Could you help me figure out the answer from question #1-#12? thank you so much

This problem is designed to enable you to apply the knowledge you have acquired in the preceding chapters. In accounting the ultimate test is being able to handle data in real-life situations. This problem will give you valuable experience. Chart of Accounts Assets Revenue 111 Cash 411 Income from Services 112 Accounts Receivable 412 Concession Income 113 Supplies 114 Prepaid Insurance Expenses 121 Land 511 Pool Maintenance Expense 122 Building 512 Wages Expense 123 Accumulated Depreciation, 513 Advertising Expense Building $14 Utilities Expense 124 Pool/Slide Facility 515 Interest Expense 125 Accumulated Depreciation, 516 Supplies Expense Pool/Slide Facility 517 Insurance Expense 126 Pool Furniture 518 Depreciation Expense, Build- 127 Accumulated Depreciation, ing Pool Furniture 519 Depreciation Expense, Pool/ Slide Facility Liabilities 520 Depreciation Expense, Pool 211 Accounts Payable Furniture 212 Wages Payable 522 Miscellaneous Expense 221 Mortgage Payable Owner's Equity 311 K. Taylor, Capital 312 K. Taylor, Drawing 313 Income Summary You are to record transactions in a two-column general journal. To get in a little more practice, assume that the fiscal period is one month. You will then be able to complete all the steps in the accounting cyde. When you are analyzing the transactions, think them through by visualiz- ing the accounts or by writing them down on scratch paper. In the case of unfamiliar types of transactions, specific instructions for recording them are included. However, go ahead and reason them out for yourself as well. Check off each trartsaction as it is recorded. July 1 Taylor deposited $156,000 in a bank account for the purpose of buy- ing Fun World Waterslides. The business is a public recreation area offering three large waterslides (called "tubes"), one children's slide, an inner tube run, and a hot tub area. July 2 Bought Fun World Waterslides in its entirety for a total price of $540,800. The assets include pool furniture, $2,500; the pool/slide facility (includes filter system, pools, pump, and slides), $147,800, building, 595,500; and land, $295,000. Paid $133,000 down and signed a mortgage note for the remainder. (Debit the assets, and credit Cash and the liability.) 2 Received and paid the bill for property and liability insurance for the coming year, $10,036. 2 Bought 125 inner tubes from Wright's Tires for $3,125, paying $1,500 down, with the remainder due in twenty days. (Debit Sap plies instead of an Equipment account, because inner tubes gener ally last only a month or so.) 3 Signed a contract with a video game company to lease them space for their video games and to provide a food concession. The rental income agreed upon is 10 percent of the revenues generated from their machines and food, with the estimated monthly rental income paid in advance. Received cash payment for July, $380. (Debit Cash and credit Concession Income.) 5 Received bills totaling $1,190 for the grand opening/Fourth of July party. The bill from Party Promotions for the promotional handouts, balloons, decorations, and prizes was $620, and the newspaper advertising bills were $570 from the City Star. (These expenses should all be considered advertising expense.) 6 Signed a year contract for the pool maintenance with Crystal Clean Maintenance and paid the maintenance fee for July of $506. 6 Paid cash for employee picnic food and beverages, $103.24. (Debit Miscellaneous Expense.) 7 Received $14,056 in cash as income for the use of the facilities 9 Bought parts for the filter system on account from Applewood Pool Supply, $956. (Debit Pool Maintenance Expense.) 14 Received $9,182 in cash as income for the use of the facilities, 15 Pald wages to employees for the period ending July 14, $10,050 46 Paid the bill for promotional expenses already recorded on July 5. 16 Taylor withdrew cash for personal use, $2,000. 17 Bought additional pool furniture from Leisure Products for $2,126, payment due in thirty days. 18 Paid cash to seamstress for alterations and repairs to the character costumes, $49.60. (Debit Miscellaneous Expense.) 