Assets

• 111Cash

• 112Accounts Receivable

• 114Prepaid Insurance

• 121Land

• 122Building

• 123Accumulated Depreciation, Building

• 124Pool/Slide Facility

• 125Accumulated Depreciation, Pool/Slide Facility

• 126Pool Furniture

• 127Accumulated Depreciation, Pool Furniture

Liabilities

• 221Accounts Payable

• 222Wages Payable

• 223Mortgage Payable

Owners Equity

• 311L. Judar, Capital

• 312L. Judar, Drawing

• 313Income Summary

Revenue

• 411Income from Services

• 412Concessions Income

Expenses

• 511Pool Maintenance Expense

• 512Wages Expense

• 513Advertising Expense

• 514Utilities Expense

• 515Interest Expense

• 517Insurance Expense

• 518Depreciation Expense, Building

• 519Depreciation Expense, Pool/Slide Facility

• 520Depreciation Expense, Pool Furniture

• 522Miscellaneous Expense

You are to record transactions in a two-column general journal. Assume that the fiscal period is one month. You will then be able to complete all of the steps in the accounting cycle.

When you are analyzing the transactions, think them through by visualizing the T accounts or by writing them down on scratch paper. For unfamiliar types of transactions, specific instructions for recording them are included. However, reason them out for yourself as well. Check off each transaction as it is recorded.

July	1	Judar deposited $135,000 in a bank account for the purpose of buying Blast Off! The business is a recreation area offering three large waterslides (called tubes)one childrens slide, an inner tube run, and a looping extreme slide.
	2	Bought Blast Off! in its entirety for a total price of $540,800. The assets include pool furniture, $3,800; the pool/slide facility (includes filter system, pools, pump, and slides), $148,800; building, $96,200; and land, $292,000. Paid $120,000 down and signed a mortgage note for the remainder.
	2	Received and paid the bill for a one-year premium for insurance, $12,240.
	2	Bought 125 inner tubes from Worn Tires for $1,225, paying $500 down, with the remainder due in 20 days.
	3	Signed a contract with a video game company to lease space for video games and to provide a food concession. The rental income agreed upon is 10 percent of the revenues generated from the machines and food, with the estimated monthly rental income paid in advance. Received cash payment for July, $250.
	5	Received bills totaling $1,320 for the grand opening/Fourth of July party. The bill from Party Rentals for the promotional handouts, balloons, decorations, and prizes was $620, and the newspaper advertising bills from the City Star were $700.
	6	Signed a one-year contract for the pool maintenance with All-Around Maintenance and paid the maintenance fee for July of $1,600.
	6	Paid cash for employee picnic food and beverages, $128. (Miscellaneous Expense.)
	7	Received $12,086 in cash as income for the use of the facilities.
	9	Bought parts to repair the filter system on account from Arlens Pool Supply, $646.
	14	Received $10,445 in cash as income for the use of the facilities.
	15	Paid wages to employees for the period ended July 14, $9,460.
	16	Paid $1,150 cash as partial payment on account for promotional expenses recorded on July 5. Party Rentals was paid $620 and City Star was paid the remainder of $530.
	16	Judar withdrew cash for personal use, $2,500.
	17	Bought additional pool furniture from Pool Suppliers for $2,100; payment due in 30 days.
	18	Paid cash to seamstress for alterations and repairs to the character costumes, $328. (Miscellaneous Expense.)
	21	Received $10,330 in cash as income for the use of the facilities.
	21	Paid cash to Worn Tires as partial payment on account, $600.
	23	Received a $225 reduction of our account from Pool Suppliers for lawn chairs received in damaged condition.
	25	Received and paid telephone bill, $292.
	29	Paid wages for the period July 15 through 28 of $8,227.
	31	Received $11,870 in cash as income for the use of the facilities.
	31	Paid cash to Arlens Pool Supply to apply on account, $360.
	31	Received and paid water bill, $684.
	31	Paid cash as an installment payment on the mortgage, $3,890. Of this amount, $1,910 represents a reduction in the principal and the remainder is interest.
	31	Received and paid electric bill, $942.
	31	Bought additional inner tubes from Worn Tires for $480, paying $100 down, with the remainder due in 30 days.
	31	Judar withdrew cash for personal use, $3,200.
	31	Sales for the video and food concessions amounted to $4,840, and 10 percent of $4,840 equals $484. Because you have already recorded $250 as concessions income, record the additional $234 revenue due from the concessionaire. (Cash was not received.)

