Answer:
Oct. 1 Issued common stock in exchange for $80,500 cash from investors.
Dr Cash 80,500
Cr Common Stock 80,500
2 Hired part-time security consultant. Salary will be $2,400 per month. First day of work will be October 15.
No entry required
4 Paid 1 month of rent for building for $2,400.
Dr Prepaid rent 2,400
Cr Cash 2,400
7 Purchased equipment for $22,000, paying $4,900 cash and the balance on account.
Dr Equipment 22,000
Cr Cash 4,900
Cr Accounts payable 17,100
8 Paid $600 for advertising.
Dr Advertising expense 600
Cr Cash 600
10 Received bill for equipment repair cost of $480.
Dr Repairs expense 480
Cr Accounts payable 480
12 Provided security services for event for $3,900 on account.
Dr Accounts receivable 3,900
Cr Service revenue 3,900
16 Purchased supplies for $500 on account.
Dr Supplies inventory 500
Cr Accounts payable 500
21 Paid balance due from October 7 purchase of equipment.
Dr Accounts payable 17,100
Cr Cash 17,100
24 Received and paid utility bill for $181.
Dr Utilities expense 181
Cr Cash 181
27 Received payment from customer for October 12 services performed.
Dr Cash 3,900
Cr Accounts receivable 3,900
31 Paid employee salaries and wages of $6,200.
Dr Wages expense 6,200
Cr Cash 6,200
