Question

Directions: Journalize the April transactions

Atlanta Golf course was opened on April 1 By Kenneth Armstrong and associates. The following selected events and transactions occurred during April:

April      1. Stockholders Invested $60,000cash in the business in Exchange for common stock.

3. Purchased Jake Golf land for $38,000 cash. The price consists of land $26,000, shed $8,000, and equipment $4,000. (make one compound entry.)

5. Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,600

6. Paid cash $3,800 for a one-year insurance policy.

10. Purchased golf disk and other equipment for $1,050 from wheeler company payable in 30 days.

18. Received $420 in cash for golf fees.

19. sold 100 coupon books for $18 each. Each book contains 4 coupons that enables the holder to play one round of disc golf

25. Declared and paid an $800 cash dividend

30. Paid salaries of $280

30. Paid Wheeler Company in full

31. Received $200 cash for golf fees

Use the following for account title: Cash, prepaid insurance, Land, Building, Equipment, Account payable, Unearned service Revenue, Common stock, Dividends, Service Revenue, Advertising expense, and salaries and wages Expense.

Date                                      Account titles                     Debit                     Credit

Answer 1