Journalize the march transactions.

Assignment Help Financial Accounting
Reference no: EM13513660

Snyder Miniature Golf and Driving Range Inc. was opened on March 1 by Mickey Snyder. The following selected events and transactions occurred during March. Mar. 1 Invested $60,000 cash in the business in exchange for common stock. 3 Purchased Michelle Wie's Golf Land for $38,000 cash.

The price consists of land $10,000; building $22,000; and equipment $6,000. (Make one compound entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,600. 6 Paid cash $1,480 for a one-year insurance policy. 10 Purchased golf equipment for $2,500 from Young Company, payable in 30 days. 18 Received golf fees of $1,200 in cash. 25 Declared and paid a $1,000 cash dividend. 30 Paid wages of $900. 30 Paid Young Company in full. 31 Received $750 of fees in cash. Snyder uses the following accounts:

Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Instructions Journalize the March transactions. (Provide explanations for the journal entries.)

Reference no: EM13513660

Questions Cloud

Determine the frequency of the resulting oscillations : A mass of 12.5 kg is hanging by a steel wire 1.13 m long and 1.03 mm in diameter. If the mass is pulled down slightly and released, what will be the frequency of the resulting oscillations
Should division a still purchase from the outside : Will the company as a whole benefit if Division A purchases the units from the outside supplier for $100 per unit? Assume that there are no alternative uses for Division B's facilities.
What voltage is used to drive the dvd player : A portable DVD player is operated by rechargeable batteries. The batteries are recharged by a unit that plugs into a wall socket. What voltage is used to drive the DVD player
Explain how much will the ph change : A beaker with 200 ml of an acetic acid buffer with a pH of 5.00 is sitting on a benchtop. The total molarity of acid and conjugate base in this buffer is 0.100M . A student adds 6.10 ml of a 0.280 M solution to the beaker. How much will the pH cha..
Journalize the march transactions. : Price consists of land $10,000; building $22,000; and equipment $6,000. (Make one compound entry.) 5 Advertised the opening of the driving range and miniature
How much work can it perform in each cycle : The highest theoretical efficiency of a gasoline engine, based on the Carnot cycle, is 0.300 or 30.0%. If the heat engine absorbs 812 J of energy from the hot reservoir during each cycle, how much work can it perform in each cycle
Explain the 2s and 3s atomic orbitals of the h atom : The 2s and 3s atomic orbitals of the H atom are orthogonal.. If they are both spherical in shape so what makes them orthogonal
Compute the roi and ri for this division : Assume that the Pip division is presented with an investment project yielding a 20 percent return on its investment requiring a cash outlay of $30,000. Would the manager of the Pip division accept this investment under the ROI approach? How about ..
Define how much carbon dioxide is produced each day : The Kingston Steam plant burns 14000 tons of coal each day and generates 10^10 kilowatts-hours of electricity each year(enought for 700000 homes). Coal is primarily carbon which undergoes combustion in the following reaction: c + 02 -> CO2

Reviews

Write a Review

Financial Accounting Questions & Answers

  Create the production budget for vitapup

There are 1,300 bags on hand at start of January. VitaPup desires to maintain monthly ending inventory equal to 10% of next month's expected sales

  Multiple choice questions related to transaction

multiple choice questions related to transaction analysis.choose the correct option.1.nbspgross increases in owners

  Illustrate what is the balance in notes payable

Analyze: Illustrate what is the balance in Notes Payable on December 31, 2010, assuming that all notes were paid when due?

  How much should it charge per month for lobster-boat permit

how much should it charge per month for a lobster-boat permit? (Hint: when the fee is F dollars per month, the marginal cost of operating a boat is (2000+F) dollars per month.

  Calculate the optimum production plan

Calculate the optimum production plan the firm should follow next year given the above constraints.

  Town of dex recreation center construction balance sheet

How would these capital expenditures for recreation center appear on the Town of Dex's government-wide statements of net activities and assets and prepare journal entries to record preceding information in Town of Dex Recreation Center Construction ..

  What is the net cash flow attributable to the asset purchase

What is the net cash flow attributable to the asset purchase in each year and the adjusted basis in the asset at the end of each year?

  Determine the depreciation rates per mile

Assuming that the equipment had been sold on January 2, 2008, for $100,000 instead of $95,000, journalize the entry to record the sale.

  Prepare all necessary journal entries for roley

Roley paid freight costs of $1,200. On July 3, Roley returned damaged goods and received credit of $6,000. On July 10, Roley paid for the goods. Prepare all necessary journal entries for Roley.

  What are the number of shares par value per share

The market price of Sandals common stock is $150 on June 30. What are the number of shares, par value per share, and market price per share immediately after the 3-for-1 stock split?

  Briefly describe four types of demands customers

attention to customers is necessary for success. Briefly describe four types of demands customers are currently placing on organizational performance.

  Determine the balances of the accounts affected

Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trialbalance.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd