During the current year, the Jordan family trust, an inter vivos trust, has business income of $220,000. Of this amount, $50,000 is retained in the trust with a joint election….
Solve the problem below according equication
Invested $20000 cash in a business .Purchased rainbow golf land for $15000 cash. The price consists of land $12000, shed $ 2,000, and equipment $1000.(make one compound entry)Paid advertising experience of $900.Paid cash $600 for a one year insurance policy .Purchased golf discs and other equipment for $1,050 from stevenson company payable in 30days.Received $1100 in cash for golf fees (record as service revenue )Sold 150 coupon books for $10 each . each book contains 4 coupon that enable the holder to play one round of disc golf.Withdrew $800 cash for personal use.Paid salaries of $250.Paid stevenson company in full.Received $2700 cash for golf fees.Solve according equication