Accounting
Morris0403
1.doc
Template
BUS-FP3061 – Fundamentals of Accounting
Instructions
Accounts to be used:
· Cash.
· Prepaid insurance.
· Land.
· Buildings.
· Equipment.
· Accounts payable.
· Unearned service revenue.
· Owner's capital.
· Owner's drawings.
· Service revenue.
· Advertising expense.
· Salaries and wages expense.
Leave a space between each dated transaction.
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May 1 |
Invested $20,000 cash in the golf course business. |
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May 3 |
Purchased Hampstead Golf Land for $15,000 cash. The price includes land $12,000, shed $2,000, and equipment $1,000. |
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May 5 |
Paid advertising expenses of $700. |
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May 6 |
Paid cash $600 for a one-year insurance policy. |
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May 10 |
Purchased golf discs and other equipment for $1,050 from Discs Are Us, payable in 30 days. |
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May 18 |
Received $1,100 in cash for golf fees earned (service revenue). |
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May 19 |
Sold 150 coupon books for $10 each. Each book contains four coupons that enable the holder to play one round of disc golf. |
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May 25 |
Withdrew $800 cash for personal use. |
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May 30 |
Pay $250 as salaries for part-time employees. |
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May 30 |
Paid Discs Are Us the full amount due. |
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May 31 |
Received $2,100 cash for fees earned. |
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Accounts |
Debit |
Credit |
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Capella Proprietary and Confidential
ShortDoc_Internal.doc
Last updated: 2/25/2015 9:16 AM 1
Capella Proprietary and Confidential
ShortDoc_Internal.doc
Last updated: 2/25/2015 9:16 AM 3
