Current Attempt in Progress This information relates to Culver Real Estate Agency. Oct. 1 2 3 6 10 27 30 Date Oct. 1 2 3 10 27 30 Stockholders invest $30,900 in exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $32,160. Buys office furniture for $3,790, on account. Sells a house and lot for E. C. Roads; commissions due from Roads, $10,180 (not paid by Roads at this time). Receives cash of $190 as commission for acting as rental agent renting an apartment. Pays $610 on account for the office furniture purchased on October 3. Pays the administrative assistant $2,680 in salary for October. Account Titles and Explanation Cash Common Stock No entry Equipment Accounts Payable Accounts Receivable Service Revenue Cash Service Revenue Accounts Payable Cash Salaries and Wages Expense Cash Debit Credit 30,900 3,790 10,180 190 610 2,680 30,900 3.790 10.180 190 610 2.680
Current Attempt in Progress This information relates to Culver Real Estate Agency. Oct. 1 2 3 6 10 27 30 Date Oct. 1 2 3 10 27 30 Stockholders invest $30,900 in exchange for common stock of the corporation. Hires an administrative assistant at an annual salary of $32,160. Buys office furniture for $3,790, on account. Sells a house and lot for E. C. Roads; commissions due from Roads, $10,180 (not paid by Roads at this time). Receives cash of $190 as commission for acting as rental agent renting an apartment. Pays $610 on account for the office furniture purchased on October 3. Pays the administrative assistant $2,680 in salary for October. Account Titles and Explanation Cash Common Stock No entry Equipment Accounts Payable Accounts Receivable Service Revenue Cash Service Revenue Accounts Payable Cash Salaries and Wages Expense Cash Debit Credit 30,900 3,790 10,180 190 610 2,680 30,900 3.790 10.180 190 610 2.680
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 59P
Related questions
Question
Vd
Sub: accounting
Transcribed Image Text:Current Attempt in Progress
This information relates to Culver Real Estate Agency.
Oct. 1
2
3
6
10
27
30
Date
Oct. 1
2
3
27
Stockholders invest $30,900 in exchange for common stock of the corporation.
Hires an administrative assistant at an annual salary of $32,160.
Buys office furniture for $3,790, on account.
Sells a house and lot for E. C. Roads; commissions due from Roads, $10,180 (not paid by Roads at this time).
Receives cash of $190 as commission for acting as rental agent renting an apartment.
Pays $610 on account for the office furniture purchased on October 3.
Pays the administrative assistant $2,680 in salary for October.
30
Account Titles and Explanation
Cash
Common Stock
No entry
Equipment
Accounts Payable
Accounts Receivable
10 Cash
Service Revenue
Service Revenue
Accounts Payable
Cash
Salaries and Wages Expense
Cash
Debit Credit
30,900
3,790
10,180
190
610
2,680
30,900
3,790
10.180
190
610
2,680
Transcribed Image Text:Post the transactions to T-accounts and determine month-end balances. (Post entries in the order of information presented in the
question)
Oct. 30 V
Cash
Accounts Receivable
Oct. 30
Equipment
Accounts Payable
Common Stock
Service Revenue
Salaries and Wages Expense
10
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