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    RV Haven Was Started On April 1 by Tom Larkin

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    M Bilal Saleem
    RV Haven was started on April 1 by Tom Larkin. During April, stockholders invested $70,000 for common stock, land was purchased for $50,000, and advertising was purchased for $1,200 on account. Various operating expenses were paid such as salaries of $2,700, insurance of $6,000, and dividends of $600 were issued. Revenue was also generated through admission fees of $5,000 and $7,900 as well as coupon book sales of $75 each totaling $7,500.

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    RV Haven Was Started On April 1 by Tom Larkin

    Uploaded by

    M Bilal Saleem
    6 views1 page
    RV Haven was started on April 1 by Tom Larkin. During April, stockholders invested $70,000 for common stock, land was purchased for $50,000, and advertising was purchased for $1,200 on account. Various operating expenses were paid such as salaries of $2,700, insurance of $6,000, and dividends of $600 were issued. Revenue was also generated through admission fees of $5,000 and $7,900 as well as coupon book sales of $75 each totaling $7,500.

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    Rv Haven Was Started on April 1 by Tom Larkin

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    RV Haven was started on April 1 by Tom Larkin. During April, stockholders invested $70,000 for common stock, land was purchased for $50,000, and advertising was purchased for $1,200 on account. Various operating expenses were paid such as salaries of $2,700, insurance of $6,000, and dividends of $600 were issued. Revenue was also generated through admission fees of $5,000 and $7,900 as well as coupon book sales of $75 each totaling $7,500.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    6 views1 page

    RV Haven Was Started On April 1 by Tom Larkin

    Uploaded by

    M Bilal Saleem
    RV Haven was started on April 1 by Tom Larkin. During April, stockholders invested $70,000 for common stock, land was purchased for $50,000, and advertising was purchased for $1,200 on account. Various operating expenses were paid such as salaries of $2,700, insurance of $6,000, and dividends of $600 were issued. Revenue was also generated through admission fees of $5,000 and $7,900 as well as coupon book sales of $75 each totaling $7,500.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    RV Haven was started on April 1 by Tom Larkin

    RV Haven was started on April 1 by Tom Larkin. 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.11 Paid salaries to employees $2,700.12 Hired park manager
    at a salary of $3,000 per month, effective May 1.13 Paid $6,000 for a 1-year insurance policy.17
    Paid $600 cash dividends.20 Received $5,000 in cash from customers for admission fees.25
    Sold 100 coupon books for $75 each. Each book contains ten coupons that entitle the holder to
    one admission to the park. 30 Received $7,900 in cash from customers for admission fees.30
    Paid $500 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 Admissions, Common Stock, Dividends, Admission Revenue, Advertising Expense,
    and Salaries Expense.InstructionsJournalize the April transactions, including explanations.View
    Solution:
    RV Haven was started on April 1 by Tom Larkin
    SOLUTION-- http://expertanswer.online/downloads/rv-haven-was-started-on-april-1-by-tom-
    larkin/

    See Answer here expertanswer.online


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