Class Assignment McCall Real Estate Agency

User Generated

Ze.Haxabja

Business Finance

Description

This information relates to McCall Real Estate Agency.



Oct. 1Stockholders invest $32,200 in exchange for common stock of the corporation.
2Hires an administrative assistant at an annual salary of $33,960.
3Buys office furniture for $4,170, on account.
6Sells a house and lot for E. C. Roads; commissions due from Roads, $10,560 (not paid by Roads at this time).
10Receives cash of $225 as commission for acting as rental agent renting an apartment.
27Pays $640 on account for the office furniture purchased on October 3.
30Pays 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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1

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