Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need to put in T accounts instead of journalizing. P2-1A Holz Disc Golf Course was opened on March 1 by Ian Holz. The following selected

need to put in T accounts instead of journalizing. image text in transcribed
P2-1A Holz Disc Golf Course was opened on March 1 by Ian Holz. The following selected Journalize a events and transactions occurred during March. transaction Mar. 1 Invested $20,000 cash in the business. (LO 1,2) 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.) GLS 5 Paid advertising expenses of $900. 6 Paid cash $600 for a one-year insurance policy. 10 Purchased golf discs and other equipment for $1,050 from Stevenson Company payable in 30 days. 18 Received $1,100n 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. ose

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

Accounting Principles

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

12th edition

1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056

More Books

Students also viewed these Accounting questions

Question

Prove Equation (5.22).

Answered: 1 week ago