Question

I need help with step 5,6,7, please ?

15%60-900 Page 2 GENERAL JOURNAL Tagolt golo HOL cash tickets Revende 1660 1652 Account Payable Cash 90 Account necunibe Ticket nevenue 13 nowing expense 23 са 1345 Cash account nechua Sep 25 wages expen cash m. Lapinski withclantas cash

Answer 1

From the information given above, I have solved 5,6,7 that is Adjusting entries, Trial Balance, Income Statement, Statement of Equity changes and Balance Sheet.

Dr 36 Date Particulars 30, Sept Depreciation expense Accumulated Depreciation- Equipment (given in the problem) 12 30, Sept Depreciation expense Accumulated Depreciation- Sign (given in the problem) 12 10 1 Blue Raider Adventure Park (BRAP) 2. 3 Adjusting entries 4 5 Date Particulars Dr Cr 6 30, Sept Insurance expense 165 To Prepaid Insurance 165 (General liability insurance $660 for 4 months 9 From 1. Sept to 31, Dec for Sept month=660*1/4=165) 11 12 30, Sept Interest expense 100 13 To Interest Payable 100 14 (Loan of $10000 at 6% borrowed on1, August 15 For Aug &sept= 10000*6%=600*2/12=100) 16 17 30, Sept Supplies expense 288 18 To Supplies 288 19 (On sept 7, purchased Less:Closing balance 132 Supplies expense 288 100 100 30, Sept Depreciation expense Accumulated Depreciation- Activity Courses (given in the problem) 150 30, Sept Wages expense To Wages payable (given in the problem) 150 420

Blue Raider Adventure Park (BRAP) Dr 1135 7675 2100 650 5650 132 148 36 12 Trial Balance Account Cash Bank Equipemnt Sign Activity Courses Supplies Depreciation expense Accumulated Depreciation-Equipment Accumulated Depreciation-Sign Accumulated Depreciation Activity Courses Accounts Receivable Prepaid Insurance Accounts Payable Note Payable Owner's Capital Drawings Tickets Revenue Unearned Tickets Revenue Advertisement expense Mowing Expense Wages expense 100 665 495 420 10000 7000 700 2565 360 250 60 530

250 60 530 Advertisement expense Mowing Expense Wages expense Insurance expense Interest expense Interest Payable Supplies expense Wages payable Total 165 100 100 288 150 20743 20743

Blue Raider Adventure Park (BRAP) Blue Raider Adventure Park (BRAP) Income Statement Particulars Tickets Revenue Amount Amount Amount Statement of Owner's Equity Particulars Owner's Equity Investment as on 1, August Add: Net Income 2565 7000 1024 250 8024 700 60 530 Less: Drawings Owner's Equity as on 30 September 7324 Less: Expenses Advertisement expense Mowing Expense Wages expense Insurance expense Interest expense Supplies expense Depreciation expense Net Income 165 100 288 148 1541 1024

AA Amount Amount 1135 Blue Raider Adventure Park (BRAP) Balance Sheet as on 30, September Assets Current Assets Cash Bank Supplies Accounts Receivable Prepaid Insurance Total Current Assets 7675 132 665 495 10102 2100 2064 36 650 Non-Current Assets Equipemnt Accumulated Depreciation-Equipment Sign Accumulated Depreciation-Sign Activity Courses Accumulated Depreciation Activity Courses Total Assets 12 638 5650 100 5550 18354

Liabilities Amount Amount 420 150 100 Current Liabilities Accounts Payable Wages payable Interest Payable Unearned Tickets Revenue Total Current Liabilities Note Payable Owner's Equity Total Liabilities and Owner's 360 1030 10000 7324 18354