Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information relates to Crane Real Estate Agency. Oct. 1 2 3 Alan Sanculi begins business as a real estate agent with a cash

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The following information relates to Crane Real Estate Agency. Oct. 1 2 3 Alan Sanculi begins business as a real estate agent with a cash investment of $15,250. Hires an administrative assistant Purchases equipment for $2,000, on account. Sells a house and lot for R. Craig; bills R. Craig $3,780 for realty services performed. Pays $1,130 on the balance related to the transaction of October 3. Pays the administrative assistant $2,220 in salary for October 6 27 30 Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter of Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Ref. Debit Journalize the transactions. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Ref. Credit Debit e Textbook and Media The accounts in the ledger of Waterway Delivery Service contain the following balances on July 31, 2022. All accounts have normal balances. $7,615 8.885 Accounts Receivable Accounts Payable Cash Equipment Gasoline Expense Utilities Expense Notes Payable 49,790 860 Prepaid Insurance Maintenance and Repairs Expense Service Revenue Owner's Drawings Owner's Capital Salaries and Wages Expense Salaries and Wages Payable $2,000 910 10,850 770 46,300 4,010 800 575 16,780 Prepare a trial balance with the accounts arranged as illustrated in the chapter and fill in the missing amount for cash. WATERWAY DELIVERY SERVICE Trial Balance Debit Credit Debit Credit $ Totals $ $

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_2

Step: 3

blur-text-image_3

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

Behavioural Public Finance Individuals, Society, And The State

Authors: M Mustafa Erdogdu

1st Edition

0367631202, 9780367631208

More Books

Students also viewed these Accounting questions

Question

2. What role should job descriptions play in training at Apex?

Answered: 1 week ago