Each book contains 4 coupons that enable the holder to play one round of disc

Each book contains 4 coupons that enable the holder

This preview shows page 7 - 10 out of 12 pages.

Each book contains 4 coupons that enable the holder to play one round of disc golf.25Withdrew $800 cash for personal use.30Paid salaries of $250.30Paid Stevenson Company in full.31Received $2,700 cash for golf fees.The company's chart of accounts are as follows:Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Owner's Capital,Owner's Draw, Service Revenue, Advertising Expense, and Salaries and Wages Expense.Instructions:Journalize the March transactions. J1 Date Account Titles and Explanation Ref. Debit Credit Mar 1 Cash 20,000 Service Revenue 20,000 Owners investment of cash in business 3 Land 12,000 Building 2,000 Equipment 1,000 Cash 15,000 Purchased Rainbow Golf Land 5 Advertising Expense 900 Cash 900 Paid for advertising expenses 6 Prepaid Insurance Cash 600
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Purchased one-year insurance policy 600 10 Equipment 1,050 Accounts Payable 1,050 Equipment purchased amount of $1050 due in 30 da 18 Cash 1,100 Service Revenue 1,100 Golf fees 19 Cash 1,500 Unearned Revenue 1,500 150 coupon books for $10 each 25 Owner's Draw 800 Cash 800 Withdrew cash for personal use 30 Salaries and Wages Expense 250 Cash 250 Paid saleries 30 Accounts Payable 1,050 Cash 1,050 Paid equipment in full 31 Cash 2,700 Service Revenue 2,700 Recived cash for golf fees
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Problem 2-2A, p.84Emily Valley is a licensed dentist. During the first month of operation of her business, the following events and traApri1Invested $20,000 casxh in her business.1Hired a sectretary-receptionist at a salary of $700 per week payable monthly.2Paid office rent for the month $1,100.3Purchased dental supplies on account from Dazzle Company $4,000.10Performed dental services and billed insurance companies $5,100.11Received $1,000 cash advance from Leah Mataruka for an implant.20Received $2,100 cash for services performed from Michael Santos.30Paid secretary-receptionist fro the month $2,800.30Paid $2,400 to Dazzle for accounts payable due.Instructions:(a)Journalize the April transactions. (b)Post the April journal entries to the ledger. ( c)Prepare a trail balance at April 30, 2017.
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