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I Can't figure out what is the right answers for these red columns. Can someone help me? This information relates to Sarasota Real Estate Agency.
I Can't figure out what is the right answers for these red columns. Can someone help me?
This information relates to Sarasota Real Estate Agency. Oct. 1 Stockholders invest $31,580 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $33.360. 3 Buys office furniture for $3,650, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $11,680 (not paid by Roads at this time). 10 Receives cash of $135 as commission for acting as rental agent renting an apartment. 27 Pays $610 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,780 in salary for October. Oct. 6 Debits Increase Assets Debit Accounts Receivable 11,680 Credits Increase Stockholders' Equity Credit Service Revenue 11,680 Oct. 10 Debits Increase Assets Debit Cash 135 Credits Increase Stockholders' Equity Credit Service Revenue 135 Oct. 27 Debits Decrease Liabilities Accounts Payable $ 610 Debit Credits Credit Decrease Assets Cash $ 610 Oct. 30 Debits Decrease Stockholders' Equity Debit Salaries and Wages Expense 2,780 Credits Decrease Assets Credit Cash 2,780Step by Step Solution
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