Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need t account for this question P2-1A Holz Disc Golf Course was opened on March 1 by lan Holz. The following selecte events and

I need t account for this question

image text in transcribed
P2-1A Holz Disc Golf Course was opened on March 1 by lan Holz. The following selecte events and transactions occurred during March. Mar. 1 Invested $20,000 cash in the business. 3 Purchased Rainbow Golf Land for $15,000 cash. The price consists of land $12,000, shed $2,000, and equipment $1.000. (Make one compound entry.) 5 Paid advertising expenses of $900. 6 Paid cash $600 for a one-year insurance policy. 10 Purchased golf dises and other equipment for $1,050 from Stevenson Company payable in 30 days. 18 Received $1,100 in cash for golf fees ( Holz records golf fees as service revenue) 19 Sold 150 coupon books for $10 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. 25 Withdrew $800 cash for personal use. 30 Paid salaries of $250. 30 Paid Stevenson Company in full. 31 Received $2,700 cash for golf fees. Holz Disc Golf uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Instructions Journalize the March transactions

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

Accounting Best Practices

Authors: Steven M Bragg

7th Edition

1118404149, 9781118404140

More Books

Students also viewed these Accounting questions

Question

3. Avoid making mistakes when reaching our goals

Answered: 1 week ago