Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Accounts Journal TAccounts Unadjusted Trial Balance Final Questions Instructions On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the

image text in transcribed
Accounts Journal TAccounts Unadjusted Trial Balance Final Questions Instructions On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct 1. 4 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $31,500 2 Paldront on office and equipment for the month $2,650 3 Purchased supplies on account, $2,200, Paid creditor on account, $830 5 Eamed sales commissions, receiving cash, $14,580 6 Paid automobile expenses (including rental charge) for month, S1,630, and miscellaneous expenses $460 7 Paid office salaries, $2,400 8 Determined that the cost of supplies used was $1,150. Paid dividends, $3,200 1. Journalze entries for transactions Oct. 1 trough 9. Refer to the Chart of Accounts for exact wording of account es 2. Post the journal entries to the accounts, selecting the appropriate date to the left of each amount to identity the transactions. Determine the account balances, after all posting is complete Accounts containing only a single entry do not need a balance Dranaro ona na halanter 11 OR

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_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

The Management System Auditors Handbook

Authors: Joe Kausek

1st Edition

087389670X, 978-0873896702

More Books

Students also viewed these Accounting questions