a.

Oct. 1		Stockholders invest $ 30,500 in exchange for common stock of the corporation.
2		Hires an administrative assistant at an annual salary of $ 31,680.
3		Buys office furniture for $ 3,750, on account.
6		Sells a house and lot for E. C. Roads; commissions due from Roads, $ 10,140 (not paid by Roads at this time).
10		Receives cash of $ 150 as commission for acting as rental agent renting an apartment.
27		Pays $ 720 on account for the office furniture purchased on October 3.
30		Pays the administrative assistant $ 2,640 in salary for October.

Post the transactions to T-accounts. (Post entries in the order of information presented in the question.)

Cash
choose a transaction date Oct. 1Oct. 2Oct. 3Oct. 6Oct. 10Oct. 27Oct. 30	enter a debit amount	choose a transaction date Oct. 1Oct. 2Oct. 3Oct. 6Oct. 10Oct. 27Oct. 30	enter a credit amount
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Accounts Receivable
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Equipment
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Accounts Payable
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Common Stock
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Service Revenue
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose the end date of the accounting period	enter a debit balance	choose the end date of the accounting period	enter a credit balance
Salaries and Wages Expense
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount

b.

Sept. 1		Issued common stock in exchange for $ 18,200 cash received from investors.
5		Purchased equipment for $ 9,270, paying $ 2,810 in cash and the balance on account.
8		Performed services on account for $ 18,700.
14		Paid salaries of $ 1,900.
25		Paid $ 2,650 cash on balance owed for equipment.
30		Paid $ 720 cash dividend.

Complete a tabular analysis of the September transactions. For transactions affecting stockholders equity, provide explanations in the far right column. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-4 for example.)

		Assets					=	Liabilities	+	Stockholders Equity
												Retained Earnings
		Cash	+	Accounts Receivable	+	Equipment	=	Accounts Payable	+	Common Stock	+	Revenues		Expenses		Dividends
Sept. 1		$ enter a dollar amount for Cash for September 1 transaction		$ enter a dollar amount for Accounts Receivable for September 1 transaction		$ enter a dollar amount for Equipment for September 1 transaction		$ enter a dollar amount for Accounts Payable for September 1 transaction		$ enter a dollar amount for Common Stock for September 1 transaction		$ enter a dollar amount for Revenues for September 1 transaction		$ enter a dollar amount for Expenses for September 1 transaction		$ enter a dollar amount for Dividends for September 1 transaction		select an explanation for changes to stockholders equity Salaries and Wages ExpenseDividendsService RevenueIssued StockRent Expense
Sept. 5		enter a dollar amount for Cash for September 5 transaction		enter a dollar amount for Accounts Receivable for September 5 transaction		enter a dollar amount for Equipment for September 5 transaction		enter a dollar amount for Accounts Payable for September 5 transaction		enter a dollar amount for Common Stock for September 5 transaction		enter a dollar amount for Revenues for September 5 transaction		enter a dollar amount for Expenses for September 5 transaction		enter a dollar amount for Dividends for September 5 transaction		select an explanation for changes to stockholders equity Service RevenueIssued StockSalaries and Wages ExpenseDividendsRent Expense
Sept. 8		enter a dollar amount for Cash for September 8 transaction		enter a dollar amount for Accounts Receivable for September 8 transaction		enter a dollar amount for Equipment for September 8 transaction		enter a dollar amount for Accounts Payable for September 8 transaction		enter a dollar amount for Common Stock for September 8 transaction		enter a dollar amount for Revenues for September 8 transaction		enter a dollar amount for Expenses for September 8 transaction		enter a dollar amount for Dividends for September 8 transaction		select an explanation for changes to stockholders equity DividendsIssued StockRent ExpenseService RevenueSalaries and Wages Expense
Sept. 14		enter a dollar amount for Cash for September 14 transaction		enter a dollar amount for Accounts Receivable for September 14 transaction		enter a dollar amount for Equipment for September 14 transaction		enter a dollar amount for Accounts Payable for September 14 transaction		enter a dollar amount for Common Stock for September 14 transaction		enter a dollar amount for Revenues for September 14 transaction		enter a dollar amount for Expenses for September 14 transaction		enter a dollar amount for Dividends for September 14 transaction		select an explanation for changes to stockholders equity DividendsRent ExpenseIssued StockSalaries and Wages ExpenseService Revenue
Sept. 25		enter a dollar amount for Cash for September 25 transaction		enter a dollar amount for Accounts Receivable for September 25 transaction		enter a dollar amount for Equipment for September 25 transaction		enter a dollar amount for Accounts Payable for September 25 transaction		enter a dollar amount for Common Stock for September 25 transaction		enter a dollar amount for Revenues for September 25 transaction		enter a dollar amount for Expenses for September 25 transaction		enter a dollar amount for Dividends for September 25 transaction		select an explanation for changes to stockholders equity DividendsService RevenueRent ExpenseSalaries and Wages ExpenseIssued Stock
Sept. 30		enter a dollar amount for Cash for September 30 transaction		enter a dollar amount for Accounts Receivable for September 30 transaction		enter a dollar amount for Equipment for September 30 transaction		enter a dollar amount for Accounts Payable for September 30 transaction		enter a dollar amount for Common Stock for September 30 transaction		enter a dollar amount for Revenues for September 30 transaction		enter a dollar amount for Expenses for September 30 transaction		enter a dollar amount for Dividends for September 30 transaction		select an explanation for changes to stockholders equity DividendsIssued StockSalaries and Wages ExpenseService RevenueRent Expense
		$ enter a balance amount		$ enter a balance amount		$ enter a balance amount	=	$ enter a balance amount