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ASSIGNMENT DESCRIPTION Deliverable Length: See assignment details OBJECTIVES The Super Hero Theme Park was started on January 1 of the current year by Dr. Strange.
ASSIGNMENT DESCRIPTION Deliverable Length: See assignment details OBJECTIVES The Super Hero Theme Park was started on January 1 of the current year by Dr. Strange. The following selected events and transactions occurred during January: \begin{tabular}{|l|l|} \hline 1Jan & JackStrange,theowner,invested$50,000inthebusiness. \\ \hline 5Jan & Purchasedequipmentfor$100,000onaccountfromTheGothamCompany. \\ \hline 8-Jan & Incurredadvertisingexpenseof$1,800onaccountfromMr.FreezeAgency. \\ \hline 11-Jan & Paidsalariestoemployees,$1,500 \\ \hline 12-Jan & Paid the cell phone bill, \$200. \\ \hline 13-Jan & Paid$1,500fora1yearinsurancepolicy. \\ \hline \end{tabular} Complete the following: 1. Journalize the January transactions. 2. Post transactions to the General Ledger. 3. Prepare a Trial Balance. 4. Prepare an Income Statement. 5. Prepare a Statement of Owner's Equity. 6. Prepare a Balance Sheet. The following accounts are used in the Super Hero Theme Park: - Cash, Accounts Receivable - Prepaid Insurance - Equipment - Accounts Payable - Unearned Admission Revenue - Jack Strange, Capital - Jack Strange, Drawing - Admission Revenue - Advertising Expense - Salaries Expense - Telephone Expense
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