For this blog post, I have created a video in which I walk through the journal entries for five hypothetical transactions at Cedar Point Amusement Park. This video is appropriate for the beginning of an introductory financial accounting course. The transactions covered include: Sell admission to the park; purchase merchandise inventory for the gift shop; […]
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Tag Archives: journal entry
A step-by-step video on how to construct a journal entry
January 18, 2018 
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For this blog post, I have created a video that is a step-by-step guide to constructing a journal entry. The example that I am using in the video to illustrate the journal entry steps is that of Apple selling an iPhone at one of its stores for $1,000 cash. You can view the video (5:35 […]
Continue readingHow will Cedar Point’s assets, liabilities, and equity be impacted by various transactions?
December 29, 2016 0 Comments
Cedar Point is an amusement park in Sandusky, Ohio, owned by Cedar Fair Entertainment Company. Over 3.5 million people visit Cedar Point each year between May and October. It covers 364 acres and has more than 150 rides and attractions, including 16 roller coasters. Cedar Point is the second oldest continuously operating amusement park in […]
Continue readingStudent handout: Four steps to determine what to debit or credit
October 8, 2013 0 Comments
Here is a handy list of questions to help guide students through the thought process involved with determining what to debit or credit in a given transaction. (I also have this list in pdf format for handout purposes.) Step 1: Pick ONE account that is affected by this transaction Step 2: Is this account you […]
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