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P2-1A Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected Journalize a series c events and transactions occurred during March. transactions. Mar. 1 Invested $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.) Paid advertising expenses of $900. 6. (LO 1, 2) GLS 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 Received $1,100kn 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 Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.

P2-1A Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected Journalize a series c events and transactions occurred during March. transactions. Mar. 1 Invested $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.) Paid advertising expenses of $900. 6. (LO 1, 2) GLS 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 Received $1,100kn 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 Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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olaborate H05dcd610d674990b9c58c4ec5ce73ce PROBLEMS: SET A P2-1A Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected Journalize a series of events and transactions occurred during March. transactions. (LO 1, 2) Invested $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.) 5. Mar. 1 GLS 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 Received $1,100kn 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 Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
Transcribed Image Text:olaborate H05dcd610d674990b9c58c4ec5ce73ce PROBLEMS: SET A P2-1A Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected Journalize a series of events and transactions occurred during March. transactions. (LO 1, 2) Invested $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.) 5. Mar. 1 GLS 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 Received $1,100kn 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 Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense.
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