Question

Sheffield Security Company provides security services. Selected transactions for Sheffield are presented below. Oct. 1 Invested...

Sheffield Security Company provides security services. Selected transactions for Sheffield are presented below.
Oct. 1 Invested $63,000 cash in the business.
2 Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15.
4 Paid one month of rent for building for $2,000.
7 Purchased equipment for $17,000, paying $3,900 cash and the balance on account.
8 Paid $600 for advertising.
10 Received bill for equipment repair cost of $380.
12 Provided security services for event for $3,400 on account.
16 Purchased supplies for $470 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 $5,400.

Collapse question part

(a)

Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

Oct. 1Oct. 2Oct. 4Oct. 7Oct. 8Oct. 10Oct. 12Oct. 16Oct. 21Oct. 24Oct. 27Oct. 31

vvv

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Journal

Date Account title Debit Credit
October 1 Cash 63,000
Common stock 63,000
October 2 No entry
October 4 Rent expense 2,000
Cash 2,000
October 7 Equipment 17,000
Cash 3,900
Accounts payable 13,100
October 8 Advertising expense 600
Cash 600
October 10 Repair expense 380
Accounts payable 380
October 12 Accounts receivables 3,400
Service revenue 3,400
October 16 Supplies 470
Accounts payable 470
October 21 Accounts payable 13,100
Cash 13,100
October 24 Utilities expense 128
Cash 128
October 27 Cash 3,400
Accounts receivable 3,400
October 31 salaries and wages expense 5,400
Cash 5,400

Please ask if you have any query related to the question. Thank you

Add a comment
Know the answer?
Add Answer to:
Sheffield Security Company provides security services. Selected transactions for Sheffield are presented below. Oct. 1 Invested...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Sheffield Security Company provides security services. Selected transactions for Sheffield are presented below. Oct. 1 Invested...

    Sheffield Security Company provides security services. Selected transactions for Sheffield are presented below. Oct. 1 Invested $63,000 cash in the business. 2 Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15. 4 Paid one month of rent for building for $2,000. 7 Purchased equipment for $17,000, paying $3,900 cash and the balance on account. 8 Paid $600 for advertising. 10 Received bill for equipment repair cost of $380. 12 Provided security...

  • Concord Security Company provides security services. Selected transactions for Concord are presented below. Oct. 1 Invested...

    Concord Security Company provides security services. Selected transactions for Concord are presented below. Oct. 1 Invested $66,000 cash in the business. 2 Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15, 4 Paid one month of rent for building for $2,000. 7 Purchased equipment for $15,000, paying $3,700 cash and the balance on account 8 Paid $400 for advertising. 10 Received bill for equipment repair cost of $320. 12 Provided security...

  • Pina Colada Corp. provides security services. Selected transactions for Pina Colada Corp. are presented below. Oct....

    Pina Colada Corp. provides security services. Selected transactions for Pina Colada Corp. are presented below. Oct. 1 Issued common stock in exchange for $63,400 cash from investors. 2 Hired part-time security consultant. Salary will be $1,900 per month. First day of work will be October 15. 4 Paid 1 month of rent for building for $1,900 7 Purchased equipment for $17,300, paying $3,800 cash and the balance on account 8 Pald $500 for advertising. 10 Received bill for equipment repair...

  • Question 1 of 12 > -/5 Novak Corp provides security Services Selected transactions for Novak Corp...

    Question 1 of 12 > -/5 Novak Corp provides security Services Selected transactions for Novak Corp are presented below. Oct. 1 2 4 7 10 12 Issued common stock in exchange for $62.000 cash from investors. Hired part-time security consultant. Salary will be $1.900 per month. First day of work will be October 15 Paid 1 month of rent for building for $1.900. Purchased equipment for $16.900, pay $3.800 cash and the balance on cout Paid $1.400 for advertising Received...

  • Whispering Winds Corp. provides security services. Selected transactions for Whispering Winds Corp

    Whispering Winds Corp. provides security services. Selected transactions for Whispering Winds Corp. are presented below. Oct. 1 Issued common stock in exchange for $71,300 cash from investors. 2 Hired part-time security consultant. Salary will be $2,200 per month. First day of work will be October 15. 4 Paid 1 month of rent for building for $2,200. 7 Purchased equipment for $19,400, paying $4,300 cash and the balance on account. Paid $2,000 for advertising. 10 Received bill for equipment repair cost of $450. 12 Provided security services...

  • Exercise 3-18 (Part Level Submission) Whispering Winds Corp. provides security services. Selected transactions for Whispering Winds...

    Exercise 3-18 (Part Level Submission) Whispering Winds Corp. provides security services. Selected transactions for Whispering Winds Corp. are presented below. Oct. 1 Issued common stock in exchange for $71,300 cash from investors. 2 Hired part-time security consultant. Salary will be $2,200 per month. First day of work will be October 15. 4 Paid 1 month of rent for building for $2,200. 7 Purchased equipment for $19,400, paying $4,300 cash and the balance on account. 8 Paid $500 for advertising. 10...

  • Oct. 1 2 4 7 8 Riverbed Corp provides security services. Selected transactions for Riverbed Corp...

    Oct. 1 2 4 7 8 Riverbed Corp provides security services. Selected transactions for Riverbed Corp are presented below. Issued common stock in exchange for $67,300 cash from investors. Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15. Paid 1 month of rent for building for $2,000. Purchased equipment for $18,400, paying $4,100 cash and the balance on account. Paid $1,700 for advertising. Received bill for equipment repair cost of $420....

  • View Policies Current Attempt in Progress The May transactions of Blue Spruce Corp. were as follows....

    View Policies Current Attempt in Progress The May transactions of Blue Spruce Corp. were as follows. May 4 7 8 9 Paid $750 due for supplies previously purchased on account. Performed advisory services on account for $7,150. Purchased supplies for $870 on account. Purchased equipment for $2.940 in cash. Paid employees $650 in cash. Received bill for equipment repairs of $830. Paid $1.270 for 12 months of insurance policy. Coverage begins June 1. 17 22 29 Journalize the transactions. (If...

  • Use the data below. What is net income for October? What is the month ending value...

    Use the data below. What is net income for October? What is the month ending value for assets?What is the month ending value for stockholders' equity? Flint Corporation provides security services. Selected transactions for Flint Corporation are presented below. Oct. 1 Issued common stock in exchange for $75,200 cash from investors. 4 Paid 1 month of rent for building for $2,300. 7 Purchased equipment for $20,500, paying $4,600 cash and the balance on account. 8 Paid $600 for advertising. 10...

  • Sheffield Services was formed on May 1, 2020. The following transactions took place during the first...

    Sheffield Services was formed on May 1, 2020. The following transactions took place during the first month. Three parts to the question? 1). Prepare journal entries to record each of the events listed. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 2). Post the journal entries to T-accounts. (Post entries in the order of journal entries...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT