contestada

This information relates to Bridgeport Real Estate Agency.
Oct. 1 Stockholders invest $33,380 in exchange for common stock of the corporation.
2 Hires an administrative assistant at an annual salary of $37,320.
3 Buys office furniture for $4,060, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,630 (not paid by Roads at this time).
10 Receives cash of $240 as commission for acting as rental agent renting an apartment.
27 Pays $680 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $3,110 in salary for October.
Prepare the debit-credit analysis for each transaction. (If there is no transaction, then enter No Effect for the account and for the amount.)
Oct. 1 33,380
Debits No Effect
Debit Cash
Credits No Effect
Credit Common Stock
Debits No Effect
Debit No Effect 33380
Oct.2
Credits NOE
Oct. 3
Credit No Effect
Debits Increase Assets
Debit Equipment
Credits
Credit
Oct. 6 Debits
Debit
Credits
Credit
Oct. 10 Debits
Debit
Credits
Credit
Oct. 27 Debits
Debit
Credits
Credit
Oct 30 Debits
Debit
Credits
Credit

Respuesta :

abiolataiwo2015

Answer:

Oct. 1

Dr Increase Assets

Dr Cash $33,380

Cr Increase stockholders'equity

Cr Common stock $29,100

Oct. 2

Dr No Effect

Dr No Effect $0

Cr No Effect

Cr No Effect $0

Oct. 3

Dr Increase Assets

Dr Office furniture $4,060

Cr Increase Liabilities

Cr Accounts payable $4,060

Oct. 6

Dr Increase Assets

Dr Accounts receivable $10,630

Cr Increase Revenues

Cr Service revenue $10,630

Oct. 10

Dr Increase Assets

Dr Cash $240

Cr Increase Revenues

Cr Service revenue $240

Oct. 27

Dr Decrease Liabilities

Dr Accounts payable $680

Cr Decrease Assets

Cr Cash $680

Oct. 30

Dr Increase Expenses

Dr Salaries and wages expense $3,110

Cr Decrease Assets

Cr Cash $3,110

Explanation:

Preparation of the debit-credit analysis for each transaction.

Oct. 1

Dr Increase Assets

Dr Cash $33,380

Cr Increase stockholders'equity

Cr Common stock $29,100

(Being To record common stock)

Oct. 2

Dr No Effect

Dr No Effect $0

Cr No Effect

Cr No Effect $0

Oct. 3

Dr Increase Assets

Dr Office furniture $4,060

Cr Increase Liabilities

Cr Accounts payable $4,060

( Being To record purchase of office furniture)

Oct. 6

Dr Increase Assets

Dr Accounts receivable $10,630

Cr Increase Revenues

Cr Service revenue $10,630

( Being To record service revenue)

Oct. 10

Dr Increase Assets

Dr Cash $240

Cr Increase Revenues

Cr Service revenue $240

(Being To record service revenue)

Oct. 27

Dr Decrease Liabilities

Dr Accounts payable $680

Cr Decrease Assets

Cr Cash $680

(Being To record payment of office furniture)

Oct. 30

Dr Increase Expenses

Dr Salaries and wages expense $3,110

Cr Decrease Assets

Cr Cash $3,110

(Being To record salaries expense)

Otras preguntas