Question: Need help on instructions 1,3,4 and 5 Chapter 2 Analycing Transactions PR 2-4A Journal entries and trial balance Elite Realty acts as an agent in

 Need help on instructions 1,3,4 and 5 Chapter 2 Analycing Transactions Need help on instructions 1,3,4 and 5

Chapter 2 Analycing Transactions PR 2-4A Journal entries and trial balance Elite Realty acts as an agent in buying, selling, renting, and managing real estate. Obj. 1, 2, 3,4 oeal of Debit column 532,525 trial balance on March 31, 2018, follows: Unadjusted Trial 61,500 3,000 1,800 Prepaid insurance Office Supplies 16 14,000 Accounts Payable Unearned Rent Notes Payable Common Stock Retained Earnings 23 31 10.000 2000 240,000 Fees Earned 148.200 51 52 53 Salary and Commission Expense.. Rent Expense Advertising Expense Automobile Expense. Miscellaneous Expense 17,800 5,500 59 300,000 300,000 The following business transactions were completed by Elite Realty during April 2018: Apr. 1. Paid rent on office for month, $6500 2. Purchased office supplies on account, $2.300, s. Paid insurance premiums, 56,000 10. Received cash from clients on account, $52.300 15. Purchased land for a future building site for $200,000, paying $30,000 in cash and glving a note payable for the remainder 17. Paid creditors on account, $6,450. 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $325 23. Pald advertising expense, $4,300. Enter the following transactions on Page 19 of the two-column journal: 27, computing a commission: received cash from the salesperson for the overpayment, $2.500 28. Paid automobile expense including rental charges for an automobilel, $1,500. 29. Paid miscellaneous expenses, $1,400. 30. Recorded revenue earned and billed to clients during the month, $57,000 30. Paid salaries and commissions for the month,$11,900 Paid dividends, $4,000. Rented land purchased on April 15 to local merchants association for use as a parking lot in May and June, during a street rebuilding programe received advance payment of $10,000 30. 30. Instructions 1. Record the April 1, 2018, balance of each account in the appropriate balance column of a 2. Journalize the transactions for April in a two-column journal beginning on Page 18. Journal 3. Post to the ledger, extending the account balance to the appropriate balance column after 4. Prepare an unadjusted trial balance of the ledger as of April 30, 2018. four-column account, write Balance in the item section, and place a check mark () in the Posting Reference column. entry explanations may be omitted each posting 5. Assume that the April 50 transaction for salaries and (A) Why did the unadjusted trial balance in (4) balance? (B) Journalize the correcting entry (C) Is this error a transposition or slide commissions should have been $19,100

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