Rabbit
Miniature Golf Inc was opened on February 1 by Michael Rabbit. The following
selected events and transaction occurred during February.
Feb. 1 Invested
$60,000 cash in the business in exchange for ordinary shares.
2 Purchased
Nadine Karo land for $40,000. The price consists of land $15,000; building
$20,000 and Equipment $5,000. (Make one compound entry).
4 Paying
advertising expenses of $10,000.
7 Paid
Cash $1,500 for a one year insurance police.
10 Purchased
Golf equipment for $3,000 from Ketut Sport, Payable in 30 days.
18 received
golf fees of $2,800 in cash.
23 Declared
and paid a $1,000 cash dividend.
25 paid
wages of $700
28 Paid
Ketut Sport in full.
28 Received
$1,000 of fees in cash.
Intructions
Journalize the February Transactions. (Provide explanations for the journal entries)
Answer
:
Date
|
Description
|
Debet
|
Credit
|
Feb 1
|
Cash
|
$60,000
|
|
Share Capital - Ordinary
|
60,000
|
||
2
|
Land
|
15,000
|
|
Building
|
20,000
|
||
Equipment
|
5,000
|
||
Cash
|
40,000
|
||
4
|
Advertising Expense
|
10,000
|
|
Cash
|
10,000
|
||
7
|
Prepaid Insurance
|
1,500
|
|
Cash
|
1,5000
|
||
10
|
Equipment
|
3,000
|
|
Account Payable
|
3,000
|
||
18
|
Cash
|
2,800
|
|
Service Revenue
|
2,800
|
||
23
|
Dividends
|
1,000
|
|
Cash
|
1,000
|
||
25
|
Wages Expanse
|
700
|
|
Cash
|
700
|
||
28
|
Account payable
|
3,000
|
|
Cash
|
3,000
|
||
28
|
Cash
|
1,000
|
|
Service Revenue
|
1,000
|
yang tanggal 28. Paid Ketut Sport in full.
ReplyDeleteapa gak kebalik jurnalnya ?
@kalong : gk itu sdh pas krna pda tnggal 10 ketut berhutang dan di tanggal 28 dibayar.
Deletekebalik gan itu, ntar di akhir utangnya jd 6000 dong malah
Delete