Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.

image text in transcribed

image text in transcribed

image text in transcribed

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles of Cost Accounting

Authors: Edward J. Vanderbeck

16th edition

9781133712701, 1133187862, 1133712703, 978-1133187868

More Books

Students also viewed these Accounting questions