Prepare a trial balance at October

Reference no: EM132728534

Question - Sheffield Security Company provides security services. Selected transactions for Sheffield are presented below.

Oct. 1 Invested $60,000 cash in the business.

Oct. 2 Hired part-time security consultant. Salary will be $2,600 per month. First day of work will be October 15.

Oct. 4 Paid one month of rent for building for $2,600.

Oct. 7 Purchased equipment for $17,000, paying $3,000 cash and the balance on account.

Oct. 8 Paid $600 for advertising.

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

Oct. 12 Provided security services for event for $3,200 on account.

Oct. 16 Purchased supplies for $400 on account.

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

Oct. 24 Received and paid utility bill for $148.

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

Oct. 31 Paid employee salaries and wages of $5,500.

Required -

A. Post the transactions to T-accounts.

B. Prepare a trial balance at October 31, 2017.

Reference no: EM132728534

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