Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

post transactions to a T account Swifty Security Company provides security services. Selected transactions for Swifty are as follows. Oct. 1 Invested $62,000 cash in

post transactions to a T account
image text in transcribed
image text in transcribed
image text in transcribed
Swifty Security Company provides security services. Selected transactions for Swifty are as follows. Oct. 1 Invested $62,000 cash in the business. 2 Hired part-time security consultant. Salary will be $2,200 per month. First day of work will be 0 4 Paid one month of rent for building for $2,200. 7 Purchased equipment for $16,000, paying $3,000 cash and the balance on account. 8 Paid $500 for advertising. 10 Received bill for equipment repair cost of $320. 12 Provided security services for event for $3,300 on account. 16 Purchased supplies for $440 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 $5,300. Jestion 7 of 26 Oct. 10% Maintenance and Repairs Expense 6.45/20 Accounts Payable Oct. 12 Accounts Receivable 320 Service Revenue Oct. 16% Supplies Accounts Payable Oct. 21 Accounts Payable 13000 Cash Oct. 24% Utilities Expense Cash Oct. 27 Cash Accounts Receivable Oct. 31% Salaries and Wages Expense Cash Question 7 of 26 6.45/20 Oct. 2 No Entry No Entry Oct.4 Rent Expense Debit 62000 Ot.4 No Entry Cash Oct. 7 Equipment 16000 cosh Accounts Payable Oct. 8 Advertising Expense 500 Oct. 10 Maintenance and Repairs Exptnse Accoumts Payable Oct 12 Aecounts Receivalde Service Revenue cot16= Supplies

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

Forensic And Investigative Accounting

Authors: D. Larry Crumbley, Lester E. Heitger, G. Stevenson Smith

6th Edition

0808034871, 9780808034872

More Books

Students also viewed these Accounting questions

Question

List six habits that can help you become a more positive thinker.

Answered: 1 week ago

Question

Does it have at least one-inch margins?

Answered: 1 week ago

Question

Does it have correct contact information?

Answered: 1 week ago

Question

Does it exceed two pages in length?

Answered: 1 week ago