logistic_guy
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\(\displaystyle \text{Frontier Park}\) was started on April \(\displaystyle 1\) by \(\displaystyle \text{M. Preston}\). The following selected events and transactions occurred during April.
\(\displaystyle \bold{1}\) Preston invested \(\displaystyle \$ 35,000\) cash in the business.
\(\displaystyle \bold{4}\) Purchased land costing \(\displaystyle \$ 27,000\) for cash.
\(\displaystyle \bold{8}\) Incurred advertising expense of \(\displaystyle \$ 1,800\) on account.
\(\displaystyle \bold{11}\) Paid salaries to employees \(\displaystyle \$ 1,500\).
\(\displaystyle \bold{12}\) Hired park manager at a salary of \(\displaystyle \$ 4,000\) per month, effective May \(\displaystyle 1\).
\(\displaystyle \bold{13}\) Paid \(\displaystyle \$ 1,650\) cash for a one-year insurance policy.
\(\displaystyle \bold{17}\) Withdrew \(\displaystyle \$ 1,000\) cash for personal use.
\(\displaystyle \bold{20}\) Received \(\displaystyle \$ 6,800\) in cash for admission fees.
\(\displaystyle \bold{25}\) Sold \(\displaystyle 100\) coupon books for \(\displaystyle \$ 25\) each. Each book contains \(\displaystyle 10\) coupons that entitle the holder to one admission to the park.
\(\displaystyle \bold{30}\) Received \(\displaystyle \$ 8,900\) in cash admission fees.
\(\displaystyle \bold{30}\) Paid \(\displaystyle \$ 900\) on balance owed for advertising incurred on April \(\displaystyle 8\).
\(\displaystyle \text{Frontier Park}\) uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Owner’s Capital, Owner’s Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
Instructions
Journalize the April transactions.
\(\displaystyle \bold{1}\) Preston invested \(\displaystyle \$ 35,000\) cash in the business.
\(\displaystyle \bold{4}\) Purchased land costing \(\displaystyle \$ 27,000\) for cash.
\(\displaystyle \bold{8}\) Incurred advertising expense of \(\displaystyle \$ 1,800\) on account.
\(\displaystyle \bold{11}\) Paid salaries to employees \(\displaystyle \$ 1,500\).
\(\displaystyle \bold{12}\) Hired park manager at a salary of \(\displaystyle \$ 4,000\) per month, effective May \(\displaystyle 1\).
\(\displaystyle \bold{13}\) Paid \(\displaystyle \$ 1,650\) cash for a one-year insurance policy.
\(\displaystyle \bold{17}\) Withdrew \(\displaystyle \$ 1,000\) cash for personal use.
\(\displaystyle \bold{20}\) Received \(\displaystyle \$ 6,800\) in cash for admission fees.
\(\displaystyle \bold{25}\) Sold \(\displaystyle 100\) coupon books for \(\displaystyle \$ 25\) each. Each book contains \(\displaystyle 10\) coupons that entitle the holder to one admission to the park.
\(\displaystyle \bold{30}\) Received \(\displaystyle \$ 8,900\) in cash admission fees.
\(\displaystyle \bold{30}\) Paid \(\displaystyle \$ 900\) on balance owed for advertising incurred on April \(\displaystyle 8\).
\(\displaystyle \text{Frontier Park}\) uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Owner’s Capital, Owner’s Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
Instructions
Journalize the April transactions.