E2-4 Presented below is information related to Beijing Real Estate Agency Ltd.

Credit

Oct. 1

2 3 6

27 30

Lynn Robbins begins business as a real estate agent with a cash investment of 200,000 in exchange for ordinary shares.

Hires an administrative assistant.

Purchases office furniture for 19,000, on account.

Sells a house and lot for N. Fennig; bills N. Fennig 32,000 for realty services performed.

Pays 8,500 on the balance related to the transaction of October 3.

Pays the administrative assistant 25,000 in salary for October.

Journalize transactions.

(LO 4)

Analyze transactions and determine their effect on accounts.

(LO 2)

Journalize transactions.

(LO 4)

Analyze transactions and journalize.

(LO 2, 3, 4)

Analyze transactions and journalize.

(LO 2, 3, 4)

Analyze statements about the ledger.

(LO 5)

Instructions

Prepare the debit-credit analysis for each transaction as illustrated on pages 6570. E2-5 Transaction data for Beijing Real Estate Agency Ltd. are presented in E2-4.

Instructions

Journalize the transactions. (You may omit explanations.) E2-6 Minsk Industries OAO had the following transactions.

1. Borrowed py 50,000 from the bank by signing a note. 2. Paid py 25,000 cash for a computer.

3. Purchased py 4,500 of supplies on account.