Prepare Journal entries for all the transactions?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prepare Journal entries for all the transactions?

Transcribed Image Text:Apr. 1 Night invested cash in business, $90,000.
1
Paid insurance premium for six-month camping season, $9,000.
2
Paid rent for lodge and campgrounds for the month of April, $40,000.
2
Deposited registration fees, $35,000.
2
Purchased 10 fishing boats on account for $60,000. The boats have estimated useful lives of five years, at which
time they will be donated to a local day camp. Arrangements were made to pay for the boats in July.
3
Purchased food supplies from Acme Super Market on account, $7,000.
5
Purchased office supplies from Gordon Office Supplies on account, $500.
7
Deposited registration fees, $38,600.
10
Purchased food supplies from Acme Super Market on account, $8,200.
10
Paid wages to fishing guides, $10,000.
14
Deposited registration fees, $30,500.
16
Purchased food supplies from Acme Super Market on account, $9000.
17
Paid wages to fishing guides, $10,000.
18
Paid postage, $150.
Deposited registration fees, $35,600.
24
Purchased food supplies from Acme Super Market on account, $8,500.
21
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