I only need help with the journal entries and trial balance
Journal Entries: | |||
Date | Account Titles and Explanation | Debit | Credit |
Apr. 2 | Rent Expense | $800 | |
Cash | $800 | ||
(To record the payment of rent expense by cash) | |||
Apr. 3 | No entry is prepared for ordering films | ||
Apr. 9 | Cash | $2,800 | |
Admission Revenue | $2,800 | ||
(To record the receipt of admission revenue) | |||
Apr. 10 | Mortgage Payable | $1,000 | |
Accounts Payable | $1,000 | ||
Cash | $2,000 | ||
(To record the payment for mortgage and settlement for accounts payable) | |||
Apr. 11 | No entry is prepared for entering into contract | ||
Apr. 12 | Advertising Expense | $500 | |
Cash | $500 | ||
(To record the payment of advertising expense by cash) | |||
Apr. 20 | Film rental expense | $1,000 | |
Cash | $1,000 | ||
(To record the payment of film rental expense) | |||
Apr. 25 | Cash | $5,200 | |
Admission Revenue | $5,200 | ||
(To record the receipt of admission revenue) | |||
Apr. 29 | Salaries Expense | $2,000 | |
Cash | $2,000 | ||
(To record the payment of salaries by cash) | |||
Apr. 30 | Cash | $170 | |
Accounts Receivable | $170 | ||
(To record the receipt of cash from accounts receivable) | |||
Apr. 30 | Concession Revenue | $170 | |
Advance Received | $170 | ||
(To record the concession revenue received) | |||
Apr. 30 | Prepaid Expense | $900 | |
Cash | $900 | ||
(To record the prepaid expenses) |
Trial Balance | |||
Particulars | Debit | Credit | |
Cash (see note) | $6,970 | ||
Land | $10,000 | ||
Buildings | $8,000 | ||
Equipment | $6,000 | ||
Accounts Payable ($2,000 - $1,000) | $1,000 | ||
Mortgage Payable ($8,000 - $1,000) | $7,000 | ||
Tony Carpino, Capital | $20,000 | ||
Advance receipt | $170 | ||
Admission Revenue ($5,200 + $2,800) | $8,000 | ||
Advertising Expense | $500 | ||
Film rental expense | $1,000 | ||
Rent Expense | $800 | ||
Salaries Expense | $2,000 | ||
Prepaid Expense | $900 | ||
Total | $36,170 | $36,170 |
Note: | |
Cash - Opening balance | $6,000 |
Less: Apri. 2 | ($800) |
Add: Apri. 9 | $2,800 |
Less: Apr. 10 | ($2,000) |
Less: Apr. 12 | ($500) |
Less: Apr. 20 | ($1,000) |
Add: Apri. 25 | $5,200 |
Less: Apri. 29 | ($2,000) |
Add: Apri. 30 | $170 |
Less: Apri. 30 | ($900) |
Cash - Closing balance | $6,970 |
I only need help with the journal entries and trial balance The Lake Theater is owned...
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