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1. You own a zoo in Lefke. Regular visitors of the zoo pay in advace. Advance payments are credited to an account entitled Unearned Admissions
1. You own a zoo 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 Accounts Payable Concessions Revenue Receivable Interest Payable Accounts Receivable Prepaid Advertising Painting Expense Accumulated Depreciation Depreciation Expense Rent Expense Admissions Revenue Prepaid Rent Unexpired Insurance Advertising Expense Income Taxes Expense Animal Food Supplies Animal Food Supplies Expense Income Taxes Payable Salaries Expense Concessions Revenue Salaries Payable Unearned Admissions Revenue Insurance Expense Interest Expense Water Expense Bus Rental Expense 11. The 200 signed a contract with the local primary schools of Gzelyurt and Lefke. Chidren from theses schools will visit the zoo once a year. Show calculations where necessary. (6 points) Calculations: Date Debit Credit Db Cr 12. The zoo receives a 10% of the revenue earned by Kidos Corporation, the concessionaire operating the snack bar. For the snack bar sales in December, 2020 was $1000. Kidos Corporation owes concessions revenue (use concessions revenue account) to the zoo, payable on January 15, 2021. No entry has been made to record this revenue. Show calculations where necessary. (6 points) Calculations: Date Debit Credit Db Cr 13. A bus to carry children visitors from local primary schools had been rented the second week of December at a daily rate of $15. At December 31, no rental payment has been made, although the 200 has had use of the bus for 16 days. Show calculations where necessary. 16 points) Calculations: Date Debit Credit Db Cr SAAAAAAAA
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