Homework Help is Here – Start Your Trial Now!
Business
Accounting
This information relates to Culver Real Estate Agency. Oct. 1 2 3 6 10 27 30 Date Oct. 1 2 3 6 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 2,600

This information relates to Culver Real Estate Agency. Oct. 1 2 3 6 10 27 30 Date Oct. 1 2 3 6 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 2,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

please do not provide solution in image format thank you!

Post the transactions to T-accounts and determine month-end balances. (Post entries in the order of information presented in the question) Oct 1 00.2 00.3 Oa6 O.10 O.27 Ox. 30 Bal > > < > Cash Accounts Receivable Equipment Accounts Payable Common Stock Service Revenue > < > > Salaries and Wages Expense
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 1 00.2 00.3 Oa6 O.10 O.27 Ox. 30 Bal > > < > Cash Accounts Receivable Equipment Accounts Payable Common Stock Service Revenue > < > > Salaries and Wages Expense
This information relates to Culver Real Estate Agency. Oct. 1 2 3 6 10 27 30 Date Oct. 1 2 3 6 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 Cush 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:This information relates to Culver Real Estate Agency. Oct. 1 2 3 6 10 27 30 Date Oct. 1 2 3 6 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 Cush Debit Credit 30,900 3,790 10,180 190 610 2.680 30.900 3.790 10.180 190 610 2,680
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting Changes and Error Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS