Surepar Disc Golf Course was opened on March 1 by Bill Arnsdorf. The following transactions. selected events
Question:
Surepar Disc Golf Course was opened on March 1 by Bill Arnsdorf. The following transactions. selected events and transactions occurred during March:
(LO 2, 4) Mar. 1 Invested $60,000 cash in the business in exchange for common stock.
3 Purchased Lee’s Golf Land for $38,000 cash. The price consists of land $23,000, shed $9,000, and equipment $6,000. (Make one compound entry.)
5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,600.
6 Paid cash $2,400 for a one-year insurance policy.
10 Purchased golf discs and other equipment for $1,050 from Parton Company payable in 30 days.
18 Received $340 in cash for golf fees earned.
19 Sold 100 coupon books for $18 each. Each book contains 4 coupons that enable the holder to play one round of disc golf.
25 Declared and paid an $800 cash dividend.
30 Paid salaries of $250.
30 Paid Parton Company in full.
31 Received $200 cash for fees earned.
Bill Arnsdorf uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
Instructions Journalize the March transactions.
Journalize transactions, post, |
Step by Step Answer:
Financial Accounting
ISBN: 9780470929384
8th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, J. Mather