P2-1A Classified the following accounts as: Owner's Assets Liabiltie s (Cr) Equity (cr) Revenu Expense Drawing (Dr) (Dr) e (Cr) (Dr) Cash Prepaid Insurance Accounts Payable Advertising Expense Utilities Expenses Accounts Receivable Equipment Salaries and Wages Expen Rent Expense Owner's Capital Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected events and transactions occurred during March. In vested $20,000 cash in the business. 3 Purchased Rainbow Golf Land for $15,000 cash. The price consists of land $12,000, shed $2,000, and equipment $1,000. (Make one compound entry). Mar 5 Paid advertising expenses of $900. 6 Paid cash $600 for a one-year insurance policy. 10 Purchased golf discs and other equipment for $1,050 from Stevenson Company payable in 30 days. 18 18 Received $1,100 in cash for golf fees (Holz records golf fees as service revenue). 19 Sold 150 coupon books for $10 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. 25 Withdrew $800 cash for personal use. 30 Paid salaries of $250. 30 Paid Stevenson Company in full. 31 Received $2,700 cash for golf fees. Holz Disc Golf uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's Drawing, Service Revenue, Advertising Expense, and Wages Expense. Instructions: Journalize the March transactions.
P2-1A Classified the following accounts as: Owner's Assets Liabiltie s (Cr) Equity (cr) Revenu Expense Drawing (Dr) (Dr) e (Cr) (Dr) Cash Prepaid Insurance Accounts Payable Advertising Expense Utilities Expenses Accounts Receivable Equipment Salaries and Wages Expen Rent Expense Owner's Capital Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected events and transactions occurred during March. In vested $20,000 cash in the business. 3 Purchased Rainbow Golf Land for $15,000 cash. The price consists of land $12,000, shed $2,000, and equipment $1,000. (Make one compound entry). Mar 5 Paid advertising expenses of $900. 6 Paid cash $600 for a one-year insurance policy. 10 Purchased golf discs and other equipment for $1,050 from Stevenson Company payable in 30 days. 18 18 Received $1,100 in cash for golf fees (Holz records golf fees as service revenue). 19 Sold 150 coupon books for $10 each. Each book contains 4 coupons that enable the holder to play one round of disc golf. 25 Withdrew $800 cash for personal use. 30 Paid salaries of $250. 30 Paid Stevenson Company in full. 31 Received $2,700 cash for golf fees. Holz Disc Golf uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's Drawing, Service Revenue, Advertising Expense, and Wages Expense. Instructions: Journalize the March transactions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Part 3
![P2-1A
Classified the following accounts as:
Owner's
Assets Liabiltie
s (Cr)
Equity
(cr)
Revenu Expense Drawing
(Dr)
(Dr)
e (Cr)
(Dr)
Cash
Prepaid Insurance
Accounts Payable
Advertising Expense
Utilities Expenses
Accounts Receivable
Equipment
Salaries and Wages Expen
Rent Expense
Owner's Capital
Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected events
and transactions occurred during March.
In vested $20,000 cash in the business.
3 Purchased Rainbow Golf Land for $15,000 cash. The price consists of land $12,000,
shed $2,000, and equipment $1,000. (Make one compound entry).
Mar
5 Paid advertising expenses of $900.
6 Paid cash $600 for a one-year insurance policy.
10 Purchased golf discs and other equipment for $1,050 from Stevenson Company
payable in 30 days.
18 18 Received $1,100 in cash for golf fees (Holz records golf fees as service revenue).
19 Sold 150 coupon books for $10 each. Each book contains 4 coupons that enable the
holder to play one round of disc golf.
25 Withdrew $800 cash for personal use.
30 Paid salaries of $250.
30 Paid Stevenson Company in full.
31 Received $2,700 cash for golf fees.
Holz Disc Golf uses the following accounts: Cash, Prepaid Insurance, Land, Buildings,
Equipment, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's
Drawing, Service Revenue, Advertising Expense, and Wages Expense.
Instructions:
Journalize the March transactions.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F15d10d69-1dbb-4eaf-8747-555f244f8c25%2F361f4507-8cc9-4841-bc94-937342c3254c%2Fpne14t.png&w=3840&q=75)
Transcribed Image Text:P2-1A
Classified the following accounts as:
Owner's
Assets Liabiltie
s (Cr)
Equity
(cr)
Revenu Expense Drawing
(Dr)
(Dr)
e (Cr)
(Dr)
Cash
Prepaid Insurance
Accounts Payable
Advertising Expense
Utilities Expenses
Accounts Receivable
Equipment
Salaries and Wages Expen
Rent Expense
Owner's Capital
Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected events
and transactions occurred during March.
In vested $20,000 cash in the business.
3 Purchased Rainbow Golf Land for $15,000 cash. The price consists of land $12,000,
shed $2,000, and equipment $1,000. (Make one compound entry).
Mar
5 Paid advertising expenses of $900.
6 Paid cash $600 for a one-year insurance policy.
10 Purchased golf discs and other equipment for $1,050 from Stevenson Company
payable in 30 days.
18 18 Received $1,100 in cash for golf fees (Holz records golf fees as service revenue).
19 Sold 150 coupon books for $10 each. Each book contains 4 coupons that enable the
holder to play one round of disc golf.
25 Withdrew $800 cash for personal use.
30 Paid salaries of $250.
30 Paid Stevenson Company in full.
31 Received $2,700 cash for golf fees.
Holz Disc Golf uses the following accounts: Cash, Prepaid Insurance, Land, Buildings,
Equipment, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's
Drawing, Service Revenue, Advertising Expense, and Wages Expense.
Instructions:
Journalize the March transactions.
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