This information relates to Pickert Real Estate Agency. Oct. 1 Stockholders invested $31,367 in exchange for common stock of the corporation. Oct.........

This information relates to Pickert Real Estate Agency. Oct. 1 Stockholders invested $31,367 in exchange for common stock of the corporation. Oct.........
Q:


This information relates to Pickert Real Estate Agency.

Oct. 1 Stockholders invested $31,367 in exchange for common stock of the corporation.

Oct. 2 Hires an administrative assistant at an annual salary of $42,000.

Oct. 3 Buys office furniture for $6,767, on account.

Oct. 6 Sells a house and lot for M.E. Petty; commissions due from Petty, $12,967 (not paid by Petty at this time).

Oct. 10 Receives cash of $1,507 as commission for acting as rental agent renting an apartment.

Oct. 27 Pays $2,867 on account for the office furniture purchased on October 3.

Oct. 30 Pays the administrative assistant $4,867 in salary for October.

Post the transactions to T-accounts and complete the following trial balance.

PICKERT REAL ESTATE AGENCY

Trial Balance

October 31, 2010

Debit Credit

Cash

Accounts receivable

Office furniture

Accounts payable

Common stock

Service revenue

Salaries expense


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