BUS-FP3061_Assessment4-1_Part1.doc - BUS-FP3061 Assessment 4 Part 1 Template BUS-FP3061 \u2013 Fundamentals of Accounting Instructions Accounts to be used

BUS-FP3061_Assessment4-1_Part1.doc - BUS-FP3061 Assessment...

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BUS-FP3061 Assessment 4, Part 1 Template BUS-FP3061 – Fundamentals of Accounting Instructions Accounts to be used: Cash. Prepaid insurance. Land. Buildings. Equipment. Accounts payable. Unearned service revenue. Owner's capital. Owner's drawings. Service revenue. Advertising expense. Salaries and wages expense. Leave a space between each dated transaction. May 1 Invested $20,000 cash in the golf course business. May 3 Purchased Hampstead Golf Land for $15,000 cash. The price includes land $12,000, shed $2,000, and equipment $1,000. May 5 Paid advertising expenses of $700. May 6 Paid cash $600 for a one-year insurance policy. May 10 Purchased golf discs and other equipment for $1,050 from Discs Are Us, payable in 30 days. May 18 Received $1,100 in cash for golf fees earned (service revenue). May 19 Sold 150 coupon books for $10 each. Each book contains four coupons that enable the holder to play one round of disc golf. May 25 Withdrew $800 cash for personal use. May 30 Pay $250 as salaries for part-time employees.
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  • Winter '16
  • Paul Franklin
  • Revenue, 1981, Double-entry bookkeeping system, Capella Proprietary and Confidential, Hampstead Golf Land

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