Question: Current Attempt in Progress Crane Disc Golf Course was opened on March 1 by lan Crane. The following selected events and transactions occurred during March.

Current Attempt in Progress Crane Disc Golf Course was opened on March 1 by lan Crane. The following selected events and transactions occurred during March. Mar. 1 3 4 5 10 18 19 25 29 30 31 Invested $16,000 cash in the business. Purchased Rainbow Golf Land for $12,000 cash. The price consists of land $9,600, shed $1,600, and equipment $800. (Include all in one transaction with three lines.) Purchased a one-year insurance policy for $720. Paid advertising expenses of $720. Purchased golf discs and other equipment for $840 from Stevenson Company payable in 30 days. Received $880 in cash for golf fees (Crane records golf fees as service revenue). Sold 120 rounds of disc golf for $10 each. Withdrew $640 cash for personal use. Paid salaries of $200. Paid Stevenson Company in full. Received $2,160 cash for golf fees.
 Current Attempt in Progress Crane Disc Golf Course was opened on
March 1 by lan Crane. The following selected events and transactions occurred

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!