Chesapeake Bay Kayak Rentals | |||
Journal entries | |||
Date | Account | Debit | Credit |
1-Apr | Cash | $ 32,000 | |
Common Stock | $ 32,000 | ||
2-Apr | Rent expense | $ 1,200 | |
Cash | $ 1,200 | ||
2-Apr | Computer Equipment | $ 2,800 | |
Cash | $ 2,800 | ||
2-Apr | No entry | ||
$ - | |||
3-Apr | Kayaks (Equipment) | $ 6,000 | |
Accounts Payable | $ 6,000 | ||
4-Apr | Office Supplies | $ 340 | |
Accounts Payable | $ 340 | ||
7-Apr | Cash | $ 1,300 | |
Rental Revenue | $ 1,300 | ||
15-Apr | Wages expense | $ 1,200 | |
Cash | $ 1,200 | ||
15-Apr | Accounts Receivable | $ 2,400 | |
Rental Revenue | $ 2,400 | ||
16-Apr | Utilities expense | $ 120 | |
Accounts Payable | $ 120 | ||
20-Apr | Advertising expense | $ 300 | |
Cash | $ 300 | ||
22-Apr | Cash | $ 500 | |
Rental Revenue | $ 500 | ||
25-Apr | Telephone expense | $ 160 | |
Cash | $ 160 | ||
28-Apr | Accounts Payable | $ 1,000 | |
Cash | $ 1,000 | ||
28-Apr | Cash | $ 350 | |
Rental Revenue | $ 350 | ||
30-Apr | Cash | $ 2,400 | |
Accounts Receivable | $ 2,400 | ||
30-Apr | Accounts Receivable | $ 2,100 | |
Rental Revenue | $ 2,100 | ||
30-Apr | Wages expense | $ 1,050 | |
Cash | $ 1,050 | ||
May | |||
1-May | Land | $ 250,000 | |
Building | $ 80,000 | ||
Common Stock | $ 40,000 | ||
Paid in Capital in Excess of Par | $ 290,000 | ||
1-May | Prepaid Rent | $ 4,800 | |
Cash | $ 4,800 | ||
2-May | Kayaks (Equipment) | $ 7,700 | |
Notes Payable | $ 7,700 | ||
2-May | Utilities expense | $ 250 | |
Accounts Payable | $ 250 | ||
4-May | Office Supplies | $ 260 | |
Accounts Payable | $ 260 | ||
4-May | Accounts Receivable | $ 1,800 | |
Rental Revenue | $ 1,800 | ||
5-May | Cash | $ 1,900 | |
Rental Revenue | $ 1,900 | ||
7-May | Paddle Boards (Equipment) | $ 3,600 | |
Accounts Payable | $ 3,600 | ||
8-May | Cash | $ 2,100 | |
Accounts Receivable | $ 2,100 | ||
8-May | Cash | $ 3,750 | |
Rental Revenue | $ 3,750 | ||
8-May | Prepaid Insurance | $ 4,800 | |
Cash | $ 4,800 | ||
9-May | Cash | $ 850 | |
Rental Revenue | $ 850 | ||
11-May | Cash | $ 1,500 | |
Unearned Revenue | $ 1,500 | ||
11-May | Accounts Payable | $ 120 | |
Cash | $ 120 | ||
15-May | Wages expense | $ 1,200 | |
Cash | $ 1,200 | ||
16-May | Accounts Payable | $ 5,000 | |
Cash | $ 5,000 | ||
18-May | Accounts Payable | $ 600 | |
Cash | $ 600 | ||
20-May | Advertising expense | $ 300 | |
Cash | $ 300 | ||
21-May | Accounts Receivable | $ 2,700 | |
Rental Revenue | $ 2,700 | ||
22-May | Cash | $ 980 | |
Rental Revenue | $ 980 | ||
26-May | Telephone expense | $ 180 | |
Cash | $ 180 | ||
28-May | Accounts Payable | $ 3,600 | |
Cash | $ 3,600 | ||
28-May | Cash | $ 6,800 | |
Rental Revenue | $ 6,800 | ||
29-May | Notes Payable | $ 1,100 | |
Cash | $ 1,100 | ||
31-May | Wages expense | $ 1,380 | |
Cash | $ 1,380 |
Chesapeake Bay Kayak Rentals | Unadjusted TB | |
Account Names | Debit | Credit |
Cash | 23,640 | |
Accounts Receivable | 4,500 | |
Prepaid Insurance | 4,800 | |
Prepaid Rent | 4,800 | |
Office Supplies | 600 | |
Land | 250,000 | |
Building | 80,000 | |
Accumulated Depreciation-Building | - | |
Computer Equipment | 2,800 | |
Accumulated Depreciation-Computer Equip | - | |
Kayaks (Equipment) | 13,700 | |
Accumulated Depreciation-Kayaks | - | |
Paddle Boards (Equipment) | 3,600 | |
Accumulated Depreciation-Paddle Boards | - | |
Accounts Payable | 250 | |
Wages Payable | - | |
Notes Payable | 6,600 | |
Unearned Revenue | 1,500 | |
Common Stock | 72,000 | |
Paid in Capital in Excess of Par | 290,000 | |
Retained Earnings | - | |
Rental Revenue | 25,430 | |
Advertising expense | 600 | |
Depreciation expense | - | |
Insurance expense | - | |
Rent expense | 1,200 | |
Supplies expense | - | |
Utilities expense | 370 | |
Telephone expense | 340 | |
Wages expense | 4,830 | |
Totals | 395,780 | 395,780 |
ACCT 201 Principles of Financial Accounting Practice Set 1, Part 1 Put a line between each Chesapeake Bay Kayak Re...
