Question
Windsor, Inc. was opened on August 1 by Joe Windsor. The following selected events and transactions occurred during August. August 1. invested $51,000 cash in
Windsor, Inc. was opened on August 1 by Joe Windsor. The following selected events and transactions occurred during August.
August 1. invested $51,000 cash in the business in exchange for common stock.
3. Purchased O'Brian's Tree Service for $45,200 cash. The price consist of land $27,000, building $15,000, and equipment $3200. ( Make one. compound entry).
5. Advertised the opening of the business, paying advertising expense $1200.
6 Paid cash $1480 for a one year insurance policy. 10 Purchased equipment for $2300 from Wildhorse company, payable in 30 days. 18 Received fees for services of $1800 in cash. 25 Declared and paid a $700 cash dividend. 30 Paid wages of $1300. 30. Paid Wildhorse company in full. 31. Received $500 of fees in cash.
Windsor uses the following accounts: cash, prepaid insurance, land, building, equipment, accounts payable, common stock, dividends, service revenue, advertising expense, and salaries and wages expense.
Journalist the August transaction. ( if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem).
Date. Account. titles and explanation. Debit. Credit Aug 1 (has 2 place for entries)
Aug 3. (has 4 places for entries)
Aug 5. (has 2 places for entries)
Aug 6. (has 2 places for entries)
Aug 10. (2 places)
Aug 18. (2 places)
Aug 25. (2 places)
Aug 30. (2 places)
Aug 30. (2 places)
Aug 31. (2 places)
thank you!!!!
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