21 Received $12,150 in cash as income for the use of the facilities. 21 Paid cash to Wright's Tires as partial payment on account, $812.50. 23 Received a $225 allowance from Leisure Products for lawn chairs received in damaged condition (a reduction in the outstanding bill, by $225). 25 Received and paid telephone bill, $176. 30 Paid wages for the period July 15 through 29 of $11,560. 31 Received $13,970 in cash as income for the use of the facilities. 31 Paid cash to Applewood Pool Supply to apply on account, $478. 31 Received and paid water bill, $2,029. 31 Paid cash as an installment payment on the mortgage, 54,788. Of this amount $1,710 represents a reduction in the principal, and the remainder is interest. (Debit Mortgage Payable, debit Interest Expense, and credit Cash.) July 31 Received and paid electric bill, $979. 31 Bought additional inner tubes from Wright's Tires for $536, paying $100 down, with the remainder due in thirty days. 31 Taylor withdrew cash for personal use, $2,500. 31 Sales for the video and food concession amounted to $5,670; ten percent of $5,670 equals $567. Since you have already recorded $380 as concession income, record the additional $187 revenue due from the concessionaire (cash was not received). Instructions 1. Journalize the transactions, starting on page 1 of the general journal. 2. Post the transactions to the ledger accounts. 3. Prepare a trial balance in the first two columns of the work sheet. 4. Complete the work sheet. Data for the adjustments are as follows: a. Insurance expired during the month, $836. b. Depreciation of building for the month, $350. c. Depreciation of pool/slide facility for the month, $570. d. Depreciation of pool furniture for the month, $50. e. Wages accrued at July 31, $589. f. Inner tubes on hand (supplies) at July 31, $1,960. 5. Prepare the income statement. 6. Prepare the statement of owner's equity. 7. Prepare the balance sheet. 8. Journalize adjusting entries. 9. Post adjusting entries to the ledger accounts. 10. Journalize closing entries. 11. Post closing entries to the ledger accounts. 12. Prepare a post-closing trial balance. 2.16 This problem is designed to enable you to apply the knowledge you have acquired in the preceding chapters. In accounting the ultimate test is being able to handle data in real-life situations. This problem will give you valuable experience. Chart of Accounts Assets Revenue 111 Cash 411 Income from Services 112 Accounts Receivable 412 Concession Income 113 Supplies 114 Prepaid Insurance Expenses 121 Land 511 Pool Maintenance Expense 122 Building 512 Wages Expense 123 Accumulated Depreciation, 513 Advertising Expense Building $14 Utilities Expense 124 Pool/Slide Facility 515 Interest Expense 125 Accumulated Depreciation, 516 Supplies Expense Pool/Slide Facility 517 Insurance Expense 126 Pool Furniture 518 Depreciation Expense, Build- 127 Accumulated Depreciation, ing Pool Furniture 519 Depreciation Expense, Pool/ Slide Facility Liabilities 520 Depreciation Expense, Pool 211 Accounts Payable Furniture 212 Wages Payable 522 Miscellaneous Expense 221 Mortgage Payable Owner's Equity 311 K. Taylor, Capital 312 K. Taylor, Drawing 313 Income Summary You are to record transactions in a two-column general journal. To get in a little more practice, assume that the fiscal period is one month. You will then be able to complete all the steps in the accounting cyde. When you are analyzing the transactions, think them through by visualiz- ing the accounts or by writing them down on scratch paper. In the case of unfamiliar types of transactions, specific instructions for recording them are included. However, go ahead and reason them out for yourself as well. Check off each trartsaction as it is recorded. July 1 Taylor deposited $156,000 in a bank account for the purpose of buy- ing Fun World Waterslides. The business is a public recreation area offering three large waterslides (called "tubes"), one children's slide, an inner tube run, and a hot tub area. July 2 Bought Fun World Waterslides in its entirety for a total price of $540,800. The assets include pool furniture, $2,500; the pool/slide facility (includes filter system, pools, pump, and slides), $147,800, building, 595,500; and land, $295,000. Paid $133,000 down and signed a mortgage note for the remainder. (Debit the assets, and credit Cash and the liability.) 