Question

Return to Blackboard Weygandt, Accounting Principles, 13e Help System Announcements Problem 2-01A Holz Disc Golf Course was opened on March 1 by Colada Holz. The following selected events and transactions occurred during March Mar. 1 Invested $21,000 cash in the business 3 Purchased Rainbow Golf Land for $16,000 cash. The price consists of land $12,700, shed $1,900, and equipment $1,400. (Make one compound entry) 5 Paid advertising expenses of $700. 6 Paid cash $680 for a one-year insurance policy. 10 Purchased golf discs and other equipment for $1,000 from Stevenson Company payable in 30 days. 18 Received $1,200 in cash for golf fees (Holz records golf fees as service revenue). 19 Sold 100 coupon books for $20 each. Each book contains 4 coupons that enable the holder to play one round of disc golf 25 Withdrew $900 cash for personal use. 30 Paid salaries of $200 30 Paid Stevenson Company in full 31 Received $2,100 cash for golf fees Journalize the March transactions. (Credit account titles are automatically indented when anunt is entered. Do not indent manually. Record journalen If no entry is required, select "No Entry for the account titles and enter for the amount Date Account Titles and Explanation Credit

Answer 1

The journal entry will be passed on the date of the transaction. The entries wll be as under:
Journal entres Is Cesh To (bening All Capital $ 21,000 Tood Inverted Cepatel $ 27,000 i Business) Iureshed Land Shed quipment To (bening All All All Cogn Asset at 12700 at 1900 do you AIC Hooo Purchased Recorded) & Too odra Adrestising eup All at To Cosh All being adrestion ep Paid $700 Cash ah & to $566.67 $ 113. 33 Insurance All Prepaid aus. d Al To Cash (beint Insurance paid) $1000 Aalf desc & qupment Dr To Accounts Payable (being Asset uz Purchased slovo on account

Con To (bening All sales $1200 at All sales $1200 Recorded) ф 260 Сосие To Salls (being Coupon buks $7000 seld) Drawings Dr & 96 To Cosh $ 900 (being drawings made) Salaries All of $200 - To Cosh All (bering salaries Poid) $200 $1ovo Accounts Payable Dr Slove To Cash (being amount paid in full) Cash Allah $2100 To salls All $210 (Calf feel Recognered as Revenue)