Return to Blackboard ting, Be nts Grace Perfod: 2 days laft I Register FULL SCREEN PRINTER VERSION BACK (b) Prepare an income statement for August, a retained earmings statement for August, and a classified balance sheet at August 31 $2,570 Net income Ret. earnings $3470 P3-4A Bradley's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. 1 Stockholders invested $50,000 cash in the business in exchange for common steck of the corporation Mar 3 Parchased Snead's Golf Land for $38,000 cash. The price consists of land $23,000, building $9,000, and equipment $6,000. (Record this in a single entry) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,200 cash 6 Paid cash $2,400 for a 1-year insurance policy. 10 Purchased golf chubs and other equipment for $5,500 from Tahoe Company, payable in 30 days 18 Received golf fees of $1,600 in cash from custemers for golf services performed 19 Sold 100 copon books for $25 each in cash Each book contains 10 coupons that enable the holder to play one round of miniature golf or to hit one backet of golf balls. (Hint The revenue should not be recognized until the customsers use the coupons.) 25 Paid a $500 cash dividend. 30 Paid salaries of $800 30 Paid Tahoe Company in full for equipment purchased on March 10 31 Received $900 in cash from customers for golf services performed. The company uses these accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Uneamed Service Revenue, Common Stock, Retained Eamings, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense Instructions Journalize the March transactions, including explanations. Bradley's records golf fees as service revenue. P3-SA Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business, these events and transactions occurred s, post, ance. Stockholders invested $18,000 cash in exchange for common stock of the corporation Apr 1 1 Hired a secretary-receptionist at a salary of $375 per week, payable monthly 2 Paid office rent for the month $900. 3 Purchased architectural supplies on account fromm Burmingham Company icht Beaeed, AD of aohn Wi A S $1,300 Page 9 CHAPTER 3 PROBLEM 3-4A Journalze a Series of Transactions Note: you may omit explanations for journal entries GENERAL JOURNAL Date Account Titles Credit Debit Mar. 1 Continued on following page CHAPTER 3 pe to PAOLEM 3-4A Coned GENERAL JOURNAL Credit Acnt Titles Date bebit Check figure: Total debits $108,900