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1. You own a 200 in Lefke. Regular visitors of the zoo pay in advace. Advance payments are credited to an account entitled Unearned Admissions
1. You own a 200 in Lefke. Regular visitors of the zoo pay in advace. Advance payments are credited to an account entitled Unearned Admissions Revenue. Most guests pay at the entrance and the amounts collected are credited to Admissions Revenue. The following information is available as a source for preparing the adjusting entries at December 31, 2020 (only for the month of December). Bear in mind that adjusting entreis have already been made for the first 11 months of 2020, but not for December. USE ONLY the following account names. Please Do not make up your account names www Accounts Payable Concessions Revenue Receivable Accounts Receivable Prepaid Advertising Accumulated Depreciation Depreciation Expense Admissions Revenue Prepaid Rent Advertising Expense Income Taxes Expense Animal Food Supplies Expense Income Taxes Payable Concessions Revenue Salaries Payable Insurance Expense Interest Expense Bus Rental Expense Interest Payable Painting Expense Rent Expense Unexpired Insurance Animal Food Supplies Salaries Expense Unearned Admissions Revenue Water Expense w WMV 2. A painter came and painted the zoo for $1100 on the 3rd of December, 2020. The zoo will pay the painter on the 15th of January, 2021. Show calculations where necessary (7 points) Calculations: Date Debit Db Cr 14. The zoo has already paid $ 1500 for numerous advertisements in the Facebook. 1/3 of these advertisements have appeared as of December, 2020. Show calculations where necessary. 16 points) Calculations: Date Debit Credit Db Cr 15. On September 1, 2020, the company borrowed $9000, by signing a 9-month, 7% note payable. The entire not plus nine months accrued interest is due on June 1, 2021. Show calculations where necessary. (9 points) a) Calculations: Date Debit Credit Db Cr
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