Question: I need help journalizing the above. 9:43 PM 48% 4 ..Sprint Done HW_3_F20.docx_6b7da3f920587... Homework #3 Name: Acet 205 Date: This homework problem is an INDEPENDENT

 I need help journalizing the above. 9:43 PM 48% 4 ..Sprint
I need help journalizing the above.

9:43 PM 48% 4 ..Sprint Done HW_3_F20.docx_6b7da3f920587... Homework #3 Name: Acet 205 Date: This homework problem is an INDEPENDENT assignment. Please turn in a scanned copy of the original handwritten work on Moodle. RV Oasis was started on April 1 by Taras Dankert. These selected events and transactions occurred during April. Apr. 1 Stockholders invested $70,000 cash in the business in exchange for common stock. 4 Purchased land costing $50,000 for cash. 8 Purchased advertising in local newspaper for $1,200 on account Paid salaries to employees $2,700. 12 Hired park manager at a salary of $3,600 per month, effective May 1. 13 Paid $7,200 for a 1-year insurance policy. 17 Paid $600 cash dividends. 20 Received $6,000 in cash from customers for admission fees. 25 Sold 100 coupon books for $90 each. Each book contains ten coupons that entitle the holder to one admission to the park. (Hint: The revenue should not be recognized until the coupons are used.) 30 Received $7,900 in cash from customers for admission fees. 30 Paid $400 of the balance owed for the advertising purchased on account on April 8. The company uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Instructions Journalize the April transactions. RV Oasis records admission fees as service revenue

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!