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View Full Version : How to complete the trial balance?


rahulmadnani
Oct 18, 2010, 10:37 AM
This information relates to Matthews Real Estate Agency Corporation.

Oct. 1 Stockholders invested $25,000 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 $3,600, on account.
Oct. 6 Sells a house and lot for M.E. Mills; commissions due from Mills, $10,800 (not paid by Mills at this time).
Oct. 10 Receives cash of $140 as commission for acting as rental agent renting an apartment.
Oct. 27 Pays $700 on account for the office furniture purchased on October 3.
Oct. 30 Pays the administrative assistant $3,500 in salary for October.
Post the transactions to T-accounts and complete the following trial balance.

pready
Oct 18, 2010, 11:34 AM
This is a duplicate post. Stop posting the same thing.

You need to journalize your transactions and prepare a trial balance.