Name: CHAPTER 2 Jounal using T accounts QUIZ
Use of help desk on this quiz is not allowed
Frontier Park was started on April 1 by C. J. Amaro. The following selected events and transactions occurred during April.
Apr. 1 Amaro invested $50,000 cash in the business.
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 Withdrew $600 cash for personal use.
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.
Instructions Journalize the April transactions in the T Accounts below. The first Transaction has been done for you
Note: There is one event that does not need to be recorded
enter date in mm-dd such as 04-12, 04-13 etc.
Cell formating will convert it to format similar to the first transaction
Assets = Liabilities + Owner's Equity
Cash No. 101 Accounts Payable No. 200 Amaro, Capital No. 301 Admission Revenue No. 400
Date Debit Credit Date Debit Credit Date Debit Credit Date Debit Credit
1-Apr 50,000 1-Apr 50,000
Prepaid Insurance No. 130 Unearned Adm. Revenue No. 201 Amaro, Drawing No. 306 Advertising ExpenseNo. 631
Date Debit Credit Date Debit Credit Date Debit Credit Date Debit Credit
Land No. 140 Salaries Expense No. 711
Date Debit Credit Date Debit Credit
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