct. 21 15,900 Cash Oct. 24 Utilities Expense 169 Cash 169 Oct. 27 3600 Cash 3600 Accounts Receiva ble Salaries and Wages Expense Oct. 31 5,800 5,800 Cash Click if you would like to Show Work for this question: Open Show Work Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the previous part. For accounts with zero balance select "Balance" from the list and enter "O" or leave it blank.) Cash Accounts Receivable Supplies Equipment Accounts Payable Accounts Payable Common Stock Service Revenue Advertising Expense Salaries and Wages Expense Maintenance & Repairs Expense Rent Expense Utilities Expense Open Show Work Click if you would like to Show Work for this
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