Reference no: EM133049382

Question - Flounder Corp. provides security services. Selected transactions for Flounder Corp. are presented below.

Oct. 1 Issued common stock in exchange for $55,400 cash from investors.

Oct. 2 Hired part-time security consultant. Salary will be $1,700 per month. First day of work will be October 15.

Oct. 4 Paid 1 month of rent for building for $1,700.

Oct. 7 Purchased equipment for $15,100, paying $3,400 cash and the balance on account.

Oct. 8 Paid $900 for advertising.

Oct. 10 Received bill for equipment repair cost of $340.

Oct. 12 Provided security services for event for $2,700 on account.

Oct. 16 Purchased supplies for $340 on account.

Oct. 21 Paid balance due from October 7 purchase of equipment.

Oct. 24 Received and paid utility bill for $124.

Oct. 27 Received payment from customer for October 12 services performed.

Oct. 31 Paid employee salaries and wages of $4,300.

Required - Post the transactions to T-accounts.