Template bus fp3061 fundamentals of accountinginstructi

1. TemplateBUS-FP3061 Fundamentals of Accounting
Instructions
Please leave an empty row at the end of each transaction before
continuing on to the next one.
Trans. #
Accounts
Debit
Credit

9. Capella Proprietary and Confidential
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Capella Proprietary and Confidential
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TitleBUS-FP3061 Fundamentals of Accounting
Capella Proprietary and Confidential
ShortDoc_Internal.doc
Last updated: 2/25/2015 9:16 AM
1
Capella Proprietary and Confidential
ShortDoc_Internal.doc
Last updated: 2/25/2015 9:16 AM

10. 2
TemplateBUS-FP3061 – Fundamentals of Accounting
Instructions
Accounts to be used:
· Cash.
· Prepaid insurance.
· Land.
· Buildings.
· Equipment.
· Accounts payable.
· Unearned service revenue.
· Owner's capital.
· Owner's drawings.
· Service revenue.
· Advertising expense.
· Salaries and wages expense.

11. Leave a space between each dated transaction.
May 1
Invested $20,000 cash in the golf course business.
May 3
Purchased Hampstead Golf Land for $15,000 cash. The price
includes land $12,000, shed $2,000, and equipment $1,000.
May 5
Paid advertising expenses of $700.
May 6
Paid cash $600 for a one-year insurance policy.
May 10
Purchased golf discs and other equipment for $1,050 from Discs
Are Us, payable in 30 days.
May 18
Received $1,100 in cash for golf fees earned (service revenue).
May 19
Sold 150 coupon books for $10 each. Each book contains four
coupons that enable the holder to play one round of disc golf.
May 25
Withdrew $800 cash for personal use.
May 30
Pay $250 as salaries for part-time employees.
May 30
Paid Discs Are Us the full amount due.
May 31
Received $2,100 cash for fees earned.
Date
Accounts
Debit
Credit

17. Capella Proprietary and Confidential
ShortDoc_Internal.doc
Last updated: 2/25/2015 9:16 AM
1
Capella Proprietary and Confidential
ShortDoc_Internal.doc
Last updated: 2/25/2015 9:16 AM
3