2 Received and paid the bill for property and liability insurance for the coming year, $10,036. 2 Bought 125 inner tubes from Wright's Tires for $3,125, paying $1,500 down, with the remainder due in twenty days. (Debit Sap plies instead of an Equipment account, because inner tubes gener ally last only a month or so.) 3 Signed a contract with a video game company to lease them space for their video games and to provide a food concession. The rental income agreed upon is 10 percent of the revenues generated from their machines and food, with the estimated monthly rental income paid in advance. Received cash payment for July, $380. (Debit Cash and credit Concession Income.) 5 Received bills totaling $1,190 for the grand opening/Fourth of July party. The bill from Party Promotions for the promotional handouts, balloons, decorations, and prizes was $620, and the newspaper advertising bills were $570 from the City Star. (These expenses should all be considered advertising expense.) 6 Signed a year contract for the pool maintenance with Crystal Clean Maintenance and paid the maintenance fee for July of $506. 6 Paid cash for employee picnic food and beverages, $103.24. (Debit Miscellaneous Expense.) 7 Received $14,056 in cash as income for the use of the facilities 9 Bought parts for the filter system on account from Applewood Pool Supply, $956. (Debit Pool Maintenance Expense.) 14 Received $9,182 in cash as income for the use of the facilities, 15 Pald wages to employees for the period ending July 14, $10,050 46 Paid the bill for promotional expenses already recorded on July 5. 16 Taylor withdrew cash for personal use, $2,000. 17 Bought additional pool furniture from Leisure Products for $2,126, payment due in thirty days. 18 Paid cash to seamstress for alterations and repairs to the character costumes, $49.60. (Debit Miscellaneous Expense.) 21 Received $12,150 in cash as income for the use of the facilities. 21 Paid cash to Wright's Tires as partial payment on account, $812.50. 23 Received a $225 allowance from Leisure Products for lawn chairs received in damaged condition (a reduction in the outstanding bill, by $225). 25 Received and paid telephone bill, $176. 30 Paid wages for the period July 15 through 29 of $11,560. 31 Received $13,970 in cash as income for the use of the facilities. 31 Paid cash to Applewood Pool Supply to apply on account, $478. 31 Received and paid water bill, $2,029. 31 Paid cash as an installment payment on the mortgage, 54,788. Of this amount $1,710 represents a reduction in the principal, and the remainder is interest. (Debit Mortgage Payable, debit Interest Expense, and credit Cash.) July 31 Received and paid electric bill, $979. 31 Bought additional inner tubes from Wright's Tires for $536, paying $100 down, with the remainder due in thirty days. 31 Taylor withdrew cash for personal use, $2,500. 31 Sales for the video and food concession amounted to $5,670; ten percent of $5,670 equals $567. Since you have already recorded $380 as concession income, record the additional $187 revenue due from the concessionaire (cash was not received). Instructions 1. Journalize the transactions, starting on page 1 of the general journal. 2. Post the transactions to the ledger accounts. 3. Prepare a trial balance in the first two columns of the work sheet. 4. Complete the work sheet. Data for the adjustments are as follows: a. Insurance expired during the month, $836. b. Depreciation of building for the month, $350. c. Depreciation of pool/slide facility for the month, $570. d. Depreciation of pool furniture for the month, $50. e. Wages accrued at July 31, $589. f. Inner tubes on hand (supplies) at July 31, $1,960. 5. Prepare the income statement. 6. Prepare the statement of owner's equity. 7. Prepare the balance sheet. 8. Journalize adjusting entries. 9. Post adjusting entries to the ledger accounts. 10. Journalize closing entries. 11. Post closing entries to the ledger accounts. 12. Prepare a post-closing trial balance. 2.16