6 7 The following transactions occurred during the month of December 2019: Dec. Paid accounts payable of $6,350. 6 Paid rent of $7,000 in advance. Purchased supplies, $620, on account. Deposited $22,000 of admissions receipts. 9 Uneamed admissions revenue is for gift certificates purchased for admission into future shows. $550 more of these gift certificates were sold to a local restaurant business, for cash 10 Purchased $4,750 of concessions items on credit. 12 Acquired additional equipment worth $24,000 by paying $700 cash and giving a long-term note payable for the balance 14 Paid wages of $20,800 for the period December 1 through 14. 16 Paid for the supplies purchased on December 6. 17 Purchased $8,800 of supplies on credit Sold 400 shares of $10 par value common stock for $10 a share 21 Deposited $19,700 from concessions sales and $11,880 of admissions receipts 24 Paid $2,000 for repaits to roof for weather damage. 25 Purchased $4,050 of concessions items on account 27 Paid for the supplies purchased on December 17 28 Paid wages of $13,600 for the period December 15 through 28. 30 Paid $6,100 to newspaper for advertisements that appeared in December 31 Deposited $20,700 from admissions receipts and $17,240 from concessionist sales. 31 Declared and paid the annual dividend, amounting to $8,800. 19 REQUIREMENTS Please follow these instructions carefully! 1. Prepare journal entries to record the December transactions listed above. 2. Post the December journal entries to the general ledger. 3. Prepare a 6-column worksheet and enter the December 31 uradjusted balances from the general ledger accounts. Also enter adjusting entries for the following items on the worksheet, and complete the worksheet. a. Unpaid wages were $5,210 as of December 31. b. The December 31 concessions inventory was $1,715. c. The supplies inventory was $3,750 on December 31. d. The unexpired portion of the prepaid rent was $3,000 as of December 31. e. Depreciation for the year on the equipment was $12,000. f. Depreciation for the year on the building was $32,200 g. Unpaid utilities expense for December was $2,120, h. Interest expense on the note payable for 2019 was $1,790, to be paid when the note matures. i. Admissions gift certificates still unredeemed at December 31 totaled $3,000 4. Journalize and post the adjusting entries to the getseral ledger. These are the same adjustments that are recorded on the 6- column worksheet 5. Prepare an income statement, statement of retained earnings, and a balance sheet for the year ended December 31, 2019. 6. Journalize and post the closing entries to the general ledger GENERAL JOURNAL - Yani's Motion Theatre DATE ACCOUNT REF DEBIT Dec-05 Accounts payable 111 6350 Cash CREDIT 6350 Dec 6 Prepaid rent Cash 114 7000 7000 Dec 6 620 Supplies inventory Accounts payable 620 Dec7 Cash Admissions revenue 22000 22000 Dec 9 550 Cash Unearned admissions revenue $50 Dec 10 4750 Concessions inventory Accounts payable 4750 Dec 12 24000 Equipment Cash Long term notes payable 700 23300 Dec 14 20800 Wases Cash 20800 Normal No Spac. T Heading 1 T Heading 2 Title a selle Paragraph Styles Editor DATE NOV 30 BALANCE 251,070 GENERAL LEDGER - Yani's Motion Theatre CASH-111 DESCRIPTION DEBIT CREDIT BALANCE Accounts payable 6350 Prepaid rent 7000 Admissions revenue 22000 Unearned admissions revenue 550 Equipment 700 wages expense 20800 620 4000 19700 11880 Accounts payable Common stock Concessions revenue Admissions revenue Mince expense Accounts payable Wages expense Advertising expense Concessions revenue Admissions resume Dividend Endid 2000 8800 13600 6100 17210 20700 S800 347110 347140 o TI 144 4 5 5 6 7 00 9 Paragraph Styles DESCRIPTION WORKSHEET UNADJUSTED ADJUSTMENTS TRIAL BALANCE DEBIT CREDIT DERIT CREDIT 272370 19500 17980 14230 20550 17550 287540 123380 12000 ADJUSTED TRIAL BALANCE DERIT CREDIT 272370 19500 3750 3000 287540 135380 421700 421700 Cash Concessions Inventory Supplies Inventory Prepand Rent Equipment Accumulated Depreciation, Equipment Building Accumulated Depreciation Building Accounts Payable Wages Payable Utilities Pavable Testerest Payable Unnamed Admissions Rruenue Long-Term Notes Payable Common Stock Red Earn 121790 32200 153990 23850 5210 2120 1790 238.50 $210 2120 1790 3000 1120 1120 68399 77920 287350 68590 278.20 O co Q 40 & 5 4 5 CO 7 8 9 R C