Forte Disc Golf Course wApagoMaPDF MEnhanceng selected Journalize a serī P2-1B events and transactions occurred during March. transactions. (SO 2, 4) Mar. 1 Invested $20,000 cash in the business. 3 GLS Purchased Heeren's Golf Land for $15,000 cash. The price consists of land $12,000, shed $2,000, and equipment $1,000. (Make one compound entry.) 5 Paid advertising expenses of $700. Paid cash $600 for a one-year insurance policy. Purchased golf discs and other equipment for $1,050 from Innova Company payable in 30 days. Received $1,100 in cash for golf fees earned (Forte records golf fees as service revenue). Sold 150 coupon books for $10 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. Withdrew $800 cash for personal use. Paid salaries of $250. Paid Innova Company in full. Received $2,100 cash for fees earned. 6. 10 18 19 25 30 30 31 Matt Forte uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.

Forte Disc Golf Course wApagoMaPDF MEnhanceng selected Journalize a serī P2-1B events and transactions occurred during March. transactions. (SO 2, 4) Mar. 1 Invested $20,000 cash in the business. 3 GLS Purchased Heeren's Golf Land for $15,000 cash. The price consists of land $12,000, shed $2,000, and equipment $1,000. (Make one compound entry.) 5 Paid advertising expenses of $700. Paid cash $600 for a one-year insurance policy. Purchased golf discs and other equipment for $1,050 from Innova Company payable in 30 days. Received $1,100 in cash for golf fees earned (Forte records golf fees as service revenue). Sold 150 coupon books for $10 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. Withdrew $800 cash for personal use. Paid salaries of $250. Paid Innova Company in full. Received $2,100 cash for fees earned. 6. 10 18 19 25 30 30 31 Matt Forte uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Should a transaction be first recorded in a journal or ledger? Why?
The book where transactions related to a particular account is summarized. a. General Ledger b. Financial statement c. General Journal d. Trial balance
Which of the following items is considered an original source document? Select one: a. accounts receivable b. company expense account c. purchase order d. general ledger
Discuss the types of books of original entry. Describe how the accounting information flow from the invoice,ledger and to general ledger. Explain the importance of the books of original entry.
What account type are included in a post-closing trial balance
The closing entry for interest received given in the trial balance will
Which among the following is considered as the book of original entry? a. Trial Balance b. Balance Sheet c. Journal d. Ledger
How does the data flow from the transaction (e.g. MRI scan) to financial statements? Use the following key terms in your response: transaction, journal entry, general ledger, financial statement.
An accounting clerk would take first which of the following steps? A. Post individual amounts to the subsidiary ledgers. B. File source documents C. Journalize the business transaction D. Post to the general ledgers.
Is Warehouse included in a post closing trial balance?
The first required step in the accounting cycle is: O journalizing transactions, posting transactions.. Oanalyzing transactions. O adjusting entries.