Access over 20 million homework & study documents

search

BUS FP3061 McAndrewVanessa Assessment4 Attempt2 part 1

Content type
User Generated
Rating
Showing Page:
1/3
Capella Proprietary and Confidential
ShortDoc_Internal.doc
Last updated: 10/3/2021 1:43 AM 1
BUS-FP3061 Assessment 4, Part 1 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.
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.

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/3
Template
Capella Proprietary and Confidential
ShortDoc_Internal.doc
Last updated: 10/3/2021 1:43 AM 2
May 31
Received $2,100 cash for fees earned.
Date
Accounts
Debit
Credit
May 1
Cash
$20,000
Owner’s capital
$20,000
May 3
Cash
$15,000
Land
$14,000
Equipment
$1000
May 5
Cash
$700
Advertising expenses
$700
May 6
Cash
$600
Prepaid Insurance
$600
May 10
Equipment
$1050
Accounts payable
$1050
May 18
Cash
$1,100
Service Revenue
$1,100
May 19
Cash
$1500
Service Revenue
$1500
May 25
Owner's capital
$800
Owner's drawings
$800
May 30
Salaries and wages expense
$250
Cash
$250
Cash
$1050
Accounts payable
$1050

Sign up to view the full document!

lock_open Sign Up
Showing Page:
3/3

Sign up to view the full document!

lock_open Sign Up
Unformatted Attachment Preview
BUS-FP3061 Assessment 4, Part 1 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. 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 Sol ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
Awesome! Perfect study aid.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4