wiley plus accounting 220 week 3

This information relates to Plunkett Real Estate Agency.

Oct. 1		Stockholders invest $29,380 in exchange for common stock of the corporation.
2		Hires an administrative assistant at an annual salary of $36,720.
3		Buys office furniture for $4,180, on account.
6		Sells a house and lot for M.E. Petty; commissions due from Petty, $12,180 (not paid by Petty at this time).
10		Receives cash of $170 as commission for acting as rental agent renting an apartment.
27		Pays $770 on account for the office furniture purchased on October 3.
30		Pays the administrative assistant $3,060 in salary for October.

Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

The May transactions of StepAside Corporation were as follows.

May 4		Paid $700 due for supplies previously purchased on account.
7		Performed advisory services on account for $7,350.
8		Purchased supplies for $810 on account.
9		Purchased equipment for $2,540 in cash.
17		Paid employees $780 in cash.
22		Received bill for equipment repairs of $940.
29		Paid $1,230 for 12 months of insurance policy. Coverage begins June 1.

Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

This information relates to Plunkett Real Estate Agency.

Oct. 1		Stockholders invest $32,670 in exchange for common stock of the corporation.
2		Hires an administrative assistant at an annual salary of $41,400.
3		Buys office furniture for $4,060, on account.
6		Sells a house and lot for M.E. Petty; commissions due from Petty, $12,210 (not paid by Petty at this time).
10		Receives cash of $240 as commission for acting as rental agent renting an apartment.
27		Pays $600 on account for the office furniture purchased on October 3.
30		Pays the administrative assistant $3,450 in salary for October.

(a)

Post the transactions to T accounts. (Post entries in the order of information presented in the question.)

Prepare a trial balance at October 31, 2012.

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