Question: Pronghorn Corp provides security services. Selected transactions for Pronghorn Corp are presented below. Oct. 1 Issued common stock in exchange for $64,700 cash from investors.
Pronghorn Corp provides security services. Selected transactions for Pronghorn Corp are presented below. Oct. 1 Issued common stock in exchange for $64,700 cash from investors. 2 Hired part-time security consultant. Salary will be $2,000 per month. First day of work will be October 15. 4 Paid 1 month of rent for building for $2,000. 7 Purchased equipment for $17,600, paying $3,900 cash and the balance on account. 8 Paid $500 for advertising. 10 Received bill for equipment repair cost of $380. 12 Provided security services for event for $3,100 on account. 16 Purchased supplies for $400 on account. 21 Paid balance due from October 7 purchase of equipment 24 Received and paid utility bill for $145 27 Received payment from customer for October 12 services performed. 31 Paid employee salaries and wages of $5,000 2
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
