Question

Monty Corp. provides security services. Selected transactions for Monty Corp. are presented below.

Oct. 1		Issued common stock in exchange for $60,700 cash from investors.
2		Hired part-time security consultant. Salary will be $1,800 per month. First day of work will be October 15.
4		Paid 1 month of rent for building for $1,800.
7		Purchased equipment for $16,600, paying $3,700 cash and the balance on account.
8		Paid $1,300 for advertising.
10		Received bill for equipment repair cost of $380.
12		Provided security services for event for $2,900 on account.
16		Purchased supplies for $380 on account.
21		Paid balance due from October 7 purchase of equipment.
24		Received and paid utility bill for $136.
27		Received payment from customer for October 12 services performed.
31		Paid employee salaries and wages of $4,700.

Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the previous part. For accounts with zero balance select "Balance" from the list and enter "0" or leave it blank.) Post the transactions to T-accounts.

Answer 1

Answer :

Cash A/c

Particulars	Amount	Particalars	Amount
Common stock	60700	Building Rent	1800
Account Receivable	2900	Equipment	3700
-	-	Advertising	1300
-	-	Salaries and wages	900
-	-	Account payable	12900
-	-	Utility	136
-	-	Salaries and wages	4700

• Assumed that half month salary paid on 15th October $900

Common Stock

Particulars	Amount	Particalars	Amount
-	-	Cash	60700

Buiding Rent

Particulars	Amount	Particalars	Amount
Cash	1800	-	-

Equipment

Particulars	Amount	Particalars	Amount
Cash	3700	-	-
Account pyable	12900	-	-

Accounts payable

Particulars	Amount	Particalars	Amount
Cash	12900	Equipment	12900
-	-	Maintence Expence	380
-	-	Supplies	380

Advertising

Particulars	Amount	Particalars	Amount
Cash	1300	-	-

Maintenance A/c

Particulars	Amount	Particalars	Amount
Account payable	380	-	-

Service Income

Particulars	Amount	Particalars	Amount
-	-	Accounts Receivalbe	2900

Accounts Receivable

Particulars	Amount	Particalars	Amount
Sercive income	2900	Cash	2900

Salaries and wages

Particulars	Amount	Particalars	Amount
Cash	900	-	-
Cash	4700	-	-

• Assume that half month salary paid on 15th Ocober $900

Supplies

Particulars	Amount	Particalars	Amount
Accounts payable	380	-	-

Utility

Particulars	Amount	Particalars	Amount
Cash	136	-	-