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2. At March 31, 2019, account balances after adjustments for Maddux Cinema are as follows: Accounts Cash.............................................................................. $ 6,000 Concession supplies....................................................... 4,000 Theatre equipment.........................................................50,000 Accumulated
2. At March 31, 2019, account balances after adjustments for Maddux Cinema are as follows: Accounts Cash.............................................................................. $ 6,000 Concession supplies....................................................... 4,000 Theatre equipment.........................................................50,000 Accumulated depreciationtheatre Euipment......12,000 Accounts payable................................................................ 5,000 N. Maddux, capital............................................................ 20,000 N. Maddux, drawings....................................................12,000 Admission ticket revenues............................................ 60,000 Popcorn revenues......................................................... 37,000 Candy revenues...............................................................19,000 Advertising expense........................................................ 12,000 Concession supplies expense...................................... 19,000 Depreciation expense....................................................... 4,000 Film rental expense......................................................... 16,000 Rent expense.........................................................................12,000 Salaries expense.................................................................... 13,000 Utilities expense...................................................................... 5,000 Instructions a. Prepare the closing journal entries for Maddux Cinema in the table provided on the next page. Show all the accounts being adjusted for each or revenue, expenses and equity section (8 marks) Account Debit Credit Revenue Expenses Equity
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