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22 November, 09:36

Apr. 1 Stockholders invested $51,600 cash in the business in exchange for common stock. 4 Purchased land costing $29,000 for cash. 8 Incurred advertising expense of $1,700 on account. 11 Paid salaries to employees $1,580.12 Hired park manager at a salary of $3,400 per month, effective May 1.13 Paid $1,340 cash for a one-year insurance policy. 17 Declared and paid a $1,830 cash dividend. 20 Received $6,700 in cash for admission fees. 25 Sold 134 coupon books for $59 each. Each book contains 10 coupons that entitle the holder to one admission to the park. 30 Received $9,400 in cash admission fees. 30 Paid $890 on balance owed for advertising incurred on April 8.

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  1. 22 November, 10:02
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    We have to journalize these transactions.

    Explanation:

    Date Account Debit Credit

    04/01 Cash $51,600

    Common Stock $51,600

    04/04 Land $29,000

    Cash $29,000

    04/08 Advertising Expense $1,700

    Accounts Payable $1,700

    04/11 Wages Expense $1,580.12

    Cash $1,580.12

    04/12 Wages Expense $3,400

    Accrued Wages $3,400

    04/13 Pre-Paid Insurance $1,340

    Cash $1,340

    04/17 Dividends Payable $1,830

    Cash $1,830

    04/20 Cash $6,700

    Revenue $6,700

    04/25 Cash $7,906

    Revenue $7,906

    04/30 Cash $9,400

    Revenue $9,400

    04/30 Cash $890

    Accounts Payable $890
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