Question
This information relates to Indigo Real Estate Agency. Oct. 1 Stockholders invest $31,830 in exchange for common stock of the corporation. 2 Hires an administrative
This information relates to Indigo Real Estate Agency.
Oct. 1 | Stockholders invest $31,830 in exchange for common stock of the corporation. | |
2 | Hires an administrative assistant at an annual salary of $38,400. | |
3 | Buys office furniture for $3,910, on account. | |
6 | Sells a house and lot for E. C. Roads; commissions due from Roads, $11,300 (not paid by Roads at this time). | |
10 | Receives cash of $190 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 $3,200 in salary for October. |
Oct. 6 | Debits select an increase or decrease of an item Decrease Stockholders EquityIncrease RevenuesDecrease RevenuesDecrease ExpensesDecrease AssetsIncrease LiabilitiesIncrease ExpensesDecrease LiabilitiesNo EffectIncrease AssetsIncrease Stockholders Equity | |
---|---|---|
Debit enter an account title No EffectAccounts ReceivableAccounts PayableService RevenueSalaries and Wages ExpenseCashCommon StockEquipment $enter a dollar amount | ||
Credits select an increase or decrease of an item Increase AssetsDecrease LiabilitiesIncrease ExpensesIncrease Stockholders EquityDecrease AssetsDecrease Stockholders EquityIncrease LiabilitiesIncrease RevenuesDecrease RevenuesDecrease ExpensesNo Effect | ||
Credit enter an account title CashAccounts PayableAccounts ReceivableNo EffectService RevenueSalaries and Wages ExpenseCommon StockEquipment $enter a dollar amount
Hello I needed help with how to enter Oct 6 entries as credit and debits thanks |
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