Question
$4.00 P2-1A Accounting question. Frontier Park was started on April 1 by C. J. Mendez. The following selected events and trans
Found in Business: AccountingChapter 1, # 0
Q:
Frontier Park was started on April 1 by C. J. Mendez. The following selected events and transactions occurred during April.
| Apr. 1 | Mendez invested $40,000 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 $1,000 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. |
Mendez uses the following accounts: Cash; Prepaid Insurance; Land; Account Payable; Unearned Admission Revenue; C.J. Mendez Capital; C.J. Mendez Drawing; Admission Revenue; Advertising Expenses; and Salaries Expense.
Instructions
Journalize the April transactions. (If there is no transaction, enter No entry as the account and 0 for the amount.)
$4.00
P2-1A Accounting question. Frontier Park was started on April 1 by C. J. Mendez. The following selected events and trans
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