Question
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.
Post the transactions to T-accounts and complete the following trial balance.(If answer is zero, please enter 0, do not leave any fields blank.)
Question 4
This is the trial balance of Slocombe Company on September 30.
SLOCOMBE COMPANY
Trial Balance
September 30, 2010
Debit
Credit
Cash
$8,300
Accounts Receivable
2,600
Supplies
2,100
Equipment
8,000
Accounts Payable
$5,100
Unearned Revenue
900
Common Stock
15,000
$21,000
$21,000
The October transactions were as follows.
Oct. 5
Received $1,300 in cash from customers for accounts receivable due.
10
Billed customers for services performed $5,100.
15
Paid employee salaries $1,400.
17
Performed $600 of services for customers who paid in advance in August.
20
Paid $1,500 to creditors for accounts payable due.
29
Paid a $300 cash dividend.
31
Paid utilities $500.
Post to ledger accounts and then complete the following trial balance.(If answer is zero please enter 0, do not leave any fields blank.)