Accounting Cycle Review Problem A For problem. The journal, ledges, and worksheet and statements are under Enter the appropriate amounts formulas in the shaded gray cells, or select from the Notices should be populated. Antik wil in the column to these come 1.&. GENERAL JOURNAL Description Post. Rat Date Credit Invested cash in bu Bought som Paid one-year premium for instance Received payment for rental space for video games and food concessions Grand opening from Rentals and City Star My payment contract to All Around Maintenance GENERAL JOURNAL Description Post Ret Date Cred Paid for employeepinie Received cash for services de Bought parts on controles Pool Sely 14 Received ca forsendered 15 Paid wages for period Jay Jay 14 16 Paid Party Rentals and cysta Journal Ledger Work Sheet and Statements 15 Paid wages for period We or person Bougou Suppliers GENERAL JOURNAL Description Post Ret Date Debit Credit Pald for constations 21 Received cash or services renden 22 Received and paid hone 31 Received cash or service rendered 31 Poids Pool Spy on account 31 GENERAL JOURNAL Description Post Ret Dute Credit 31 Page 4 GENERAL JOURNAL Description Post. Ret Date Debit Credit Auly 31 Paid installiert on monome 31 Received and paid electric bill 31 Bought inner tubes from Won The 31 Withdrawal for personale 31 Additional revenue from concessions Agusting Entries 31 31 31 31 31 10 Pages Date GENERAL JOURNAL Description Post, Rel. Closing Entries Debit Credit July 31 31 31 31 Verizon 19% 2:01 PM Cycle Review Problem A.xlsx Back GENERAL LEDGER Am 112 Gde B Date 122 Amour 123 Dashboard Calendar To Do Notifications Inbox Verizon 19% 2:01 PM Back Cycle Review Problem A.xlsx De De 20- NY Balance Dee De Accu B De De Balance 09 Dashboard Calendar To Do Notifications Inbox Verizon 2:01 PM 19% Back Cycle Review Problem A.xlsx C wy Ah Balance 13 De Det Gde NY A1412 Balance Daha 512 Ret De O!! Dashboard Calendar To Do Notifications Inbox 19% Verizon 2:01 PM Back Cycle Review Problem A.xlsx Wiebe 12 Dame ASY 18 519 1 NY re 500 19 . Dashboard Calendar To Do Notifications Inbox Work Sheet and Statements Journal Ledger Accounting Cycle Movie Problem Er words from the down Nace e trovate power come great comes Work Sheet For the Month Ended. Adele Add Balance D Account Remate Land LC Lawing honetan Concessions con Portree Wages Atverting Expense 7 BOR BOR Stores For the More Ended July 1, 2 For this problem, the journal, ledger, and work sheet and statements are under separate tabs. Enter the appropriate amounts/formulas in the shaded (gray) cells, or select from the drop-down lists. Not all cells should be populated. An asterisk (*) will appear in the column to the right of an incorrect answer. 1. & 5. Page 1 GENERAL JOURNAL Description Post. Ref. Date Debit Credit 20- July 1 Invested cash in business. 2 Bought Blast Off! 2 Paid one-year premium for insurance. 2 Bought inner tubes from Worn Tires. 3 Received payment for rental space for video games and food concessions. 5 Grand opening expenses from Party Rentals and City Star 6 July payment on contract to All-Around Maintenance. Page 2 GENERAL JOURNAL Description Post. Ref. Debit Credit Date 20- July 6 Paid for employee picnic. 7 Received cash for services rendered. 9 Bought parts on account from Arlen's Pool Supply 14 Received cash for services rendered. 15 Paid wages for period July 1- July 14. 16 Paid Party Rentals and City Star on account 16 Withdrawal for personal use. 17 Bought pool furniture from Pool Suppliers. GENERAL JOURNAL Page 3 Date Description Post. Ref. Debit Credit 20-- July 18 Paid for costume alterations. 21 Received cash for services rendered. 21 Partial payment to Worn Tires. 23 Received allowance from Pool Suppliers for damaged chairs. 25 Received and paid telephone bill. 29 Paid wages for period July 15-July 28. 31 Received cash for services rendered. 31 Paid Arlen's Pool Supply on acco account. 31 Received and paid water bill. Page 4 GENERAL JOURNAL Description Post. Ref. Date Debit Credit 20- July 31 Paid installment on mortgage. 31 Received and paid electric bil.. 31 Bought inner tubes from Worn Tires. 