Accounting 290 week two individual Wiley Assigment

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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.)

PICKERT REAL ESTATE AGENCY

Trial Balance

October 31, 2010

 

Debit

Credit

Cash

$http://edugen.wiley.com/edugen/art2/common/pixel.gif

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Post to ledger accounts and then complete the following trial balance. (If answer is zero please enter 0, do not leave any fields blank.)

SLOCOMBE COMPANY

Trial Balance

October 31, 2010

 

Debit

Credit

Cash

$http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

$http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

Accounts receivable

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Supplies

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Equipment

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Accounts payable

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Unearned Revenue

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Common stock

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Dividends

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Service Revenue

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Salaries Expense

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Utilities Expense

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