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Instructions On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month Oct 1 2 3 4 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $29,700 Paid rent on office and equipment for the month, $2,250 Purchased supplies on account, $2,300 Paid creditor on account, $840. Earned sales commissions, receiving cash, $14,500 Paid automobile expenses (including rental charge) for month $1,630, and miscellaneous expenses, $590 Paid office salaries, $2,000 Determined that the cost of supplies used was $1,350 5 6 7 8 8 Determined that the cost of supplies used was $1,350 Paid dividends, $2,300 9 1. Joumalize entries for transactions Oct. 1 through 9 Refer to the Chart of Accounts for exact wording of account titles 2. Post the journal entries to the accounts, selecting the appropriate date to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete Accounts containing only a single entry do not need a balance 3. Prepare an unachusted trial balance as of October 31, 2076 4. Determine the following a: Amount of total revenue recorded in the ledger b. Amount of total expenses recorded in the ledger c. Amount of net income for October 5. Determine the increase or decrease in retained eamings for October 1. Journalize entries for transactions Oct 1 through 9. Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL ACCOUNTING EQUATION DENT CRECHT POST. REF ASSETS LATIES DATE EQUITY DESCRIPTION 1 3 1 Prev 2 Post the journal entries to the accounts selecting the appropriate date to the left of each amount to idently the transactions Determine the account balances, after all Routing is complete Accounts containing only a single entry do not need a balance Cash > Bal Supplies Bal Accounts Payable Accounts Payable Bal. Common Stock Dividends Sales Commissions Rent Expense Office Salaries Expense Automobile Expense Office Salaries Expense Automobile Expense Supplies Expense Miscellaneous Expense 3. Prepare an unadjusted trial balance as of October 31, 2046 Affordable Realty UNADJUSTED TRIAL BALANCE October 31, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Supplies 3 Accounts Payable 4 Common Stock 5 Dividends 6 Sales Commissions 7 Rent Expense 8 Office Salaries Expense 9 Automobile Expense 10 Supplies Expense 11 Miscellaneous Expense 12 Totals Final Questions 4. Determine the following: a. Amount of total revenue recorded in the ledger. $ b. Amount of total expenses recorded in the ledger. $ c. Amount of net income for October $ 5. Determine the increase or decrease in retained eamings for October $