ACC 290

posted by .

How would I record the following transactions into a "T" account?


This information relates to Pickert Real Estate Agency.


Oct. 1
Stockholders invest $30,000 in exchange for common stock of the corporation.
2
Hires an administrative assistant at an annual salary of $42,000.
3
Buys office furniture for $4,600, on account.
6
Sells a house and lot for M.E. Petty; commissions due from Petty, $10,800 (not paid by Petty at this time).
10
Receives cash of $140 as commission for acting as rental agent renting an apartment.
27
Pays $700 on account for the office furniture purchased on October 3.
30
Pays the administrative assistant $3,500 in salary for October.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. finance 34

    34. The retained earnings of the firm belong to A. creditors B. preferred stockholders C. common stockholders D. bondholders I chose (C) common stockholders, because the equity section is divided into two accounts 1. common stock and …
  2. accounting

    I need help in preparing the following: 1) record the 2008 transactions in journal form. 2) prepared the stockholders equt7y section of the company balance sheet as of December 31, 2008. Assume net income for the year is $4000, 000 …
  3. accounting

    E11-9 The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Marvel Corporation at December 31, 2007. Common Stock ($5 stated value) $1,500,000 Paid-in Capital in Excess of Par Value—Preferred …
  4. Financial Accounting

    Incentive Corporation was organized in 2009 to operate a financial consulting business. The charter authorized the following capital stock: common stock, par value $4 per share. 12,000 shares. During the first year, the following selected …
  5. Accounting

    At the beginning of April, Owl Corporation has a balance of $12,000 in the Retained Earnings account. During the month of April, Owl had the following external transactions. 1. Issue common stock for cash, $10,000. 2. Provide services …
  6. acc/291

    The following stockholders’ equity accounts arranged alphabetically are in the ledger of McGrath Corporation at December 31, 2011. Common Stock ($10 stated value) $1,500,000 Paid-in Capital from Treasury Stock 6,000 Paid-in Capital …
  7. accounting

    The following stockholders' equity accounts arranged alphabetically are in the ledger of McGrath Corporation at December 31, 2011. Common Stock ($10 stated value) $1,500,000 Paid-in Capital from Treasury Stock 6,000 Paid-in Capital …
  8. Accounting

    These questions are based on the following information and should be viewed as independent situations. Popper Co. acquired 80% of the common stock of Cocker Co. on January 1, 2009, when Cocker had the following stockholders' equity …
  9. Accounting/Finance

    Temte Corporation is authorized to issue 1,000,000 shares of no-par common stock and 250,000 shares of 6 percent, $25 par value, cumulative preferred stock. These events affected stockholders’ equity during the first year of operations: …
  10. accounts

    Ex 11.5 The year-end balance sheet of Jackson Products, INC., includes the following stockholders' equity section (with certain details ommited): Stockholders' equity: Capital stock: 7% cumulative preferred stock, $100 par value----$15,000,000 …

More Similar Questions