Current Attempt in Progress This information relates to Marigold Real Estate Agency. Stockholders invest $31,710 in exchange for common stock of the corporation. Oct. 1 2 Hires an administrative assistant at an annual salary of $32,160. 3 Buys office furniture for $3,910, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,950 (not paid by Roads at this time). 10 Receives cash of $145 as commission for acting as rental agent renting an apartment. 27 Pays $720 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,680 in salary for October. Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Cash Common Stock Oct. 2 ✰ Office furniture <> <> <> Accounts Payable Accounts Receivable Commission revenue Cash Commission revenue Accounts Payable Cash eTextbook and Media List of Accounts Debit 31710 3910 10950 Credit 31710 3910 10950 Save for Later Last saved 1 second ago. Attempts: 0 of 3 used Submit Answer
Current Attempt in Progress This information relates to Marigold Real Estate Agency. Stockholders invest $31,710 in exchange for common stock of the corporation. Oct. 1 2 Hires an administrative assistant at an annual salary of $32,160. 3 Buys office furniture for $3,910, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,950 (not paid by Roads at this time). 10 Receives cash of $145 as commission for acting as rental agent renting an apartment. 27 Pays $720 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,680 in salary for October. Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Cash Common Stock Oct. 2 ✰ Office furniture <> <> <> Accounts Payable Accounts Receivable Commission revenue Cash Commission revenue Accounts Payable Cash eTextbook and Media List of Accounts Debit 31710 3910 10950 Credit 31710 3910 10950 Save for Later Last saved 1 second ago. Attempts: 0 of 3 used Submit Answer
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 51P
Related questions
Question
I tried solving some but I am not sure if what I have is right.
Transcribed Image Text:Current Attempt in Progress
This information relates to Marigold Real Estate Agency.
Stockholders invest $31,710 in exchange for common stock of the corporation.
Oct. 1
2
Hires an administrative assistant at an annual salary of $32,160.
3
Buys office furniture for $3,910, on account.
6
Sells a house and lot for E. C. Roads; commissions due from Roads, $10,950 (not paid by Roads at this time).
10
Receives cash of $145 as commission for acting as rental agent renting an apartment.
27
Pays $720 on account for the office furniture purchased on October 3.
30
Pays the administrative assistant $2,680 in salary for October.
Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit
account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the
order presented in the problem. List all debit entries before credit entries.)
Date
Account Titles and Explanation
Cash
Common Stock
Oct. 2 ✰
Office furniture
<>
<>
<>
Accounts Payable
Accounts Receivable
Commission revenue
Cash
Commission revenue
Accounts Payable
Cash
eTextbook and Media
List of Accounts
Debit
31710
3910
10950
Credit
31710
3910
10950
Save for Later Last saved 1 second ago.
Attempts: 0 of 3 used
Submit Answer
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