Solution: Journal Entries
(Amounts in $)
Date |
Particulars |
Debit |
Credit |
March 01 |
Cash A/c Dr. To Owner’s Capital A/c (Being capital invested in the business) |
20,000 |
20,000 |
March 03 |
Land A/c Dr. Building A/c Dr. Equipment A/c Dr. To Cash A/c (Being land, shed and equipment purchased) |
12,000 2,000 1,000 |
15,000 |
March 05 |
Advertising Expenses A/c Dr. To Cash A/c (Being advertising expenses paid) |
900 |
900 |
March 06 |
Prepaid Insurance A/c Dr. To Cash A/c (Being payment for 1-year insurance policy made) |
600 |
600 |
March 10 |
Equipment A/c Dr. To Accounts Payable (Stevenson) A/c (Being equipment purchased on 30 days of credit) |
1,050 |
1,050 |
March 18 |
Cash A/c Dr. To Service Revenue A/c (Being golf fees has been received) |
1,100 |
1,100 |
March 19 |
Cash A/c Dr. To Unearned Service Revenue A/c (Being 150 coupon book sold for $10 each) |
1,500 |
1,500 |
March 25 |
Cash A/c Dr. To Owner’s Drawings A/c (Being cash withdrawn for personal use) |
800 |
800 |
March 30 |
Salaries and Wages Expenses A/c Dr. To Cash A/c (Being salaries paid) |
250 |
250 |
March 30 |
Accounts Payable (Stevenson) A/c Dr. To Cash A/c (Being Stevenson co. paid full) |
1,050 |
1,050 |
March 31 |
Cash A/c Dr. To Service Revenue A/c (Being golf fees received) |
2,700 |
2,700 |
PROBLEMS: SET A Journalise a series of Transactions. (LO 1,2) GLS P2-1A Holz Disc Golf Course...
Holz Disc Golf Course was opened on March 1 by Mountain Holz. The following selected events and transactions occurred during March.Mar. 1 Invested $ 20,000 cash in the business.3 Purchased Rainbow Golf Land for $ 13,000 cash. The price consists of land $ 10,200, shed $ 1,800, and equipment $ 1.000. (Make one compound entry.)5 Paid advertising expenses of $ 600.6 Paid cash $ 640 for a one-year insurance policy.10 Purchased golf discs and other equipment for $ 1,000 from...
Problem 2-01A Holz Disc Golf Course was opened on March 1 by Brothers Holz. The following selected events and transactions occurred during March Mar. 1 Invested $20,000 cash in the business. 3 Purchased Rainbow Golf Land for $14,000 cash. The price consists of land $10,800, shed $1,800, and equipment $1,400. (Make one compound entry.) 5 Paid advertising expenses of $700. 6 Pald cash $530 for a one-year insurance policy. 10 Purchased golf discs and other equipment for $1,200 from Stevenson...
CALCULATOR PRINTER VERSION BACK NEXT Problem 2-01A Holz Disc Golf Course was opened on March 1 by Mountain Holz. The following selected events and transactions occurred during March. Mar. 1 Invested $20,000 cash in the business 3 Purchased Rainbow Golf Land for $13,000 cash. The price consists of land $10,200, shed $1,800, and equipment $1,000. (Make one compound entry.) 5 Paid advertising expenses of $600. 6 Pald cash $640 for a one-year insurance policy. 10 Purchased golf discs and other...
5 Problem 2-01A Holz Disc Golf Course was opened on March 1 by Ian Holz. The following selected 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) Pald advertising expenses of $900. Pald cash $600 for a one-year Insurance policy Purchased golf discs and other equipment for $1,050 from Stevenson Company payable...
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Holz Disc Golf Course was opened on March 1 by Colada Holz. The following selected events and transact March. Mar. 1 3 5 6 10 18 19 Invested $20,000 cash in the business. Purchased Rainbow Golf Land for $14,000 cash. The price consists of land $10,500, shed $2,100, and equipment $1,400. (Make one compound entry) Paid advertising expenses of $700. Paid cash $590 for a one-year insurance policy. Purchased golf discs and other equipment for $1.200 from Stevenson Company payable...
Joumalize a series of transactions (LO 2, 4) P2-1B Surepar Disc Golf Course was opened on March 1 by Bill Amsdorf. The following selected events and transactions occurred during March: Mar. 1 Invested €60,000 cash in the business in exchange for ordinary shares. 3 Purchased Lee's Golf Land for €38,000 cash. The price consists of land €23,000, shed €9,000, and equipment €6,000. (Make one compound entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising...
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