Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help me with the last part of the Cash, the last part of the Accounts payable, and part C thank you (c) Pharoah Corporation
please help me with the last part of the Cash, the last part of the Accounts payable, and part C
thank you
(c)
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. 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. List all debit entries before credit entries.) Advertising Expense \begin{tabular}{|} 900 \\ \hline \end{tabular} Maintenance and Repairs Expense 340 Accounts Payable 340 Accounts Receivable 2700 Service Revenue Accounts Payable 340 Oct. 21 Accounts Payable 11700 11700 Utilities Expense 124 Accounts Receivable Oct. 31 Salaries and Wages Expense \begin{tabular}{|} 4300 \\ \hline \end{tabular} Cash 4300 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 " 0 " on the normal balance side of the account or leave it blank.) Accounts Receivable Supplies Equipment \begin{tabular}{lll|l|l|} \hline Oct. 7 & & 15100 & & \\ \hline Bal. & & & \\ \hline \end{tabular} Equipment Accounts Payable Common Stock Service Revenue Advertising Expense Salaries and Wages Expense Maintenance \& Repairs Expense \begin{tabular}{lll|} \hline Oct. 10 & v & 340 \\ \hline Bal. v & 340 \\ \hline \end{tabular} Rent Expense \begin{tabular}{lll} \hline Oct. 4 & & 1700 \\ \hline Bal. & & 1700 \\ \hline \end{tabular} Utilities Expense \begin{tabular}{lll|} \hline Oct. 24 & & 124 \\ \hline Bal. & 124 \\ \hline \end{tabular} List of Accounts Accounts Payable Accounts Receivable Advertising Expense Bonds Payable Buildings Cash Common Stock Dividends Equipment Income Tax Expense Income Tax Payable Insurance Expense Interest Expense Land Maintenance and Repairs Expense Mortgage Payable No Entry Notes Payable Notes Receivable Prepaid Insurance Prepaid Rent Rent Expense Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Service Revenue Supplies Supplies Expense Unearned Service Revenue Utilities Expense Website PHAROAH CORPORATION Trial Balance Credit $ List of Accounts Accounts Payable Accounts Receivable Advertising Expense Bonds Payable Buildings Cash Common Stock Dividends Equipment Income Tax Expense Income Tax Payable Insurance Expense Interest Expense Land Maintenance and Repairs Expense Mortgage Payable No Entry Notes Payable Notes Receivable Prepaid Insurance Prepaid Rent Rent Expense Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Service Revenue Supplies Supplies Expense Unearned Service Revenue Utilities Expense WebsiteStep 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