Question: This information relates to Crofoot Real Estate Agency Oct 1

This information relates to Crofoot Real Estate Agency.
Oct 1 Stockholders invest $30,000 in exchange for common stock of the corporation.
2. Hires an administrative assistant at an annual salary of $36,000.
3. Buys offce furniture for $3,800, on account.
6. Sells a house and lot for M.E. Graves; commissions due from Graves, $10,800 (not paid by Graves at this time).
10. Receives cash of $140 as commission for acting as rental agent renting an apartment.
27. Pays $700 on account for the offce furniture purchased on October 3.
30. Pays the administrative assistant $3,000 in salary for October.

Prepare the debit–credit analysis or each transaction, as illustrated on pages 121–126.

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  • CreatedApril 07, 2014
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