Apr. 1 Stockholders invested $51,600 cash in the business in exchange for common stock.4 Purchased land costing $29,000 for cash.8 Incurred advertising expense of $1,700 on account.11 Paid salaries to employees $1,580.12 Hired park manager at a salary of $3,400 per month, effective May 1.13 Paid $1,340 cash for a one—year insurance policy.17 Declared and paid a $1,830 cash dividend.20 Received $6,700 in cash for admission fees.25 Sold 134 coupon books for $59 each. Each book contains 10 coupons that entitle the holder to one admission to the park.30 Received $9,400 in cash admission fees.30 Paid $890 on balance owed for advertising incurred on April 8.

We have to journalize these transactions.

Explanation:

Date    Account                          Debit              Credit

04/01  Cash                               $51,600

           Common Stock                                     $51,600

04/04  Land                               $29,000

           Cash                                                       $29,000

04/08  Advertising Expense     $1,700

           Accounts Payable                                  $1,700

04/11  Wages Expense              $1,580.12

          Cash                                                         $1,580.12

04/12  Wages Expense              $3,400

          Accrued Wages                                       $3,400

04/13  Pre-Paid Insurance          $1,340

          Cash                                                         $1,340

04/17  Dividends Payable           $1,830

          Cash                                                         $1,830

04/20 Cash                                  $6,700

           Revenue                                                  $6,700

04/25 Cash                                  $7,906

           Revenue                                                  $7,906

04/30 Cash                                  $9,400

          Revenue                                                    $9,400

04/30 Cash                                                          $890

          Accounts Payable            $890                            

typically a loft will include modern kitchen and bathrooms, this increases the price tag. lofts also have a good amount of open space, this requires more heating and electricity. lofts are also in older buildings, this means that maintaining the location increases the bill. keep in mind this is without talking about the high state and property taxes.

i hope this you! : )