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    Chapter 2 (Mathematical)

    Uploaded by

    Sabbir Hossain
    The document provides accounting journal entries and ledger accounts for Holz Disc Golf Course for the month of March. Some key events include: - The owner contributed $20,000 cash in capital. Land, a shed, and golf equipment were purchased for $15,000. - Advertising expenses and prepaid insurance were recorded. Service revenue and unearned revenue were recorded in March for services to be provided in future months. - The owner took a $800 drawing. Salaries of $250 were paid. Accounts payable of $1,050 were settled. - By March 31st, cash totaled $6,700 while total service revenue was $3,800. The trial

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    Chapter 2 (Mathematical)

    Uploaded by

    Sabbir Hossain
    5 views9 pages
    The document provides accounting journal entries and ledger accounts for Holz Disc Golf Course for the month of March. Some key events include: - The owner contributed $20,000 cash in capital. Land, a shed, and golf equipment were purchased for $15,000. - Advertising expenses and prepaid insurance were recorded. Service revenue and unearned revenue were recorded in March for services to be provided in future months. - The owner took a $800 drawing. Salaries of $250 were paid. Accounts payable of $1,050 were settled. - By March 31st, cash totaled $6,700 while total service revenue was $3,800. The trial

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    The document provides accounting journal entries and ledger accounts for Holz Disc Golf Course for the month of March. Some key events include: - The owner contributed $20,000 cash in capital. Land, a shed, and golf equipment were purchased for $15,000. - Advertising expenses and prepaid insurance were recorded. Service revenue and unearned revenue were recorded in March for services to be provided in future months. - The owner took a $800 drawing. Salaries of $250 were paid. Accounts payable of $1,050 were settled. - By March 31st, cash totaled $6,700 while total service revenue was $3,800. The trial

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    5 views9 pages

    Chapter 2 (Mathematical)

    Uploaded by

    Sabbir Hossain
    The document provides accounting journal entries and ledger accounts for Holz Disc Golf Course for the month of March. Some key events include: - The owner contributed $20,000 cash in capital. Land, a shed, and golf equipment were purchased for $15,000. - Advertising expenses and prepaid insurance were recorded. Service revenue and unearned revenue were recorded in March for services to be provided in future months. - The owner took a $800 drawing. Salaries of $250 were paid. Accounts payable of $1,050 were settled. - By March 31st, cash totaled $6,700 while total service revenue was $3,800. The trial

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 9

    :: CHAPTER 2 ::

    THE RECORDING PROCESS


    --- LAMIA ALAM
    EXAMPLES OF DEFERRALS

    Prepaid Expense Unearned Revenue

    Expenses not incurred Services not performed


    yet but cash is paid. yet but cash is received.
    P2-1A
    HOLZ DISC GOLF COURSE
    GENERAL JOURNAL
    FOR THE MONTH OF MARCH
    Date Details Ref. Debit Credit
    No.
    Mar-1 Cash DR. 20,000
    Owner’s Capital CR. 20,000
    Mar-3 Land DR. 12,000
    Shed DR. 2,000
    Golf Equipment DR. 1,000
    Cash CR. 15,000
    Mar-5 Advertising Expense DR. 900
    Cash CR. 900
    Mar-6 Prepaid Insurance DR. 600
    Cash CR. 600
    Mar-10 Golf Equipment DR. 1,050
    A/P CR. 1,050
    Mar-18 Cash DR. 1,100
    Service Revenue CR. 1,100
    Date Details Ref. Debit Credit
    No.
    Mar-19 Cash DR. 1,500
    Unearned Revenue [150 X 10] CR. 1,500
    Mar-25 Owner’s Drawing DR. 800
    Cash CR. 800

    Mar-30 Salaries Expense DR. 250


    Cash CR. 250

    Mar-30 A/P DR. 1,050


    Cash CR. 1,050

    Mar-31 Cash DR. 2,700


    Service Revenue CR. 2,700

    Total $44,950 $44,950


    GOLF DISC GOLF COURSE
    GENERAL LEDGER
    FOR THE MONTH OF MARCH
    Cash CR. Golf Equipment
    DR. DR. CR.
    20,000 15,000 1,000 Balance C/D 2,050
    1,100 900 1,050
    1,500 600
    2,050 2,050
    2,700 800
    250
    1,050
    Balance C/D 6,700
    25,300 25,300

    Service Revenue
    DR. CR.
    A/P Balance C/D 3,800 1,100
    DR. CR.
    2,700
    1,050 1,050
    3,800 3,800
    1,050 1,050
    GOLF DISC GOLF COURSE
    TRIAL BALANCE
    AS ON MARCH 31
    SL Details Ref. Debit Credit
    NO. No.
    1. Cash 6,700
    2. Owner’s Capital 20,000
    3. Land 12,000
    4. Shed 2,000
    5. Golf Equipment 2,050
    6. Advertising Expense 900
    7. Prepaid Expense 600
    8. Service Revenue 3,800
    9. Unearned Revenue 1,500
    10. Owner’s Drawing 800
    11. Salaries Expense 250
    Total 25,300 25,300
    PRACTICE EXERCISE

    E2-2,4,6,7,8,9,17
    P2- 1A, 2A, 3A, 5A
    Thank You
    Stay In, Stay Safe!

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