a This information relates to Cheyenne Real Estate Agency Oct 1 Stockholders invest $31,770 in exchange for common stock of the corporation 2 Hires an administrative assistant at an annual salary of $42,720 3 Buys office furniture for $3,740, on account 6 Sells a house and lot for E C Roads commissions due from Roads, $10,430 (not paid by Roads at this time) 10 Receives cash of $185 as commission for acting as rental agent renting an apartment 27 Pays $800 on account for the office furniture purchased on October 3 30 Pays the administrative assistant $3,560 in salary for October Journalize the transactions (If no entry is required, select No entry for the account titles and enter 0 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 date Account Titles and Explanation debt credit b This information relates to Sarasota Real Estate Agency 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 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 the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit balance choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit balance Accounts Receivable choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit amount choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit amount choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit balance choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit balance Equipment choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit amount choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit amount choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit balance choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit balance Accounts Payable choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit amount choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit amount choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit balance choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit balance Common Stock choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit amount choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit amount choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit balance choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit balance Service Revenue choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit amount choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit amount choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit amount choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit amount choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit balance choose the end date of the accounting period Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit balance Salaries and Wages Expense choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a debit amount choose a transaction date Oct 1Oct 2Oct 3Oct 6Oct 10Oct 27Oct 30Bal enter a credit amount

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 15, 2024

a. This information relates to Cheyenne Real Estate Agency. Oct. 1 Stockholders invest $31,770 in exchange for common stock of the corporation. 2 Hires an

a. This information relates to Cheyenne Real Estate Agency.

Oct. 1		Stockholders invest $31,770 in exchange for common stock of the corporation.
2		Hires an administrative assistant at an annual salary of $42,720.
3		Buys office furniture for $3,740, on account.
6		Sells a house and lot for E. C. Roads; commissions due from Roads, $10,430 (not paid by Roads at this time).
10		Receives cash of $185 as commission for acting as rental agent renting an apartment.
27		Pays $800 on account for the office furniture purchased on October 3.
30		Pays the administrative assistant $3,560 in salary for October.

Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 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

date

Account Titles and Explanation

debt

credit

b. This information relates to Sarasota Real Estate Agency.

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.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Tools for business decision making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

6th Edition

978-1119191674, 047053477X, 111919167X, 978-0470534779

More Books

Students also viewed these Accounting questions

Question

★★★★★

The following are independent questions. Required (a) List four factors that make audit evidence more reliable. (b) Explain the difference between positive and negative confirmations for accounts...

Answered: 1 week ago

Question

★★★★★

The December 31, 20X0, Statement of Net Assets of Mosholu Medical Center, a major urban hospital and research center, is presented. The following transactions and events occurred in 20Xl: 1. The...

Answered: 1 week ago

Question

★★★★★

=+c) Would it be appropriate to run a multiple comparisons test (for example, a Bonferroni test) to see which tellers differ from each other? Explain.

Answered: 1 week ago

Question

★★★★★

The following data were selected from the records of Tunga Company for the year ended December 31, 2015: The company sells merchandise for cash and on open account with credit terms 2/ 10, n/ 30....

Answered: 1 week ago

Question

★★★★★

As a long-term investment, Painters' Equipment Company purchased 20% of AMC Supplies Inc.'s 460,000 shares for $540,000 at the beginning of the fiscal year of both companies. On the purchase date,...

Answered: 1 week ago

Question

★★★★★

Prob 1 Quality of Life QOL-Base QOL-3mo Delta WUNNN W n (number of Pairs) 1-pt Mean = Std. Dev.= SE= Ho: ud = Ha: ud # tstat = From Table C and df = 9, then p> Conclusion 1-pt Prob 2 Histidine...

Answered: 1 week ago

Question

★★★★★

What experience you have with computers and taking online courses. Are you ready to get certified in Network , and how might doing so help you with a future job and/or career

Answered: 1 week ago

Question

★★★★★

Doyen Constructions Pty Ltd is a multinational construction and property investment company based in Sydney. After failure to make profits from a number of construction projects with major commercial...

Answered: 1 week ago

Question

★★★★★

Take notes throughout the ELO then complete the following questions that apply to your selected event. (you can develop your own questions that explain your experience attending the event) 1. Explain...

Answered: 1 week ago

Question

★★★★★

Our company makes and sells cell-phone sanitizer units. Cell phones are inserted inside the units and bathed in UV-C ultraviolet light that eliminates 99.9% of bacteria and viruses in approximately...

Answered: 1 week ago

Question

★★★★★

Suppose that a student suffering from migraine has a medical history that indicates the following probabilities. The probability that you will have a migraine in one day is 25%. If she has a migraine...

Answered: 1 week ago

Question

★★★★★

OUTCOME 2 Describe how a training needs assessment should be done.

Answered: 1 week ago

Question

★★★★★

3 supervisors and 28 employees in the new procedures. What training method(s) would you use? Why?

Answered: 1 week ago

Question

★★★★★

OUTCOME 4 Identify the types of training-delivery methods organizations use.

Answered: 1 week ago

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