Journalize the april transactions

Assignment Help Accounting Basics

Reference no: EM13160084

Frontier Park was started on April 1 by C. J. Mendez and associates. The following selected events and transactions occurred during April.
Apr. 1 Stockholders invested $40,000 cash in the business in exchange for common stock.
4 Purchased land costing $30,000 for cash.
8 Incurred advertising expense of $1,800 on account.
11 Paid salaries to employees $1,500.
12 Hired park manager at a salary of $4,000 per month, effective May 1.
13 Paid $1,500 cash for a one-year insurance policy.
17 Declared and paid a $1,000 cash dividend.
20 Received $5,700 in cash for admission fees.
25 Sold 100 coupon books for $25 each. Each book contains 10 coupons that entitle the holder to one admission to the park.
30 Received $8,900 in cash admission fees.
30 Paid $900 on balance owed for advertising incurred on April 8.
Mendez uses the following accounts: Cash; Prepaid Insurance; Land; Account Payable; Unearned Admission Revenue; Common stock; Dividends; Admission Revenue; Advertising Expense; and Salaries Expense.
Instructions
Journalize the April transactions. (If there is no transaction, enter No entry as the description and 0 for the amount.)

Reference no: EM13160084

Questions Cloud

Sternberg and gardners models of intelligence : What are the similarities and differences between Sternberg and Gardners models of intelligence?

State sodium borohydride in ethanol : After the Ketone react with sodium borohydride in ethanol. HCl be added dropwise, and then remove the ethanol by distillation, then add DCM and ice water.

Determine the boundaries for the three stages of production : Find the number of units of input L that maximizes the average product function. Determine the boundaries for the three stages of production.

Introduction to statement of cash flows : Discount Sales sells some used store fixtures. The acquisition cost of the fixtures is $12,500, the accumulated depreciation on these fixtures is $9,750 at the time of sale. The fixtures are sold for $4,500.The value of this transaction in the Inv..

Journalize the april transactions : Journalize the April transactions. (If there is no transaction, enter No entry as the description and 0 for the amount.)

How monoprotic weak acid is titrated : Since there are that many Moles of KOH there must be equal moles of the acid. So 4.14*10-3moles/.05L= X M of initial acid== .0828M?

Calculate the cost of equity for the two firms : What does the difference in the CCCs tell us about the riskiness of the two firms? Why is that the case? If the expected industry return is 8%, will both firms stay in the industry? Calculate the cost of equity for the two firms?

What are the highest and lowest payments : What are the highest and lowest payments from the writer that the beekeeper-farmer team will accept for the sixth day?

Inelastic or elastic in short and long term : Determine whether the demand for this product is inelastic or elastic in the short and long term, and explain your reasoning.

User Account

All Pages