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This information relates to McCall Real Estate Agency.

Oct. 1 Stockholders invest $30,000 in exchange for common stock of the corporation.
2 Hires an administrative assistant at an annual salary of $36,000.
3 Buys office furniture for $3,800, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,800 (not paid by Roads at this time).
10 Receives cash of $140 as commission for acting as rental agent renting an apartment.
27 Pays $700 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $3,000 in salary for October.

Required:
Prepare the debit—credit analysis for each transaction.

Respuesta :

Tundexi

Answer:

             Account                                      Debit$          Credit$

Oct 1        Cash                                         30,000

               Common Stock                                             30,000

Oct 2       NO entry                                     0

                NO entry                                                         0

Oct 3        Equipment                                3,800

                Accounts Payable                                         3,800

Oct 6       Accounts Receivable                 10,800

                Service Revenue                                            10,800

Oct 10      Cash                                              140

               Service Revenue                                              140

Oct 27     Accounts Payable                        700  

                Cash                                                                  700

Oct 30      Salaries and wages expense    3,000  

                Cash                                                                   3,000

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