acy1111-ch2

acy1111-ch2 - {a 3 03 Cash Date Mar 1 2 0 10 12 20 20 31 31...

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Unformatted text preview: {a} 3-: 03} Cash Date Mar. 1 2 0 10 12 20 20 31 31 31 Explanation Balance Accounts Receivable Bate Explanation Mar. 51 Land Bate Explanation Mar. 1 Balance Buildings Date Explanation Mar. 1 Balance Equipment Bate Explanation Mar. 1 Balance PROBLEM 2-40. Ref. J1 J1 J1 J1 J1 J1 J1 J1 J1 Ref. J1 Ref. Ref. Ref. Debit 5,500 T200 400 11,000 Debit 400 Debit Debit Debit Cred it 3,000 T,000 300 3,000 4,300 Cred it Cred it Cred it Cred it N o. 101 Balance 15,000 13,000 10,500 12,500 11,?00 15,000 15,000 11,100 11,500 22,500 hie-.112 Balance 400 No.1le Balance 42,000 hie-.145 Balance 15,000 No.15? Balance 15,000 PROBLEM 2-4A {Continued} Accounts Payable No. 201 Date Explanation Ref. Debit Credit Balance Mar. 1 Balance v” 12,000 2 J1 3,000 15,000 10 J1 ?,000 3,000 Common Stock No. 311 Date Explanation Ref. Debit Credit Balance Mar. 1 Balance v” 80,000 Admission Revenue No. 405 Date Explanation Ref. Debit Credit Balance Mar. 9 J1 5,500 5,500 20 J1 ?,200 13,700 31 J1 11,000 24,700 Concession Revenue No. 406 Date Explanation Ref. Debit Credit Balance Mar.31 J1 300 300 Advertising Expense No. 610 Date Explanation Ref. Debit Credit Balance Mar.12 J1 800 800 Film Rental Expense No. 532 Date Explanation Ref. Debit Credit Balance Mar. 2 J1 0,000 5,000 20 J1 3,000 0,000 PROBLEM 2-4A {Continued} Salaries Expense No. 726 Date Explanation Ref. Debit Credit Balance Mar. 31 J1 4,300 4,300 00 J1 Date Account Titles and Explanation Ref. Debit Credit Mar. 2 Film Rental Expense .......................... .. 632 6,000 Accounts Payable ..................... .. 201 3,000 Cash ........................................... .. 101 3,000 (Rented films for cash and on account} 3 No entry. 0 Cash .................................................... .. 101 6,500 Admission Revenue .................. .. 405 6,500 (Received cash for services provided} 10 Accounts Payable [$3,000 + $4,000) 201 7,000 Cash ........................................... .. 101 7,000 (Paid creditors on account} 11 No entry. 12 Advertising Expense .......................... .. 610 800 Cash ........................................... .. 101 800 (Paid advertising expense} 20 Cash .................................................... .. 101 7,200 Admission Revenue .................. .. 405 7,200 (Received cash for services provided} 20 Film Rental Expense .......................... .. 632 3,000 Cash ........................................... .. 101 3,000 (Paid film rental} PROBLEM 2-4A {Continued} W Mar.31 Salaries Expense ................................ .. 720 4,800 Cash ............................................ .. 101 4,800 (Paid salaries expense} 31 Cash ..................................................... .. 101 400 Accounts Receivable .......................... .. 112 400 Concession Revenue ................ .. 400 800 [10% X $8,000] (Received cash and balance on account for concession revenue] 31 Cash ..................................................... .. 101 11,000 Admission Revenue .................. .. 405 11,000 (Received cash for services provided} {d} QUINN THEATER Trial Balance March 31, 2008 Debit Credit Cash ................................................................ .. $ 22,500 Accounts Receivable ..................................... .. 400 Land ................................................................ .. 42,000 Buildings ........................................................ .. 18,000 Equipment ...................................................... .. 16,000 Accounts Payable .......................................... .. 8 8,000 Common Stock .............................................. .. 80,000 Admission Revenue ...................................... .. 24,?00 Concession Revenue .................................... .. 800 Advertising Expense ..................................... .. 800 Film Rental Expense ...................................... .. 9,000 Salaries Expense ........................................... .. 4,800 $113,500 $113,500 ...
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This note was uploaded on 11/14/2011 for the course ACCT 124 taught by Professor Klein during the Fall '10 term at UCLA.

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acy1111-ch2 - {a 3 03 Cash Date Mar 1 2 0 10 12 20 20 31 31...

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