FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

bartleby

Concept explainers

Question

i just needhelp with the second entry the rest are correct

 

 

 

 

 This information relates to Sarasota Real Estate Agency.

Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter O 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 Oct. 1 Stockholders invest $31,580 in exchange for common stock of the corporation.

Hires an administrative assistant at an annual salary of $33,360.

Buys office furniture for $3,650, on account.

Sells a house and lot for E. C. Roads; commissions due from Roads, $11,680 (not paid by Roads at this time).

Receives cash of $135 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 $2,780 in salary for October.

 

B
01.1
2
3
Buys office furniture for $3.650, on account
Sells a house and lot for E.C. Raadscommissions due from Roads $11.680 (not paid by Roads at this timel
10
Receives cash of $135 a commission for acting as rental agent renting an apartment
27 Pwys $610 on account for the office furniture purchased on October 3
30 Pays the dinistrative and $2.700 in salary for October
Date
relates to Sarasota Real Estate Agency
Stockholders invest $31.580 in exchange
Hires an administrative assistant at an annual salary of $33,360.
Journalize the transactions the entry is med select "No Entry for the account titles and enter Ofor the amounts Credit account titles are out
indent manually Record journal entries in the order presented in the problem List oll debit entries before credit entries)
Account Titles and Explanation
Ch
On1
01.2
mon stock of the corporation
Salaris and Wages Expose
Debit
31580
2700
Credit
21300
3700
Do not
expand button
Transcribed Image Text:B 01.1 2 3 Buys office furniture for $3.650, on account Sells a house and lot for E.C. Raadscommissions due from Roads $11.680 (not paid by Roads at this timel 10 Receives cash of $135 a commission for acting as rental agent renting an apartment 27 Pwys $610 on account for the office furniture purchased on October 3 30 Pays the dinistrative and $2.700 in salary for October Date relates to Sarasota Real Estate Agency Stockholders invest $31.580 in exchange Hires an administrative assistant at an annual salary of $33,360. Journalize the transactions the entry is med select "No Entry for the account titles and enter Ofor the amounts Credit account titles are out indent manually Record journal entries in the order presented in the problem List oll debit entries before credit entries) Account Titles and Explanation Ch On1 01.2 mon stock of the corporation Salaris and Wages Expose Debit 31580 2700 Credit 21300 3700 Do not
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Accounting
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.
Similar questions
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education