Question

DAILY REMINDER REMOTE AFTE... o Staff Timesheets for SONYC Sta. Weygandt, Accounting Principles, 13e Wiley PLUS Google WileyPLUS: MyWiley PLUS I Help Contact Us Principles of Accounting 13e (ACC 171-185 CALCULATOR STANDARD VIEW PRINTER VERSION BACK NI Exercise 2-04 (Video) The following information relates to Coronado Real Estate Agency Oct. 1 James Coronado begins business as a real estate agent with a cash investment of $19,500. 2 Hires an administrative assistant. 3 Purchases office furniture for $2,470, on account. 6 Sells a house and lot for C. Rouse; bills C. Rouse $4,680 for realty services performed. 27 Pays $1,430 on the balance related to the transaction of October 3. 30 Pays the administrative assistant $3,250 in salary for October Prepare the debit-credit analysis for each transaction. (If no entry is required, select "No Entry for the account titles and enter for the amounts.) Oct. 1 Effect on Amounts Debits Debit-Credit Analysis Effect on Accounting Equation . Debit Cash Credit Owner's Capital $ Credits Oct. 2 Debits Debit No Entry Credits . Credit No Entry : Oct. 3 Debits . Debit Equipment Credits . Credit $ Oct. 6 Debits Debit $ Credits Credit

Answer 1

Cash A/C. 19500

To Capital A/c. 19500

Furniture A/C. 2470

To creditors for creditors A/c. 2470

Cash A/c. 4680

To Sales A/c. 4680

Creditors for furniture A/c. 1430

To Cash A/c. 1430

Salary A/c. 3250

To Cash A/c. 3250.