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öster started Trenton Park Corporation on June 1. The selected t The The company uses the following accounts: Cash, Prepaid Insuran Admissions, Common Stock. Dividends, Admission Revenue, Ac 1. Stockholders invested $60.000 cash in the business in exchang 2. Purchase land for cash costing $30,000 3. Incurred advertising expense for $1,800 on account. 4. Paid $3,000 for a 1-year insurance policy 5. Paid $600 for cash dividends 5. Received $7,900 in cash admission fees. 7. Paid $700

öster started Trenton Park Corporation on June 1. The selected t The The company uses the following accounts: Cash, Prepaid Insuran Admissions, Common Stock. Dividends, Admission Revenue, Ac 1. Stockholders invested $60.000 cash in the business in exchang 2. Purchase land for cash costing $30,000 3. Incurred advertising expense for $1,800 on account. 4. Paid $3,000 for a 1-year insurance policy 5. Paid $600 for cash dividends 5. Received $7,900 in cash admission fees. 7. Paid $700

Financial Reporting, Financial Statement Analysis and Valuation
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter2: Asset And Liability Valuation And Income Recognition
Section: Chapter Questions
Problem 20PC: Analyzing Transactions. Using the analytical framework, indicate the effect of the following related...
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Admissions, Common Stock, Dividends, Admission Revenue, Advertising Expense, and Salaries Expense. The company uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Foster started Trenton Park Corporation on June 1. The selected transactions given below occurred during June. 1. Stockholders invested $60.000 cash in the business in exchange for common stock. 2. Purchase land for cash costing $30,000 3. Incurred advertising expense for $1,800 on account. 4. Paid $3,000 for a 1-year insurance policy 5. Paid $600 for cash dividends 6. Received $7,900 in cash admission fees. 7. Paid $700 on account for advertising incurred in transaction 3. Journalize the transactions. Explanations are not required. Credit Debit Account Titles 1.
Transcribed Image Text:Admissions, Common Stock, Dividends, Admission Revenue, Advertising Expense, and Salaries Expense. The company uses the following accounts: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Foster started Trenton Park Corporation on June 1. The selected transactions given below occurred during June. 1. Stockholders invested $60.000 cash in the business in exchange for common stock. 2. Purchase land for cash costing $30,000 3. Incurred advertising expense for $1,800 on account. 4. Paid $3,000 for a 1-year insurance policy 5. Paid $600 for cash dividends 6. Received $7,900 in cash admission fees. 7. Paid $700 on account for advertising incurred in transaction 3. Journalize the transactions. Explanations are not required. Credit Debit Account Titles 1.
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