31 Withdrawal for personal use. 31 Additional revenue from concessions. Adjusting Entries 31 31 31 31 31 10. Page 5 Date GENERAL JOURNAL Description Post. Ref. Closing Entries Debit Credit 20-- July 31 31 31 31 For this problem, the journal, ledger, and worksheet and statements are under separate tabs Enter the appropriate amounts formulas in the shaded (gray) cells, or select from the drop-down lists. Not all cells should be populated. An asterisk (*) will appear in the column to the right of an incorrect answer Enter as per the transactions 2. 6. & 11. GENERAL LEDGER Account Cash Account No. 111 Balance Post Ret Date Item Debit Credit Debit Credit 20- July Account Accounts Receivable Account No. 112 Balance Post Ref. Date Item Debit Credit Debit Credit 20- July ACCOUNT Prepaid Inpur noel Account No. 114 Balance Post. Ret Date Item Debit Credit Debit Credit 20- July Account Land Account No. 121 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account Building Account No. 122 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account Accumulated peppeciation Building Account No. 123 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July |Account |Pool/Slide|Fability Account No. 124 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account Accumulaped Depreciation, poolide Fbacility Account No. 125 Balance Post. Ref. Date Debit Credit Debit Credit 20- July Account Pool Furniture Account No. 126 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account Accounts Payable Account No. 221 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account Wages Payable Account No. 1222 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account Mortgage payable Account No. 1223 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account L. Judar, apkal Account No. 311 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account L. Judar, Drawing Account No. 312 Balance Post Ret Date Item Debit Credit Debit Credit 20- July Account Income Summary Account No. 313 Balance Post Ref. Date Item Debit Credit Debit Credit 20- July Account Income from $ervipes Account No. 411 Balance Post. Ret. Date Item Debit Credit Debit Credit 20- July Account Concessions Incorpe Account No. 412 Balance Post Ret. Date Item Debit Credit Debit Credit 20- July Account |Pool Maintenance Expense Account No. 511 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account Wages Experise Account No. 512 Balance Post Ref. Date Item Debit Credit Debit Credit 20- July Account Advertising Expense Account No. 513 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July I Account Utilities Experise Account No. 514 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account Interest Expense Account No. 515 Balance Post Ref. Date Item Debit Credit Debit Credit 20- July Account Insurance Expense Account No. 517 Balance Post Date Item Ref. Debit Credit Debit Credit 20- July Account Depreciation Expense, Building Account No. 518 Balance Post. Ref. Date Item Debit Credit Debit Credit 20- July Account Depreciatibn Expense, Pool Slide Facility Account No. 519 Balance Debit Post. Ref. Date Item Debit Credit Credit 20- July Account Depreciation Expense, Pool|Furriture Account No. 520 Balance Debit Post. Ref. Date Item Debit Credit Credit 20- July Account Miscellandous Expense Account No. 522 Balance Debit Post. Ref. Date Item Debit Credit Credit 20- July Enter the appropriate amounts formulas in the shaded gray cells or select from the drop-downs Not al cells should be populated An asterisk wil appear in the column to the right of an incomect answer Identifying letter will not be graded Blast Om Work Sheet For the Month Ended July 31, 20 Adjusted Trul Balance Credit Trial Balance Debe Credit Det Balang Debi Credit Account Name Cash Accounts Receivable Prepaid unce Land Building Poolside Facility Pool Furniture Accounts Payable Mortgage Payable LJuda, Capital LJud. Drawing Income from Services Concessions income Pool Maintenance Expense Winges Expense Advertising Expense Utes Expense Interest Expense Miscellaneous Expense Net Income Blast Om Income Statement For the Month Ended July 31, 20 Revenues Total Revenue Epanam Net income Blast Om Statement of Owner's Equity For the Month Ended July 21, 20