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Pharoah Corporation provides security services. Selected transactions for Pharoah are presented below. Oct. 1 Issued common stock in exchange for $55,400 cash from investors. 2
Pharoah Corporation provides security services. Selected transactions for Pharoah are presented below. Oct. 1 Issued common stock in exchange for $55,400 cash from investors. 2 Hired part-time security consultant. Salary will be \$1,700 per month. First day of work will be October 15. 4 Paid 1 month of rent for building for $1,700. 7 Purchased equipment for $15,100, paying $3,400 cash and the balance on account. 8 Paid $900 for advertising. 10 Received bill for equipment repair cost of $340. 12 Provided security services for event for $2,700 on account. 16 Purchased supplies for $340 on account. 21 Paid balance due from October 7 purchase of equipment. 24 Received and paid utility bill for $124. 27 Received payment from customer for October 12 services performed. 31 Paid employee salaries and wages of $4,300. Your answer is partially correct. 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.) Advertising Expense Salaries and Wages Expense Maintenance \& Repairs Expense
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