Question 1:

Exercise 2-17 a-c (Part Level Submission) Concord Corporation provides security services. Selected transactions for Concord are presented below. Oct. Issued common stock in exchange for $65,400 cash from investors. 1 2 Hired part-time security consultant. Salary will be $1,840 per month. First day of work will be October 15. 4. Paid one month of rent for building for $1,840. 7 Purchased equipment for $19,100, paying $4,550 cash and the balance on account. 8 Paid $880 for advertising. 10 Received bill for equipment repair cost of $430. 12 Provided security services for event for $3,400 on account. 16 Purchased supplies for $465 on account. 21 Paid balance due from October 7 purchase of equipment. 24 Received and paid utility bill for $140. 27 Received payment from customer for October 12 services performed. 31 Paid employee salaries and wages of $5,450. Post the transactions to T-accounts. (Post entries in the order displayed in the problem statement.) Cash 4 Accounts Receivable Supplies Equipment Accounts Payable 4 Common Stock Service Revenue Advertising Expense Salaries and Wages Expense Maintenance & Repairs Expense Rent Expense 4 Utilities Expense