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1 3 Instructions Prepare closing entries for Homer Winslow Co. on December 31, 2017. (Omit...

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1 3 Instructions Prepare closing entries for Homer Winslow Co. on December 31, 2017. (Omit explanations.) E3-17 (L02) (Transactions of a Corporation, including Investment and Dividend) Scratch Miniature Golf and Driving Range Inc. was opened on March 1 by Scott Verplank. The following selected events and transactions occurred during March Mar Invested $50,000 cash in the business in exchange for common stock Purchased Michelle Wie's Golf Land for $38,000 cash. The price consists of land $10,000, building $22,000, and equipment $6,000. (Make one compound entry) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,600. Paid cash $1.480 for a one-year insurance policy. Purchased golf equipment for S2,500 from Singh Company, payable in 30 days. Received golf fees of $1,200 in cash. 25 Declared and paid a $500 cash dividend. Paid wages of $900 Paid Singh Company in full. 31 Received $750 of fees in cash. Scratch uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Instructions 6 10 18 30

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