Answered step by step
Verified Expert Solution
Question
1 Approved Answer
in Bin Company provides security services. Selected transactions for the company are presented below. Oct. 1 Received $66,000 cash in the business in exchange for
in Bin Company provides security services. Selected transactions for the company are presented below. Oct. 1 Received $66,000 cash in the business in exchange for ordinary shares. 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 $18,000, paying $4,000 cash and the balance on account. 8 Paid $500 for advertising. 10 Received bill for equipment repair cost of $390. 12 Provided security services for event for $3,200 on account. 16 Purchased supplies for $410 on account. 21 Paid balance due from October 7 purchase of equipment. 24 Received and paid utility bill for $148. 27 Received payment from customer for October 12 services performed. 31 Paid employee salaries and wages of $5,100 Required: . Post the transactions to T-accounts. Prepare a unadjusted trial balance at October 31, 2020. (Hint: Compute ending balances of T-accounts first.) (0.5 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started