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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
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

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
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