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Bridgeport's Miniature Goiramut Gitiving Range inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar.1 Stockholders imvested
Bridgeport's Miniature Goiramut Gitiving Range inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar.1 Stockholders imvested $67,000 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead's Golf Land for $39,300 cash. The price consists of land $24,000, building $9,270, and equipment $6,030. (Record this in a single entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $2,990 cash. 6 Paid cash $4,350 for a 1-year insurance policy. 10 Purchased golf clubs and other equipment for \$5,600 from Tahoe Company, payable in 30 days. 18 Received golf fees of $1,100 in cash from customers for golf services performed. 19 Sold 145 coupon books for $25 each in cash. Each book contains 10 coupons that enable the holder to play one round of minlature golf or to hit one bucket of golf balls. (Hint: The revenue should not be recognized until the customers use the coupons.) 25 Paid a $490 cash dividend. 30 Paid salaries of $900. 30. Paid Tahoe Company in full for equipment purchased on March 10. 31 Received $960 in cash from customers for golf services performed. Question 4 of 12
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