Question

For each of the following Independent situations, prepare Journal entries to record the Initial transaction on September 30 and the adjustment required on October 31. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) a. Hockey Helpers paid $4,000 cash on September 30 to rent an arena for the months of October and November b. Super Stage Shows received $16.000 on September 30 for season tickets that admit patrons to a theatre event that will be held twice (on October 31 and November 30). c. Risky Ventures paid $3,000 on September 30 for Insurance coverage for the months of October, November, and December View transaction lat Journal entry worksheet 2 3 4 5 6 Record the payment of $4,000 cash on September 30 to rent an arena for the months of October and November Note: Enter debits before credits Date General Journal Debit Credit Seot 30 Record entry Clear entry View general Journal

Answer 1

Journal entry

No	Date	General Journal	Debit	Credit
1	Sep 30	prepaid rent	4000
		Cash		4000
		(To record rent paid)
2	Oct 31	Rent expense	2000
		Prepaid rent		2000
		(To record rent adjusted)
3	Sep 30	Cash	16000
		Unearned ticket revenue		16000
		(To record cash received)
4	Oct 31	Unearned ticket revenue (16000/2)	8000
		Ticket revenue		8000
		(To record ticket revenue)
5	Sep 30	Prepaid insurance	3000
		Cash		3000
		(To record insurance paid)
6	Oct 31	Insurance expense	1000
		Prepaid insurance		1000
		(To record insurance)