Description
This information relates to McCall Real Estate Agency.
Stockholders invest $32,200 in exchange for common stock of the corporation. | ||
2 | Hires an administrative assistant at an annual salary of $33,960. | |
3 | Buys office furniture for $4,170, on account. | |
6 | Sells a house and lot for E. C. Roads; commissions due from Roads, $10,560 (not paid by Roads at this time). | |
10 | Receives cash of $225 as commission for acting as rental agent renting an apartment. | |
27 | Pays $640 on account for the office furniture purchased on October 3. | |
30 | Pays the administrative assistant $2,830 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 | |
---|---|---|
Debit $ | ||
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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