Accounting Homework
Template
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.
| May 1 | Invested $20,000 cash in the golf course business. |
| May 3 | Purchased Hampstead Golf Land for $15,000 cash. The price includes land $12,000, shed $2,000, and equipment $1,000. |
| May 5 | Paid advertising expenses of $700. |
| May 6 | Paid cash $600 for a one-year insurance policy. |
| May 10 | Purchased golf discs and other equipment for $1,050 from Discs Are Us, payable in 30 days. |
| May 18 | Received $1,100 in cash for golf fees earned (service revenue). |
| 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. |
| May 25 | Withdrew $800 cash for personal use. |
| May 30 | Pay $250 as salaries for part-time employees. |
| May 30 | Paid Discs Are Us the full amount due. |
| May 31 | Received $2,100 cash for fees earned. |
| Date | Accounts | Debit | Credit |
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Capella Proprietary and Confidential
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Last updated: 8/14/2019 2:39 AM3
