The following information relates to Coronado Real Estate Agency. Oct. 1 Alan Coronado begins business as a real estate agent with a cash investment of $13950 Oct. 2 Hres an administrative assistant Oct. 3 Purchases office furniture for $1,767 on account Oct. 6 Sells a house and lot for R. Craig bills R. Craig $3,534 for realty services performed. Oct. 27 Pays $1,023 on the balance realted to the transaction of October 3. Oct. 30 Pays the administrative assistant $2,325 in salary for October. Prepare the debit-credit analysis for each transaction.
The following information relates to Coronado Real Estate Agency. Oct. 1 Alan Coronado begins business as a real estate agent with a cash investment of $13950 Oct. 2 Hres an administrative assistant Oct. 3 Purchases office furniture for $1,767 on account Oct. 6 Sells a house and lot for R. Craig bills R. Craig $3,534 for realty services performed. Oct. 27 Pays $1,023 on the balance realted to the transaction of October 3. Oct. 30 Pays the administrative assistant $2,325 in salary for October. Prepare the debit-credit analysis for each transaction.
Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses
Section: Chapter Questions
Problem 21CE
Related questions
Question
The following information relates to Coronado Real Estate Agency.
Oct. 1 Alan Coronado begins business as a real estate agent with a cash investment of $13950
Oct. 2 Hres an administrative assistant
Oct. 3 Purchases office furniture for $1,767 on account
Oct. 6 Sells a house and lot for R. Craig bills R. Craig $3,534 for realty services performed.
Oct. 27 Pays $1,023 on the balance realted to the transaction of October 3.
Oct. 30 Pays the administrative assistant $2,325 in salary for October.
Prepare the debit-credit analysis for each transaction.
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