Bob Night opened The Generals Favorite Fishing Hole. The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and returning home the following Saturday afternoon. The registration fee includes room and board, the use of fishing boats, and professional instruction in fishing techniques. The chart of accounts for the camping operations is provided below.

Post the entries to the general ledger.

Post the adjusting entries to the general ledger.

Prepare a trial balance on a work sheet.

Complete the work sheet.

Journalize the adjusting entries.

The following transactions took place during April 20--.

Apr. 1 Night invested cash in business, $90,000.

1 Paid insurance premium for six-month camping season, $9,000.

2 Paid rent for lodge and campgrounds for the month of April, $40,000.

2 Deposited registration fees, $35,000.

2 Purchased 10 fishing boats on account for $60,000. The boats have estimated useful lives of five years, at which time they will be donated to a local day camp. Arrangements were made to pay for the boats in July.

3 Purchased food supplies from Acme Super Market on account, $7,000.

5 Purchased office supplies from Gordon Office Supplies on account, $500.

7 Deposited registration fees, $38,600.

10 Purchased food supplies from Acme Super Market on account, $8,200.

10 Paid wages to fishing guides, $10,000.

14 Deposited registration fees, $30,500.

16 Purchased food supplies from Acme Super Market on account, $9,000.

17 Paid wages to fishing guides, $10,000.

18 Paid postage, $150.

21 Deposited registration fees, $35,600.

24 Purchased food supplies from Acme Super Market on account, $8,500.

24 Paid wages to fishing guides, $10,000.

28 Deposited registration fees, $32,000.

29 Paid wages to fishing guides, $10,000.

30 Purchased food supplies from Acme Super Market on account, $6,000.

30 Paid Acme Super Market on account, $32,700.

30 Paid utilities bill, $2,000.

30 Paid phone bill, $1,200.

30 Bob Night withdrew cash for personal use, $6,000.

Adjustment information for the end of April is provided below.

(a) Office supplies remaining on hand, $100.

(b) Food supplies remaining on hand, $8,000.

(c) Insurance expired during the month of April, $1,500.

(d) Depreciation on the fishing boats for the month of April, $1,000.

(e) Wages earned, but not yet paid, at the end of April, $500.

CHART OF ACCOUNTS

The Generals Favorite Fishing Hole

General Ledger

	ASSETS
101	Cash
122	Accounts Receivable
142	Office Supplies
144	Food Supplies
145	Prepaid Insurance
181	Fishing Boats
181.1	Accumulated Depreciation-Fishing Boats

	LIABILITIES
202	Accounts Payable
219	Wages Payable
	EQUITY
311	Bob Night, Capital
312	Bob Night, Drawing
313	Income Summary

	REVENUE
401	Registration Fees
	EXPENSES
511	Wages Expense
521	Rent Expense
523	Office Supplies Expense
524	Food Supplies Expense
525	Phone Expense
533	Utilities Expense
535	Insurance Expense
536	Postage Expense
542	Depreciation Expense-Fishing Boats

Amount Descriptions
Net Income
Net Loss

GENERAL LEDGER Account: Cash Account No. 101 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 1 2 3 4 5 7 9 10 11 12 14 15 16 The General's Favorite Fishing Hole Work Sheet For the Month Ended April 30, 20-- INCOME 1 ACCOUNT TITLE TRIAL BALANCE TRIAL BALANCE ADJUSTMENTS ADJUSTMENTS INCOME STATEMENT BALANCE SHEET ADJUSTED TRIAL ADIUSTED TRIAL BALANCE BALANCE DEBIT CREDIT BALANCE SHEET STATEMENT 2 DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 3 Cash 4 Office Supplies s Food Supplies 6 Prepaid Insurance 7 Fishing Boats 8 Accumulated Depreciation-Fishing Boats 9 Accounts Payable 10 Wages Payable 11 Bob Night, Capital 12 Bob Night, Drawing 13 Registration Fees 14 Wages Expense 15 Rent Expense 16 Office Supplies Expense 17 Food Supplies Expense 12 Phone Expense 19 Utilities Expense 20 Insurance Expense 21 Postage Expense 22 Depreciation Expense-Fishing Boats 23 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00 0.00 0.00 0.00 24 Net Income 0.00 0.00 25 $0.00 $0.00 $ $0.00 $0.00