Question

Question 4 This information relates to McCall Real Estate Agency Oct. 1 Stockholders invest $31,400 in exchange for common stock of the corporation 2 Hires an administrative assistant at an annual salary of $32,760. 3 Buys office furniture for $3,840, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,230 (not paid by Roads at this time) 10 Receives cash of $240 as commission for acting as rental agent renting an apartment 27 30 Pays $730 on account for the office furniture purchased on October 3 Pays the administrative assistant $2,730 in salary for October.

Answer 1

Answer

Preparation of T Accounts for given information

Preparation of trail balance of Mccall real estate agency for october 31 2017

Particulars	Debit ($)	Credit ($)
Cash	28,180
Account receivable	10,230
Equipment	3,840
Common stock		31,400
Revenue		10,470
Salaries and wages	2,730
Creditors		3110
Total	44,980	44,980