June 1 Bird invested cash in the business, $10,000. 1 Purchased basketballs and other athletic equipment, $3,000. 2 Paid Hite Advertising for flyers that had been mailed to prospective campers, $5,000. 2 Collected registration fees, $15,000. 2 Rogers Construction completed work on a new basketball court that cost $12,000. Arrangements were made to pay the bill in July. 5 Purchased office supplies on account from Gordon Office Supplies, $300. 6 Received bill from Magic’s Restaurant for meals served to campers on account, $5,800. 7 Collected registration fees, $16,200. 10 Paid wages to camp counselors, $500. 14 Collected registration fees, $13,500. 14 Received bill from Magic’s Restaurant for meals served to campers on account, $6,200. 17 Paid wages to camp counselors, $500. 18 Paid postage, $85. 21 Collected registration fees, $15,200. 22 Received bill from Magic’s Restaurant for meals served to campers on account, $6,500. 24 Paid wages to camp counselors, $500. 28 Collected registration fees, $14,000. 30 Received bill from Magic’s Restaurant for meals served to campers on account, $7,200. 30 Paid wages to camp counselors, $500. 30 Paid Magic’s Restaurant on account, $25,700. 30 Paid utility bill, $500. 30 Paid phone bill, $120. 30 Bird withdrew cash for personal use, $2,000. Required: 1. Enter the transactions in a general journal. Use the following journal pages: June 1–6, page 1; June 7–22, page 2; June 24–30, page 3. 2. Post the entries to the general ledger. 3. Prepare a trial balance.

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 2EB: Johnson, Incorporated had the following transactions during the year: Purchased a building for...

Related questions

Question

June 1	Bird invested cash in the business, $10,000.
1	Purchased basketballs and other athletic equipment, $3,000.
2	Paid Hite Advertising for flyers that had been mailed to prospective campers, $5,000.
2	Collected registration fees, $15,000.
2	Rogers Construction completed work on a new basketball court that cost $12,000. Arrangements were made to pay the bill in July.
5	Purchased office supplies on account from Gordon Office Supplies, $300.
6	Received bill from Magic’s Restaurant for meals served to campers on account, $5,800.
7	Collected registration fees, $16,200.
10	Paid wages to camp counselors, $500.
14	Collected registration fees, $13,500.
14	Received bill from Magic’s Restaurant for meals served to campers on account, $6,200.
17	Paid wages to camp counselors, $500.
18	Paid postage, $85.
21	Collected registration fees, $15,200.
22	Received bill from Magic’s Restaurant for meals served to campers on account, $6,500.
24	Paid wages to camp counselors, $500.
28	Collected registration fees, $14,000.
30	Received bill from Magic’s Restaurant for meals served to campers on account, $7,200.
30	Paid wages to camp counselors, $500.
30	Paid Magic’s Restaurant on account, $25,700.
30	Paid utility bill, $500.
30	Paid phone bill, $120.
30	Bird withdrew cash for personal use, $2,000.

Required:

1.	Enter the transactions in a general journal. Use the following journal pages: June 1–6, page 1; June 7–22, page 2; June 24–30, page 3.
2.	Post the entries to the general ledger.
3.	Prepare a trial balance.

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