Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

prepare a debit-credit analysis This information relates to Blue Real Estate Agency. Oct. 1 Stockholders imvest $30,700 in exchange for common stock of the corporation.

prepare a debit-credit analysis
image text in transcribed
image text in transcribed
This information relates to Blue Real Estate Agency. Oct. 1 Stockholders imvest $30,700 in exchange for common stock of the corporation. 2 Hitresan administrative assistant at an annual salary of $33,480. 3 Buys olfice furniture for $4,100, on account. 6 Sells a house and lot for E. C. Roads commissions due from Roads, $11.270 (not paid by Roads at this time). 10 Receives cash of $215 a5 commission for acting as rental agent renting an apartment. 27 Pays $770 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $2,790 in salary for October. Prepare the debit-credit analysis for each transaction. (If there is no transaction, then select 'No Effect' for the occount.) Oct.2 Debits. Debit Credits Credit Oct 3 Debits Debit Credits Credit s. Oct. Debits Debit Credits Crodit 5

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Accounting questions