Exercise 317 Windsor Miniature Golf and Driving Range Inc wa

Exercise 3-17 Windsor Miniature Golf and Driving Range Inc. was opened on March 1 by Scott Verplank. The following selected events and transactions occurred during March Mar. 1 Invested $52,800 cash in the business in exchange for common stock. 3 Purchased Michelle Wie\'s Golf Land for $38,160 cash. The price consists of land $9,810, building $22,120, and equipment $6,230. (Make one compound entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of $1,603. 6 Paid cash $1,422 for a one-year insurance policy. 10 Purchased golf equipment for $2,710 from Singh Company, payable in 30 days. 18 Received golf fees of $1,278 in cash 25 Declared and paid a $510 cash dividend. 30 Paid wages of $906 30 Paid Singh Company in full. 31 Received $770 of fees in cash. Windsor uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Common Stock, Dividends, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Journalize the March transactions. (Use Service Revenue account to record fees.) (Credit a automatically indented when amount is entered. Do not indent manually. If no entry is required, select \"No entry\" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) ccount titles are

Solution

1-Mar Cash 52800       Common Stock 52800 3-Mar Land 9810 Building 22120 Equipment 6230         Cash 38160 5-Mar Advertising expense 1603         Cash 1603 6-Mar Prepaid insurance 1422         Cash 1422 10-Mar Equipment 2710         Accounts Payable 2710 18-Mar Cash 1278       Service revenue 1278 25-Mar Dividends 510         Cash 510 30-Mar Salaries and wages expense 906         Cash 906 30-Mar Accounts Payable 2710         Cash 2710 31-Mar Cash 770       Service revenue 770