FREE Trial

Transaction data for Royale Real Estate Agency are presented in E2.4. Instructions Journalize the transactions. E2.4 Oct. 1 James Royale

Question:

Transaction data for Royale Real Estate Agency are presented in E2.4.


Instructions
Journalize the transactions.


E2.4

Oct. 1 James Royale begins business as a real estate agent with a cash investment of $17,000.
2 Hires an administrative assistant.
3 Purchases office furniture for $1,900, on account.
6 Sells a house and lot for C. Rouse; bills C. Rouse $3,800 for realty services performed.
27 Pays $1,300 on the balance related to the transaction of October 3.
30 Pays the administrative assistant $2,500 in salary for October.

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 85% (7 reviews)

General Journal Date Account Titles and Explanation Ref Deb…View the full answer


answer-question
Answered By
tutor-profile-image
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+ 1+ Reviews 10+ Question Solved
Related Book For  answer-question
Accounting Principles

Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

See More Books
Question Details
Chapter # 2- The Recording Process
Section: Exercises
Problem: 5
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: January 12, 2019 04:33:27
See More Questions

Students also viewed these Business questions

Q:
Transaction data for Hanshew Real Estate Agency are presented in E2-4. Instructions Journalize the transactions. (You may omit explanations.)
A:
General Journal Date Account Titles and Explanation Ref De......
Q:
Transaction data for Plunkett Real Estate Agency are presented in E3-7. Instructions Journalize the transactions. Do not provide explanations.
A:
Date Account Titles Debit Credit Oct 1 Cash Common Stock......
Q:
Transaction data for Aromashodu Real Estate Agency are presented in E2-4. Instructions Journalize the transactions. (You may omit explanations.)
A:
General Journal Date Account Titles and Explanation Ref Deb......
Q:
Consider the hydrogen atom, and assume that the proton, instead of being a point- source of the Coulomb field, is uniformly charged sphere of radius R ( < < ao), so that the Coulomb potential is now...
A:
The detailed......
Q:
1. The following information pertains to Walnut Corners: 2016 governmental fund revenues that became measurable and available in time to be used for payment of 2016 liabilities...
A:
1 c 17 000 0......
Q:
A system is represented by a block diagram as shown in Figure E3.5. Write the state equations in the form of Equations (3.16) and (3.17). FIGURE E3.5 Block diagram.
A:
From the block diagram we......
Q:
One of your contractors has sent you an email requesting that they be allowed to conduct only eight tests rather than the 10 tests required by the specification. What should the project manager do...
A:
B Ask the......
Q:
Because of irreconcilable differences of opinion, a dissenting group within the management and board of directors of the Algo Company resigned and formed the Bevo Corporation to purchase a...
A:
a The cost of property plant and equipment includes all expenditures to acquire the property plant and equipment and to put it into position and condition for use Among the expenditures which might be......
Q:
Intuitively, we can think of an option's value as C=E[Cr]e i.e., the option's expected payoff E[C] discounted back by the option's required rate of return (rc). To implement this equation, we need to...
A:
Sure here are the answers to your questions 1 Compute the expected three month continuously compounded return To do this we multiply each of the returns i e ln S by their corresponding probabilities a......
Q:
1. What are pros and cons of Apples tight control of licensing? 2. What role has ecosystem played in Apples competitive advantage?
A:
1 Tight control gives Apple the ability to manage quality and consistency of feel throughout the App......
Q:
The following information relates to Royale Real Estate Agency. Oct. 1 James Royale begins business as a real estate agent with a cash investment of $17,000. 2 Hires an administrative assistant. 3...
A:
Oct 1 Debits increase assets debit Cash 17 000 Credits......
Q:
Lennon Industries had the following transactions. 1. Borrowed $5,000 from the bank by signing a note. 2. Paid $3,900 cash for a computer. 3. Purchased $650 of supplies on account. Instructions a....
A:
a 1 Increase the asset Cash increase the liability Notes......
Q:
What was the change in Globals book value of equity from 2018 to 2019 according to Table 2.1? Does this imply that the market price of Globals shares increased in 2019? Explain. Assets Current Assets...
A:
Global Conglomerates book value of equity increased......
Q:
Project artifacts complement project methodologies and frameworks used to manage projects. Artifacts are important for documenting and archiving project information. According to the Project...
A:
Creating a formal report with title page speaker notes and references isn t possible in this text based format However I can provide you with a detailed explanation of the nine types of project artifa......
Q:
Considering artificial intelligence (AI) applications in HR and machine learning, address the pros and cons of using AI in recruiting, L&D, and D&I. Provide at least two pros and two cons for each HR...
A:
Recruiting Pros 1 Efficiency AI streamlines the recruitment process by automating candidate screening matching and initial communication This increase......
Q:
Analyze the Tesla Inc. company you examined its mission and culture. Ethical & Social Responsible Behavior: State the company ( (Tesla Inc.)you selected in week one and describe using paragraph form...
A:
Tesla Inc Ethical Behavior 1 Innovation and Transparency Tesla Inc has demonstrated ethical behavior through its commitment to innovation and transparency in the electric vehicle EV industry The compa......
Q:
How would you decide a case brought against the State of Connecticut for passing a law that bans all alcohol sales as a measure to fight drunk driving? Would such a law be constitutional? Why? Why...
A:
I m not a legal authority but I can provide a general analysis of the constitutional considerations surrounding a hypothetical law that bans all alcoh......
Q:
Denise, a driver for Waitr, leaves the car's motor running in neutral and carelessly forgets to set the parking brake while she makes a delivery. The car rolls down the driveway and crashes into a...
A:
a Frank can potentially prove the tort of negligence to recover damages from Denise b The elements of negligence are as follows 1 Duty of Care Denise......
Q:
Nitric acid is composed of HNO3 molecules. A sample weighing 4.50 g contains 4.30 1022 HNO3 molecules. How many nitrogen atoms are in this sample? How many oxygen atoms are in 2.81 g of nitric acid?
A:
N atom 1 molecule of HNO3 contains 1 atom of N so 4 30 1022 molecules of HNO3 wil......
Q:
An interest bearing promissory note for 90 days at 5.6% p.a. has a face value of $120,000. If the note is discounted 20 days after the issue date at a rate of 6.8% p.a., calculate the amount of...
A:
Face value 120000 Discount r......
Income Tax Rules 57th Edition - ISBN: 9389921627 - Free Book