Oct 1 Cash A/c ....Dr. $28,490
To Common stock A/c .... Cr. $28,490
(Since Dr. what comes in Cr. what goes out. Business started with cash)
Oct 2 No entry
(Since no monetary transaction has taken place)
Oct 3 Office furniture A/c.... Dr. $3,276
To Accounts Payable A/c.... Cr. $3,276
(Since furniture is purchased on account hence Accounts payable is credited)
Oct 6 N. Fennig A/c .... Dr. $5,128
To Service rendered A/c ..... Cr. $5,128
(Since the amounts has not been received)
Oct 27 Accounts Payable A/c... Dr. $1,211
To Cash A/c ..................Cr. $1,211
(Since partial payment is made for furniture through cash)
Oct 30 Salary A/c......... Dr. $3,561
To Cash A/c............Cr. $3,561
(Since salary is paid for administrative assistant in cash)
Presented below is information related to Larkspur, Inc.. Oct. 1 Larkspur begins business as a real...
Presented below is information related to Tamarisk, Inc. Oct. 1 Lynn Robbins begins business as a real estate agent with a cash investment of ¥240,180 in exchange for ordinary shares. 2 Hires an administrative assistant. 3 Purchases office furniture for ¥22,817, on account. 6 Sells a house and lot for N. Fennig; bills N. Fennig ¥38,429 for realty services performed. 27 Pays \10,208 on the balance related to the transaction of October 3. 30 Pays the administrative assistant ¥30,023 in...
Question 2 Presented below is information related to Shamrock, Inc. Oct. 1 Lynn Robbins begins business as a real estate agent with a cash investment of ¥237,440 in exchange for ordinary shares. 2 Hires an administrative assistant. 3 Purchases office furniture for ¥22,557, on account. 6 Sells a house and lot for N. Fennig; bills N. Fennig ¥37,990 for realty services performed. 27 Pays X10,091 on the balance related to the transaction of October 3. 30 Pays the administrative assistant...
Question 2 Presented below is information related to Shamrock, Inc. Oct. 1 Lynn Robbins begins business as a real estate agent with a cash investment of ¥237,440 in exchange for ordinary shares. 2 Hires an administrative assistant. 3 Purchases office furniture for ¥22,557, on account. 6 Sells a house and lot for N. Fennig; bills N. Fennig ¥37,990 for realty services performed. 27 Pays X10,091 on the balance related to the transaction of October 3. 30 Pays the administrative assistant...
Question 2 Presented below is information related to Splish Brothers Inc. Oct. 1 Lynn Robbins begins business as a real estate agent with a cash investment of ¥203,400 in exchange for ordinary shares. 2 Hires an administrative assistant. 3 Purchases office furniture for $19,323, on account. 6 Sells a house and lot for N. Fennig; bills N. Fennig ¥32,544 for realty services performed. 27 Pays ¥8,645 on the balance related to the transaction of October 3. 30 Pays the administrative...
Current Attempt in Progress Presented below is information related to Oriole Company. Oct. 1 2 3 6 Diane Lexington begins business as a real estate agent with a cash investment of $29,358 in exchange for common stock Hires an administrative assistant Purchases office furniture for $3,376, on account Sells a house and lot for N. Fennig; bills N. Fennig $5.284 for realty services performed. Pays $1.248 on the balance related to the transaction of October 3. Pays the administrative assistant...
Exercise 2 Presented below is information related to Lexington Real Estate Agency de 1 Diane l ex ngton begins business as a real estate agent with a cash investment of $17,400 İn exchange for common stock. 2 Hires an administrative assistant. office furniture for $1,950, on account. 6 Sells a house and lot for N. Fennig; bills N. Fennig $3,850 for realty services performed 27 Pays $600 on the balance related to the transaction of October 3. 30 Pays the...
Presented below is information related to Pharoah Company. Oct. 1 2 3 Diane Lexington begins business as a real estate agent with a cash investment of $20,700 in exchange for common stock. Hires an administrative assistant. Purchases office furniture for $1,800, on account. Sells a house and lot for N. Fennig: bills N. Fennig $3,900 for realty services performed. Pays $1.500 on the balance related to the transaction of October 3. Pays the administrative assistant $2,850 in salary for October...
Presented below is information related to Larkspur Company Oct. 1 2 3 6 Diane Lexington begins business as a real estate agent with a cash investment of $28,490 in exchange for common stock. Hires an administrative assistant Purchases office furniture for $3,276, on account. Sells a house and lot for N. Fennig; bills N. Fennig $5,128 for realty services performed. Pays $1,211 on the balance related to the transaction of October 3. Pays the administrative assistant $3,561 in salary for...
Presented below is information related to Conan Real Estate Agency. Oct. 1 - Arnold Conan begins business as a real estate agent with a cash investment of $18,000 in exchange for common stock. 2 - Hires an administrative assistant. 3 - Purchases office equipment for $1,700, on account. 6 – Sells a house and lot to John Homes; bills Homes $4,200 for realty services performed. 27 – Pays $900 on the balance related to the...
The following information relates to Bonita Real Estate Agency. Oct. 1 2 3 James Bonita begins business as a real estate agent with a cash investment of $17,700. Hires an administrative assistant. Purchases office furniture for $2,242, on account. Sells a house and lot for C. Rouse; bills C. Rouse $4,248 for realty services performed. Pays $1,298 on the balance related to the transaction of October 3. Pays the administrative assistant $2,950 in salary for October. 6 27 30 Journalize...