Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3 Marigold's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March Mar.

image text in transcribed
image text in transcribed
image text in transcribed
3 Marigold's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March Mar. 1 Stockholders invested $55.000 cash in the business in exchange for common stock of the corporation Purchased Sead's Golf Land for $40,400 cash. The price consists of land $22,400, building $9,170, and equipment $8,830. Record this in a single entry) 5 De advertised the opening of the driving range and miniature golf course, paying advertising expenses or $1.210 cash. Paid cash $4,050 for a 1 year insurance policy 10 Purchased golf clubs and other equipment for $4,700 from Tahoe Company, payable in 30 days Received golf fees of $1.750 in cash from customers for golf services performed 19 Sold 115 coupon books for $30 each in cash. Each book contains 10 coupons that enable the holder to play one round of miniature golf or to hit one bucket of golf balls. (Hint: The revenue should not be recognized until the customers use the coupons 25 Palda 5680 cash dividend Paid salaries of $780 Pald Tahoe Company in full for equipment purchased on March 10, Received 5960 in cash from customers for golf services performed. 18 30 30 31 Journize the March transactions. Marigold's records golf fees as service revente ( no entry is required, select "No Entry* for the account titles and enter for the amount Credit account titles are automatically indented when amount is entered. Do not indent manually Record journal entries in the order presented in the problem.) Date Actes Explanation Debit (Pod sales en (Pad creditor on

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

MBA Accounting

Authors: Roger Hussey

1st Edition

0230303374, 9780230303379

More Books

Students also viewed these Accounting questions

Question

What is U.S. GAAP? What is IFRS?

Answered: 1 week ago

Question

LO6 Define harassment and the role that HR plays in addressing it.

Answered: 1 week ago