following are butler Realty corporation\'s accounts, identified by number. the c

Question

following are butler Realty corporation's accounts, identified by number. the company had been in the real estate business for ten years and prepares financial statements monthly. following the list of accounts is a series of transactions entered into by butler. for each transaction, each transaction, enter the number(s) of the account(s) to be debited and credited

Accounts
1. cash
2.accounts receivable
3. prepaid rent
4. office supplies
5. automobiles
6. accumulated depreciation
7. land
8. accounts payable
9. salaries and wages payable
10. income tax payable
11. notes payable
12. capital stock, $10 par
13. paid-in capital in excess of par
14. commissions revenue
15. office supply expense
16. rent expense
17. salaries and wages expense
18. depreciation expense
19. interest expense
20. income tax expense

transaction Debit credit
b. purchased automobiles for cash

c. purchased land; made cash down payment and
signed a promissory note for the balance

d. paid cash to landlord for rent for next 12 months

e. purchased office supplies on account

f. collected cash for commissions from clients for
properties sold during the mont

g. collected cash for commissions from clients for
properties sold the prior month

h. during the month, sold properties for which cash cash for
commissions will be collected from clients next month

i. paid for office supplies purchase on account in an earlier
month

j. recorded an adjustment to recognize wages and
salaries incurred but not yet paid

k. recorded an adjustment for office supplies used
during the month

l. recorded and adjusting entry for the portion of prepaid
rent that expired during the month

m. made required month- end payment on note take out in (c);
payment is part is part principal and part interest

n. recorded adjusting entry for monthly depreciation on the autos

o. recorded adjusting entry for income taxes

rent that expired

Explanation / Answer

b. 5,1 c. 7,1,11 d.3,1 e. 4,8 f. 1, 14 g. 1,2 h.2,14 i. 8,1 j.17,9 k. 15, 4 l. 16,3 m. 11,19,1 n. 18, 6 0.20,10

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