Question 8
The Zetar plc's complete annual report, including the notes to
its financial statements, is available in the Investors section at
www.zetarplc.com.
Describe in which statement each of the following items is
reported, and the position in the statement (e.g., current asset).
Question 9
This information relates to Crofoot Real Estate Agency.
Oct. 1
Stockholders invest $30,400 in exchange for common
stock of the corporation.
2
Hires an administrative assistant at an annual salary of
$39,960.
3
Buys office furniture for $3,620, on account.
6
Sells a house and lot for M.E. Graves; commissions due
from Graves, $10,660 (not paid by Graves at this time).
10
Receives cash of $230 as commission for acting as rental
agent renting an apartment.
27
Pays $640 on account for the office furniture purchased
on October 3.
30
Pays the administrative assistant $3,330 in salary for
October.
Post the transactions to T-accounts. (Post entries in the order
of information presented in the question.)