This information relates to McCall Real Estate Agency, accounting homework help
This information relates to McCall Real Estate Agency.
|
Oct. 1 |
Stockholders invest $31,120 in exchange for common stock of the corporation. | |
| 2 | Hires an administrative assistant at an annual salary of $36,600. | |
| 3 | Buys office furniture for $3,760, on account. | |
| 6 | Sells a house and lot for E. C. Roads; commissions due from Roads, $12,780 (not paid by Roads at this time). | |
| 10 | Receives cash of $210 as commission for acting as rental agent renting an apartment. | |
| 27 | Pays $670 on account for the office furniture purchased on October 3. | |
| 30 | Pays the administrative assistant $3,050 in salary for October. |
Prepare the debit–credit analysis for each transaction.
(If there is no transaction, then enter No Effect for the account and 0 for the amount.)
| Oct. 1 | Debits
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| Debit
$
|
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| Credits
|
||
| Credit
$
|
||
| Oct. 2 | Debits
|
|
| Debit
$
|
||
| Credits
|
||
| Credit
$
|
||
| Oct. 3 | Debits
|
|
| Debit
$
|
||
| Credits
|
||
| Credit
$
|
||
| Oct. 6 | Debits
|
|
| Debit
$
|
||
| Credits
|
||
| Credit
$
|
||
| Oct. 10 | Debits
|
|
| Debit
$
|
||
| Credits
|
||
| Credit
$
|
||
| Oct. 27 | Debits
|
|
| Debit
$
|
||
| Credits
|
||
| Credit
$
|
||
| Oct. 30 | Debits
|
|
| Debit
$
|
||
| Credits
|
||
| Credit
$
|
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