Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. p2.1a (lo 1, 2) holz disc golf course was opened o

P2.1A (LO 1, 2) Holz Disc Golf Course was opened on March 1 by lan...

90.2K

Verified Solution

Question

Accounting

image
P2.1A (LO 1, 2) Holz Disc Golf Course was opened on March 1 by lan Holz. The following selected events and transactions occurred during March. Journalize a series of transactions. Mar. 1 Invested $20,000 cash in the business. 13 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 Paid advertising expenses of $900. 6 Paid cash $600 for a one-year insurance policy. 1 Purchased golf discs and other equipment for $1,050 from Stevenson o Company payable in 30 days. 1 Received $1,100 in cash for golf fees (Holz records golf fees as service 8 revenue). 1 Sold 150 coupon books for $10 each. Each book contains 4 coupons that 9 enable the holder to play one round of disc golf. 2 Withdrew $800 cash for personal use. 5 13 Paid salaries of $250. 0 3 Paid Stevenson Company in full. 3 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. Instructions Journalize the March transactions

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

1.Prontosil showed anti-bacterial activity in patients in vivo but not in vitro. What is the reason...

Physics
1.2K views

7. Compare the energy needed to move 20 people 10km with 5 cars of 4 people...

Biology
1.2K views

Which of these is NOT a use for DNA fingerprinting?A. Match organ donors with recipients...

Biology
1.2K views

Ichthyosaurs below are not dolphins which are mammals but they sure look like dolphins What...

Basic Math
1.2K views

If triangle MNO is congruent to triangle STR what must also be true M N...

Basic Math
1.2K views

If 5000 dollars is invested in a bank account at an interest rate of 10...

Accounting
1.2K views

Determining the effects of stock splits on the accounting records LO 8-7 The market value...

Accounting
1.2K views

What type of skills and experience do you think would be most relevant to a...

Accounting
1.2K views

The economic order quantity

Accounting
1.2K views

i

Accounting
1.2K views

Joumalize the entry to record the flow of labor costs into production during May. Joumalize...

Accounting
1.2K views

On February 1, you borrow $750,000 to buy a house. The mortgage rate is 7.23%...