nstructions On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during...
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nstructions On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct. 1 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 Paid rent on office and equipment for the month, $2,450. 3 Purchased supplies on account, $2,200. 4 Paid creditor on account, $860. in 5 6 Earned sales commissions, receiving cash, $16,430. Paid automobile expenses (including rental charge) for month, $1,650, and miscellaneous expenses, $690. Paid office salaries, $2,200. 7 00 8 Determined that the cost of supplies used was $1,100. 9 Paid dividends, $3,600. 1. Journalize entries for transactions Oct. 1 through 9. Refer to the Chart of Accounts for exact wording of account titles. 2. Post the journal entries to the Taccounts, selecting the appropriate date to the left of each amount to identify the transactions. De account balances, after all posting is complete. Accounts containing only a single entry do not need a balance. nstructions On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct. 1 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 Paid rent on office and equipment for the month, $2,450. 3 Purchased supplies on account, $2,200. 4 Paid creditor on account, $860. in 5 6 Earned sales commissions, receiving cash, $16,430. Paid automobile expenses (including rental charge) for month, $1,650, and miscellaneous expenses, $690. Paid office salaries, $2,200. 7 00 8 Determined that the cost of supplies used was $1,100. 9 Paid dividends, $3,600. 1. Journalize entries for transactions Oct. 1 through 9. Refer to the Chart of Accounts for exact wording of account titles. 2. Post the journal entries to the Taccounts, selecting the appropriate date to the left of each amount to identify the transactions. De account balances, after all posting is complete. Accounts containing only a single entry do not need a balance.
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