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This information relates to Sheffield Real Estate Agency. Stockholders invest $31,130 in exchange for common stock of the corporation. Oct. 1 Hires an administrative assistant
This information relates to Sheffield Real Estate Agency. Stockholders invest $31,130 in exchange for common stock of the corporation. Oct. 1 Hires an administrative assistant at an annual salary of $42,120. 2 Buys office furniture for $3,830, on account 3 Sells a house and lot for E. C. Roads; commissions due from Roads, $12,570 (not paid by Roads at this time) 6 Receives cash of $240 as commission for acting as rental agent renting an apartment. 10 Pays $680 on account for the office furniture purchased on October 3 27 Pays the administrative assistant $3,510 in salary for October 30 Prepare the debit-credit analysis for each transaction. (If there is no transaction, then enter No Effect for the account and 0 for the amount.) Debits Oct. 1 Debit $ Credits $ Credit Debits Oct. 2 $ Debit Credits Debits Oct. 2 Debit Credits Credit Debits Oct. 3 $ Debit Credits Credit Debits Oct. 6 $ Debit Credits Credit $ Debits Oct. 10 Debit $ tA Debits Oct. 10 Debit Credits Credit Debits Oct. 27 Debit $ Credits $ Credit Debits Oct. 30 $ Debit Credits $ Credit tA
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