can you help me turn these into a general journal May 1 Matt contributed land on the river worth $250,000 and a small building to use as a rental office worth $80,000 in exchange for 20,000 shares of $2 par value common stock. (Credit Common stock $40,000, and Paid In Capital in Excess of Par $290,000.) 1 Prepaid $4,800 for four months' rent on beach space. 2 Purchased additional kayaks by signing a note payable for $7,700. 2 Received $250...
outdoors. Matt has decided to incorporate the business to limit his legal liability. The business began operations April 1, 2019, and will have a May 31 year end. April 1 Received $32,000 cash to begin the company in exchange for 16,000 shares of $2 par value common stock. 2 Signed a lease for space on the beach and paid $1,200 for the first month's rent. 2 Purchased computer equipment for $2,800. 2 Hired Katie Weekly to help out with rentals...
part 2 outdoors. Matt has decided to incorporate the business to limit his legal liability. The business began operations April 1, 2019, and will have a May 31 year end. Received $32,000 cash to begin the company in exchange for 16,000 shares of $2 par value common stock April 1 2 Signed a lease for space on the beach and paid $1,200 for the first month's rent. 2 Purchased computer equipment for $2,800. 2 Hired Katie Weekly to help out...
can you help me figure out what these journal entries woukd be for these? operations April 1, 2019, and wi - no journoi entry needed April 1 Received $32,000 cash to begin the company in exchange for 16,000 shares of $2 par value common stock. 2 Signed a lease for space on the beach and paid $1,200 for the first month's rent. 2 Purchased computer equipment for $2,800. 2 Hired Katie Weekly to help out with rentals and tours at...
Required information On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts: Cash Accounts Receivable Office Equipment Canoe and Kayak Equipment Accounts Payable Shawn Dahi, Capital Revenue Expenses Transactions 1. Shawn Dahl invested $44,000 in cash to open the business 2. Paid $11,700 in cash for the purchase of kayak and canoe equipment 3. Paid $2,050 in cash for rent expense 4....
On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts: Cash Accounts Payable Accounts Receivable Shawn Dahl, Capital Office Equipment Revenue Canoe and Kayak Equipment Expenses Transactions Shawn Dahl invested $45,100 in cash to open the business Paid $12,800 in cash for the purchase of kayak and canoe equipment Paid $1,100 in cash for rent expense Purchased additional kayak and canoe equipment...
Required information On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts: Cash Accounts Receivable Office Equipment Canoe and Kayak EquipmentExpenses Accounts Payable Shawn Dahl, Capital Revenue Transactions 1. Shawn Dahl invested $50,000 in cash to open the business 2 Paid $14,200 in cash for the purchase of kayak and canoe equipment 3. Paid $2,200 in cash for rent expense 4. Purchased...
Required information On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts: Cash Accounts Payable Accounts Receivable Shawn Dahl, Capital Office Equipment Revenue Canoe and Kayak Equipment Expenses Transactions Shawn Dahl invested $45,600 in cash to open the business Paid $13,300 in cash for the purchase of kayak and canoe equipment Paid $1,350 in cash for rent expense Purchased additional kayak and...
Required information On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts: Part 2 of 2 Cash Accounts Receivable Office Equipment Canoe and Kayak Equipment Accounts Payable Shawn Dahl, Capital Revenue points Expenses Transactions 1. Shawn Dahl invested $44,100 in cash to open the business 2. Paid $11.800 in cash for the purchase of kayak and canoe equipment 3. Pald $2,000 in...
What is the answer to 1 2 and 3? On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts: Cash Accounts Payable Accounts Receivable Shawn Dahl, Capital Office Equipment Revenue Canoe and Kayak Equipment Expenses Transactions Shawn Dahl invested $44,900 in cash to open the business Paid $12,600 in cash for the purchase of kayak and canoe equipment Paid $1,600 in cash...