Windsor Inc was opened on August 1 by Joe Windsor The follow

Windsor, Inc. was opened on August 1 by Joe Windsor. The following selected events and transactions occurred during August.

August 1. invested $51,000 cash in the business in exchange for common stock.

            3. Purchased O\'Brian\'s Tree Service for $45,200 cash. The price consist of
                land $27,000, building $15,000, and equipment $3200. ( Make one.                       
                 compound entry).

            5. Advertised the opening of the business, paying advertising expense        
                $1200.

            6   Paid cash $1480 for a one year insurance policy.
   
            10 Purchased equipment for $2300 from Wildhorse company, payable
                 in 30 days.
             18 Received fees for services of $1800 in cash.
             25 Declared and paid a $700 cash dividend.
             30 Paid wages of $1300.
             30. Paid Wildhorse company in full.
             31. Received $500 of fees in cash.

Windsor uses the following accounts: cash, prepaid insurance, land, building, equipment, accounts payable, common stock, dividends, service revenue, advertising expense, and salaries and wages expense.

Journalist the August transaction. ( if no entry is required, select \"no entry\" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem).

Date.       Account. titles and explanation.              Debit.        Credit
Aug 1        (has 2 place for entries)

Aug 3.      (has 4 places for entries)

Aug 5.      (has 2 places for entries)

Aug 6.       (has 2 places for entries)

Aug 10.     (2 places)

Aug 18.     (2 places)

Aug 25.     (2 places)

Aug 30.      (2 places)

Aug 30.      (2 places)

Aug 31.      (2 places)

thank you!!!!

Solution

Date Account titles and explanation Debit Credit August 1 Cash 51000 To common stock 51000 3 land $27,000 building $15,000 equipment $3200 To Cash $45,200 5 advertising expense $1200 To cash $1200 6 prepaid insurance $1480    To cash $1480 10 equipment $2300 To accounts payable $2300 18 Cash $1800 To service revenue $1800 25 dividends $700 To cash $700 30 salaries and wages expense $1300 To cash $1300 30 accounts payable $2300 To cash $2300 31 cash $500 To service revenue $500