Business, 15.01.2020 20:31 sammiehammer

This information relates to pickert real estate agency.

oct. 1 stockholders invested $30,000 in exchange for common stock of the corporation.
oct. 2 hires an administrative assistant at an annual salary of $42,000.
oct. 3 buys office furniture for $4,600, on account.
oct. 6 sells a house and lot for m. e. petty; commissions due from petty, $10,800 (not paid by petty at this time).
oct. 10 receives cash of $140 as commission for acting as rental agent renting an apartment.
oct. 27 pays $700 on account for the office furniture purchased on october 3.
oct. 30 pays the administrative assistant $3,500 in salary for october.

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.)

oct. 1 debits increase assets:
debit cash $ 3
credits increase stockholders' equity:
credit common stock $ 3

oct. 2 debits increase no effect:
$
credits increase
credit $

oct 3 debits increase assets:
debit $ 4600
credits increase liabilities:
credit accounts payable $ 4600 .

oct. 6 debits increase :
debit $
credits increase :
credit $

oct. 10 debits increase assets:
debit cash $ 140
credits increase
credit $

oct 27 debits decrease :
$
credits decrease :
$

oct 30 debits increase :
debit $
credits decrease :
credit $

Answers: 3

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This information relates to pickert real estate agency.

oct. 1 stockholders invested $30...

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