Thursday, 25 August 2011

This information relates to Pickert Real Estate Agency. Oct. 1 Stockholders invested $32,496 in exchange for common stock of the corporation. Oct....

This information relates to Pickert Real Estate Agency. Oct. 1 Stockholders invested $32,496 in exchange for common stock of the corporation. Oct....


Q:


This information relates to Pickert Real Estate Agency.

Oct. 1 Stockholders invested $32,496 in exchange for common stock of the corporation.

Oct. 2 Hires an administrative assistant at an annual salary of $48,200.

Oct. 3 Buys office furniture for $5,743, on account.

Oct. 6 Sells a house and lot for M.E. Petty; commissions due from Petty, $10,832 (not paid by Petty at this time).

Oct. 10 Receives cash of $177 as commission for acting as rental agent renting an apartment.

Oct. 27 Pays $719 on account for the office furniture purchased on October 3.

Oct. 30 Pays the administrative assistant $4,287 in salary for October.

Prepare the debit-credit analysis for each transaction.


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