Oceanside Cinema closes its accounts each month. At November 30, the trial balance and other information given below and on page 172 were available for adjusting and closing the accounts. LO8 Other data

(a) Advertising expense for the month, $3,750.

(b) Film rental expense for the month, $16,850.

(c) Depreciation expense on building, $350 per month; on projection equipment, $600 per month.

(d) Accrued interest on notes payable, $100.

(e) The company’s share of revenue from concessions for November, as reported by concessionaire, $3,250. Check should be received by December 6.

(f) Salaries earned by employees but not paid, $1,500.

Instructions Prepare a A work sheet for the month ended November 30 b An income statement c A statement of owner’s equity d A balance sheet

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OCEANSIDE CINEMA Trial Balance November 30, 19 Cash Prepaid advertising $ 26,000 6,200 Prepaid film rental. 26,000 Land 30,000 Building 84,000 Accumulated depreciation: building $ 1,750 Projection equipment 36,000 Accumulated depreciation: projection equipment. 3,000 Notes payable 15,000 Accounts payable L. B. Jones, capital L. B. Jones, drawing Revenue from admissions Salaries expense. Light and power 4,400 166,150 4,250 33,950 8,700 3,100 $224,250 $224,250