Question

Exercise 3-13 This information relates to McCall Real Estate Agency. Oct. 1 Stockholders invest $29,800 in exchange for common stock of the corporation. 3 6 10 27 30 2 Hires an administrative assistant at an annual salary of $30,840 Buys office furniture for $3,680, on account. Sells a house and lot for E. C. Roads; commissions due from Roads, $10,070 (not paid by Roads at this time). Receives cash of $200 as commission for acting as rental agent renting an apartment. Pays $780 on account for the office furniture purchased on October 3. Pays the administrative assistant $2,570 in salary for October. Post the transactions to T-accounts. (Post entries in the order of information presented in the question.) Cash Accounts Receivable Equipment Accounts Payable Common Stock Service Revenue Salaries and Wages Expense

Answer 1

	Cash
1-Oct	29,800	27-Oct	780
10-Oct	200	30-Oct	2,570
Bal	26,650
	Account receivable
6-Oct	10,070
Bal	10,070
	Equipment
3-Oct	3,680
Bal	3,680
	Accounts payable
27-Oct	780	3-Oct	3,680
		Bal	2,900
	Common stock
		1-Oct	29,800
		Bal	29,800
	Service revenue
		6-Oct	10,070
		10-Oct	200
		Bal	10,270
	Salaries and wage expense
30-Oct	2,570
Bal	2,570

Answer 2

McCall   Real Estate Agency
Trial Balance
October 21, 2022	Dr	Cr
Cash	26160
Accounts Receivable	10010
Equipment	3620
Accounts Payable		2950
Common Stock		29200
Service Revenue		10150
Salaries and Wages Expense	2510
	42300	42300