Instructions

On October $1,20$Y$6,$ Jay Crawley established Affordable Realty, which completed the following transactions during the month:

Oct. $1$ Jay Crawley transferred cash from a persorial bank account to an account to be used for the business in exchange for common stock, $\backslash (\backslash$$ $31,500\backslash ).$

$2$ Paid rent on office and equipment for the month, $\backslash (\backslash$$ $2,650\backslash ).$

$3$ Purchased supplies on account, $\backslash (\backslash$$ $2,200\backslash ).$

$4$ Paid creditor on account, $\backslash$$$930.$

$5$ Earned sales commissions, receiving cash, $\backslash$$$14,580.$

$6$ Paid autormobile expenses $($induding rental charge$)$ for month, $\backslash$$$1,630,$ and miscellaneous expenses, $\backslash$$$460.$

$7$ Paid office salaries, $\backslash (\backslash$$ $2,400\backslash ).$

$8$ Determined that the cost of supplies used was $\backslash$$$1,150.$

$9$ Paid dividends, $\backslash (\backslash$$ $3,200\backslash ).$

$1.$ Joumalize entrles for transactions oct $1$ through $9.$

$2.$ Post the jouma$/$ entries to the $\backslash ($ T $\backslash )$ accounts, selecting the appropriate date to the ieft of each amount to identify the transactions. Determine the account balinces, atter ail posting is complete. Accounts containing onily a single entry do not need a baiance.

$3.$ Prepare an unadusted trial balance as of October $31,20$ Yo$.$

$4.$ Determine the following:

a$.$ Amount of total revenue recorded in the legger$-$

D$.$ 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.

Chart of Accounts

General Journal

$1.$ Journalize entries for transactions Oct. $1$ through $9.$

General Joumal Instructions

PAGE $1$ TAccounts

TAccounts instructions

$\backslash$begin$\{$tabular$\}\{|$l$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$c$|\}\{$ Common stock $\}\backslash \backslash$

$\backslash$hline & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$ TAccounts

Macellaneous Expense Unadjusted Trial Balance

$3.$ Prepare an unadusted trial baliance as of Octocer $31,20$ Yo$.$

Final Questions

$4.$ Determine the following:

a$.$ Amount of tatal revernue recorded in the ledger$-$

b$.$ Amount of total expanses recorded in the ledger.$[$

c$.$ Amount of net income far October

$5.$ Determine the increase or decrease in retained earnings for October.