Exercise 2-4
Presented below is information related to Shanghai Real
Estate Agency.
Oct. 1 Pete
Hanshew begins business as a real estate agent with a cash investment of
¥150,000 in exchange for ordinary shares.
2 Hires an
administrative assistant.
3 Purchases
office furniture for ¥19,000 on account.
6 Sells a
house and lot for B. Kidman; bills B. Kidman ¥32,000 for realty services
provided.
27 Pays ¥7,000
on the balance related to the transaction of October 3.
30 Pays the
administrative assistant ¥25,000 in salary for October.
Instructions
Prepare the debit-credit analysis for each transaction as
illustrated on pages 62–67.
E2-5 Transaction data for Hanshew Real Estate Agency are
presented in E2-4.
Instructions
Journalize the transactions. (You may omit explanations.)
No comments:
Post a Comment