This information relates to Bridgeport Real Estate Agency. Oct.1 Stockholders invest $33,380 in exchange for common stock of the corporation.
2 Hires an administrative assistant at an annual salary of $37,320.
3 Buys office furniture for $4,060, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,630
(not paid by Roads at this time).
10 Receives cash of $240 as commission for acting as rental agent renting an
apartment.
27 Pays $680 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $3,110 in salary for October.
Prepare the debit-credit analysis for each transaction.
Oct. 1 Debits No Effect
Debit Cash 33,380
Credits No Effect
Credit Common Stock 33,380
Debits No Effect
Debit No Effect
Oct.2 Credits No Effect
Oct. 3 Credit No Effect
Debits Increase Assets
Debit Equipment
Credits
Credit
Oct. 6 Debits
Debit
Credits
Credit
Oct. 10 Debits
Debit
Credits
Credit
Oct. 27 Debits
Debit
Credits
Credit
Oct 30 Debits
Debit
Credits
Credit