Presented below is information related to Beijing Real Estate Agency Ltd. Oct. 1 Lynn Robbins begins business
Question:
Oct. 1 Lynn Robbins begins business as a real estate agent with a cash investment of ¥200,000 in exchange for ordinary shares.
2 Hires an administrative assistant.
3 Purchases office furniture for ¥19,000, on account.
6 Sells a house and lot for N. Fennig; bills N. Fennig ¥32,000 for realty services performed.
27 Pays ¥8,500 on the balance related to the transaction of October 3.
30 Pays the administrative assistant ¥25,000 in salary for October.
Instructions
Prepare the debit-credit analysis for each transaction as illustrated on pages 65-70.
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Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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