This information relates to Pickert Real Estate Agency.
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Oct. 1 |
Stockholders invested $30,000 in exchange for common stock of the corporation. |
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Oct. 2 |
Hires an administrative assistant at an annual salary of $42,000. |
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Oct. 3 |
Buys office furniture for $4,600, on account. |
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Oct. 6 |
Sells a house and lot for M.E. Petty; commissions due from Petty, $10,800 (not paid by Petty at this time). |
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Oct. 10 |
Receives cash of $140 as commission for acting as rental agent renting an apartment. |
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Oct. 27 |
Pays $700 on account for the office furniture purchased on October 3. |
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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.)
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Question 4 |
This is the trial balance of Slocombe Company on September 30.
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SLOCOMBE COMPANY |
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Trial Balance |
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September 30, 2010 |
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Debit |
Credit |
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Cash |
$8,300 |
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Accounts Receivable |
2,600 |
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Supplies |
2,100 |
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Equipment |
8,000 |
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Accounts Payable |
$5,100 |
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Unearned Revenue |
900 |
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Common Stock |
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15,000 |
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$21,000 |
$21,000 |
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The October transactions were as follows.
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Oct. 5 |
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Received $1,300 in cash from customers for accounts receivable due. |
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10 |
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Billed customers for services performed $5,100. |
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15 |
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Paid employee salaries $1,400. |
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17 |
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Performed $600 of services for customers who paid in advance in August. |
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20 |
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Paid $1,500 to creditors for accounts payable due. |
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29 |
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Paid a $300 cash dividend. |
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31 |
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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.)