Chapter 2 of the text, Financial
Accounting 5th ed: Exercise 2-3
E2-3 Presented below is
information related to Robbins Real Estate Agency, Inc.
Oct. 1 Lynn Robbins begins business as a real estate
agent with a cash investment of $20,000 in exchange for common stock.
an administrative assistant.
3 Purchases office furniture for $1,900, on
Sells a house and lot for B.
Kidman; bills B. Kidman $3,200 for realty services provided.
27 Pays $700 on the balance related to the
transaction of October 3.
30 Pays the administrative assistant $2,000 in
salary for October.
Prepare the debit-credit analysis
for each transaction as illustrated on pages 62–66.