Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

eBook Print Item Journalizing Transactions Kauai Adventures rents and sells surfboards, snorkeling, and scuba equipment. During March, Kauai engaged in the following transactions: March 2

eBook

Print Item

Journalizing Transactions

Kauai Adventures rents and sells surfboards, snorkeling, and scuba equipment. During March, Kauai engaged in the following transactions:

March 2 Received $33,800 cash from customers for rental.
3 Purchased on credit five new surfboards (which Kauai classifies as inventory) for $170 each.
6 Paid wages to employees in the amount of $9,300.
9 Paid office rent for the month in the amount of $1,800.
12 Purchased a new Ford truck for $17,600; paid $1,000 down in cash and secured a loan from Princeville Bank for the $16,600 balance.
13 Collected a $950 account receivable.
16 Paid an account payable in the amount of $870.
23 Borrowed $15,000 on a six-month, 8 percent note payable.
27 Paid the monthly telephone bill of $145.
30 Paid a monthly advertising bill of $1,260.

Required:

Prepare a journal entry for each of the above transactions. If an amount box does not require an entry, leave it blank.

Mar. 2 fill in the blank 2 fill in the blank 3
fill in the blank 5 fill in the blank 6
3 fill in the blank 8 fill in the blank 9
fill in the blank 11 fill in the blank 12
6 fill in the blank 14 fill in the blank 15
fill in the blank 17 fill in the blank 18
9 fill in the blank 20 fill in the blank 21
fill in the blank 23 fill in the blank 24
12 fill in the blank 26 fill in the blank 27
fill in the blank 29 fill in the blank 30
fill in the blank 32 fill in the blank 33
13 fill in the blank 35 fill in the blank 36
fill in the blank 38 fill in the blank 39
16 fill in the blank 41 fill in the blank 42
fill in the blank 44 fill in the blank 45
23 fill in the blank 47 fill in the blank 48
fill in the blank 50 fill in the blank 51
27 fill in the blank 53 fill in the blank 54
fill in the blank 56 fill in the blank 57
30 fill in the blank 59 fill in the blank 60
fill in the blank 62

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

Step: 3

blur-text-image

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

Core Concepts Of Information Technology Auditing

Authors: James E Hunton, Stephanie M Bryant, Nancy A Bagranoff

1st Edition

ISBN: 0471222933, 9780471222934

More Books

Students also viewed these Accounting questions