ACCT $215-$ Intermediate Financial Accounting $1$

Assignment #$1$

Name:

Fantasyland Adventures Company owns and operates a small amusement park in Alberta. Following

$48$ marks is the unadjusted trial balance for Fantasyland as of its year end date:

Fantasyland Adventures Company

Unadjusted Trial Balance

May $31,2023$

The following information concerns the adjusting entries to be recorded as of May $31,2023$ for

Fantasyland Adventures Company:

i$)$ According to a count, the cost of merchandise inventory on hand on May $31,2023$ is the

following amount:

Inventory on hand at year end:

$$,4,415$

ii$)$ The following amount of supplies are unused as of May $31,2023$:

Supplies on hand at year end:

$ $217$

iii$)$ On March $28,2023,$ a cheque was issued for a $1-$year insurance policy effective April $1,$

The cost of the policy was charged to insurance expense:

Amount of cheque issued March $28,2023$: