Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please fill out all the question On October 1. 20Y6, Jax Crowley estoblshed Affordable Realty, which completed the following transactions during the month Oct 1

please fill out all the question
image text in transcribed
image text in transcribed
image text in transcribed
On October 1. 20Y6, Jax Crowley estoblshed Affordable Realty, which completed the following transactions during the month Oct 1 lay Crowicy transterred cash from a personal bank account to an account to be usod for the business in exchange for common stock $40,000 2. Paid rent on office and equipment for the month, $4.800 3 Purchased supplies on account, $2.150 - 4 Paid creditor on account $1 100 5 Earhed sales commissions, recoiving cash $18.750 6 Paid automobile expenses (including rental chargo) for month, $1,580, and miscelianeous expenses, $800 7 Paid office salaries, $3,500 8 Determined that the cost of supplies used was $1,300 9 Paid dividends 51.500 Required 1. Joumalize entries for transactions Oct 1 through 9 2. Post the journal entries to the T jocounts Determine the account balancos after all posting is complete Accounts containing only a single entry do not need a balance 3 Prepare an unad/usted trial balance as of October 31. 20Y6 4 Determine the following a. Amount of total revenue recorded in the ledger b. Amount of total expenses rocorded in the ledger o Amount of net income for October. 5 Determme the increase or decrease in rethined earnings for October GENERAL JOURNAL \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Assots } \\ \hline Dobit & Credt \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Stockhoides' Equity } \\ \hline Debit & Credi \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Revonue } \\ \hline Debit & Credit \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Experses } \\ \hline Debit & Credit \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Cash } \\ \hline Debt & Credit \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|} \hline \multicolumn{2}{|c|}{ Soles Commssions } \\ \hline Dobit & Credit \\ \hline & \\ \hline & Pebit & Pent Expense \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline Suples \\ \hline Dobit & Crodit \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Dwidend } \\ \hline Debit & Credit \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Automobile Expense } \\ \hline Debit & Credit \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Misc Expense } \\ \hline Debit & Credi \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Solaries Expense } \\ \hline Dobit & Credit \\ \hline \end{tabular}

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

Step: 3

blur-text-image

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

Practice Management With Auditing For Coders

Authors: Elsevier

1st Edition

0323482333, 978-0323482332

More Books

Students also viewed these Accounting questions