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Presented below is information related to Pharoah Company. Oct. 1 2 3 Diane Lexington begins business...


Presented below is information related to Pharoah Company. Oct. 1 2 3 Diane Lexington begins business as a real estate agent
Debit-Credit Analysis Oct. 1 Debits Debit Credits V: Credit Oct. 2 Debits V: Debit Credits V: Credit Oct. 3 Debits 3 Debit Cr
Debit-Credit Analysis v : Debit : Credit $ Debit : Credit : Debit $ V . Credit $ : Debit $ Credit V: Debit $ $ V: Credit V: D
Presented below is information related to Pharoah Company. Oct. 1 2 3 Diane Lexington begins business as a real estate agent with a cash investment of $20,700 in exchange for common stock. Hires an administrative assistant. Purchases office furniture for $1,800, on account. Sells a house and lot for N. Fennig: bills N. Fennig $3,900 for realty services performed. Pays $1.500 on the balance related to the transaction of October 3. Pays the administrative assistant $2,850 in salary for October 6 27 30 Prepare the debit-credit analysis for each transaction.(If no entry is required, select "No Entry" for the account titles and enter for the amounts.)
Debit-Credit Analysis Oct. 1 Debits Debit Credits V: Credit Oct. 2 Debits V: Debit Credits V: Credit Oct. 3 Debits 3 Debit Credits Credit Oct. 6 Debits Debit Credits Credit Oct. 27 Debits Debit Credits : Credit I Oct. 30 Debits Debit Credits Credit
Debit-Credit Analysis v : Debit : Credit $ Debit : Credit : Debit $ V . Credit $ : Debit $ Credit V: Debit $ $ V: Credit V: Debit $ : Credit $
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ReportAnswer #1

Answer-:

In debit credit analysis, when assets or expenses increased it is debited and if liabilities, revenues or stockholder's equity is increased it is credited and vice versa.

Debit- Credit Analysis for these transactions are as follows-:

Oct. 1 Debits increase assets: Credits increase stockholders equity: Debit Cash. Credit Common Stock N No transaction. 3 Deb

Note-:

Transaction dated october 2, there is no any monetory transaction takes place. that's why there is no any entry required.

Thankyou...............

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