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Accounting 290 Week 2 Assignment




Question;This information relates to Pickert Real Estate Agency. Oct. 1Stockholders invested $30,000 in exchange for common stock of the corporation.Oct. 2Hires an administrative assistant at an annual salary of $42,000.Oct. 3Buys office furniture for $4,600, on account.Oct. 6Sells a house and lot for M.E. Petty, commissions due from Petty, $10,800 (not paid by Petty at this time).Oct. 10Receives cash of $140 as commission for acting as rental agent renting an apartment.Oct. 27Pays $700 on account for the office furniture purchased on October 3.Oct. 30Pays the administrative assistant $3,500 in salary for October.Post the transactions to T-accounts and complete the following trial balance.(If answer is zero, please enter 0, do not leave any fields blank.) Question 4This is the trial balance of Slocombe Company on September 30. SLOCOMBE COMPANYTrial BalanceSeptember 30, 2010DebitCreditCash$8,300Accounts Receivable2,600Supplies2,100Equipment8,000Accounts Payable$5,100Unearned Revenue900Common Stock 15,000$21,000$21,000The October transactions were as follows.Oct. 5 Received $1,300 in cash from customers for accounts receivable due.10 Billed customers for services performed $5,100.15 Paid employee salaries $1,400.17 Performed $600 of services for customers who paid in advance in August.20 Paid $1,500 to creditors for accounts payable due.29 Paid a $300 cash dividend.31 Paid utilities $500.Post to ledger accounts and then complete the following trial balance.(If answer is zero please enter 0, do not leave any fields blank.)


Paper#45407 | Written in 18-Jul-2015

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