Question
i am not sure what my accounting homework is asking? Problem 2-1A Grandview Park was started on April 1 by R. S. Francis and associates.
i am not sure what my accounting homework is asking?
Problem 2-1AGrandview Park was started on April 1 by R. S. Francis and associates. The following selected events and transactions occurred during April.
Apr. 1Stockholders invested $49,700cash in the business in exchange for common stock.4Purchased land costing $29,800for cash.8Incurred advertising expense of $2,000on account.11Paid salaries to employees $1,870.12Hired park manager at a salary of $3,700per month, effective May 1.13Paid $1,270cash for a one-year insurance policy.17Declared and paid a $1,060cash dividend.20Received $6,500in cash for admission fees.25Sold147coupon books for $32each. Each book contains 10 coupons that entitle the holder to one admission to the park.30Received $8,100in cash admission fees.30Paid $540on balance owed for advertising incurred on April 8.
Grandview uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
Journalize the April transactions.(Credit account titles are automatically indented when the amount is entered.Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Ref.
Debit
Credit
Apr. 1
(Issued shares of stock for cash)Apr. 4
(Purchased land for cash)Apr. 8
(Incurred advertising expense on account)Apr. 11
(Paid salaries)Apr. 12
Apr. 13
(Paid for one-year insurance policy)Apr. 17
(Declared and paid cash dividends)Apr. 20
(Received cash for services provided)Apr. 25
(Received cash for future services)Apr. 30
(Received cash for services provided)Apr. 30
(Paid creditor on account)
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