Question

The Splish Brothers Theater will begin operations in March. The Splish Brothers will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Splish Brothers showed No. 101 Cash W2,820, No. 140 Land W22,560, No. 145 Buildings (concession stand, projection oth, and screen) W9,400, No. 157 Equipment W9,400, No. 201 Accounts Payable W6,580, and No. 311 Share Capital-Ordinary W37,600. During the month of March, the following events and transactions occurred (amounts in thousands). Mar.2 Rented the three Kung Fu Panda movies to be shown for the first 3 weeks of March. The film rental was W3,290; W1,410 was paid in cash and W1,880 3 Ordered three Batman movies to be shown the last 10 days of March. It will cost W188 per night. 9 Received W4,042 cash from admissions. 10 Paid balance due on Kung Fu Panda movies rental and W1,974 on March 1 accounts payable. 11 Splish Brothers Theater contracted with So Bin to operate the concession stand. Bin is to pay 15% of gross concession receipts, payable monthly, for t| 12 Paid advertising expenses W846. 20 Received W4,700 cash from customers for admissions. 20 Received the Batman movies and paid the rental fee of W1,880. 31 Paid salaries of W2,914. 31 Received statement from So Bin showing gross receipts from concessions of W4,600 and the balance due to Starr Theater of W690 (W4,600 x 15%) f balance due and will remit the remainder on April 5. 31 Received W8,460 cash from customers for admissions. In addition to the accounts identified above, the chart of accounts includes No. 112 Accounts Receivable, No. 400 Service Revenue, No. 429 Rent Revenue, No. 610 Advertising Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.

Answer 1

Answer:

Rent expense Mar.02 W3290 Cash W1410 Account payable 1,880 No entry Mar.03 Cash Mar.09 4,042 Service revenue 4,042 Account payable Mar.10 3,854 Cash 3,854 No entry Mar.11 Mar.12 Advertising expense 846 Cash 846 Cash Mar.20 4,700 Service revenue 4,700 Rent expense Mar.20 1,880 Cash 1,880 Salaries and wages expense Mar.31 2,914 Cash 2,914 Cash Mar.31 345 Account receivable 345 Rent revenue 690 Cash Mar.31 8,460 Service revenue 8,460

GENERAL LEDGER Account Payable Cash Land Account No. 101 Account No. 140 Account No. 201 Credit Balance Balance Balance Debit Credit Debit Debit Credit Date Date Date 22,560 Mar.01 6,580 Mar.01 2,820 Mar.01 Mar.02 1,410 8,460 1,410 Mar.02 1,880 4,042 Account No. 157 3,854 4,606 Mar.09 5,452 Equipment Debit Mar.10 Balance 9,400 3,854 Credit Mar.10 1,598 Date Mar.12 Service revenue Account No. 400 846 752 Mar.01 Credit Mar.20 Debit Balance 4,700 5,452 Date Mar.20 Mar.09 4,042 8,742 1,880 3,572 Rent revenue Account No. 429 4,042 Balance Debit Credit Mar.20 4,700 Mar.31 2,914 658 Date Mar.31 Mar.31 8,460 345 1,003 Mar.31 690 690 17,202 8,460 9,463 Mar.31 Advertising expense Building Account No. 112 Account No. 145 Account receivable Account No. 610 Balance Debit Credit Balance Debit Credit Balance Debit Credit Date Date Date 2$ Mar.01 Mar.12 9,400 Mar.31 345 345 846 846 Share capital-ordinary Salaries and wages expense Rent expense Account No. 311 Account No. 729 Account No. 726 Balance Debit Balance Credit Debit Credit Debit Credit Balance Date Date Date Mar.01 Mar.02 3,290 37,600 Mar.31 2,914 2,914 3,290 1,880 5,170 Mar.20

SPLISH BROTHERS THEATRE Trial Balance For the monthe ended March 31 Debit Credit Account Name W9463 Cash Land Account payable 22,560 W4606 Equipment 9,400 Rent revenue 690 Service revenue 17,202 Building 9,400 Account receivable 345 Advertising expense Share capital-ordinary Salaries and wages expense 846 37,600 2,914 Rent expense 5,170 Totals W60098 86009AA