Current Attempt in Progress The Ivanhoe Theater Inc. was recently formed. It began operations in March 2025 . The Ivanhoe is unique in that it will show only triple features of sequential theme movies. On March 1, the ledger of The Ivanhoe showed Cash $16,000, Land $38,500, Buildings (concession stand, projection room, ticket booth, and screen) $21,500, Equipment $18,000, Accounts Payable $11,400, and Common Stock $82,600. During the month of March, the following events and transactions occurred: Mar. 2 Rented the first three Star Wars movies (Star Wars 2, The Empire Strikes Back, and The Return of the Jedi) to be shown for the first three weeks of March. The film rental was $12,500;$2,300 was paid in cash and $10,200 will be paid on March 10. 3 Ordered the first three Star Trek movies to be shown the last 10 days of March. It will cost $700 per night. 9 Received $10,500 cash from admissions. 10 Paid balance due on Star Wars movies' rental and $3,200 on March 1 accounts payable. 11 The Ivanhoe Theater contracted with R. Lazlo to operate the concession stand. Lazlo agrees to pay The Ivanhoe 15% of gross receipts, payable monthly, for the rental of the concession stand. 12 Paid advertising expenses $600. 20 Received $8,600 cash from customers for admissions. 20 Received the Star Trek movies and paid rental fee of $7,000. 31 Paid salaries of $4,000. 31 Received statement from R. Lazlo showing gross receipts from concessions of $10,400 and the balance due to The Ivanhoe of $1,560($10,400.15) for March. Lazlo paid half the balance due for rental of the concession stand and will remit the remainder on April 5. 31 Received $20,000 cash from customers for admissions. Current Attempt in Progress The Ivanhoe Theater Inc. was recently formed. It began operations in March 2025 . The Ivanhoe is unique in that it will show only triple features of sequential theme movies. On March 1, the ledger of The Ivanhoe showed Cash $16,000, Land $38,500, Buildings (concession stand, projection room, ticket booth, and screen) $21,500, Equipment $18,000, Accounts Payable $11,400, and Common Stock $82,600. During the month of March, the following events and transactions occurred: Mar. 2 Rented the first three Star Wars movies (Star Wars 2, The Empire Strikes Back, and The Return of the Jedi) to be shown for the first three weeks of March. The film rental was $12,500;$2,300 was paid in cash and $10,200 will be paid on March 10. 3 Ordered the first three Star Trek movies to be shown the last 10 days of March. It will cost $700 per night. 9 Received $10,500 cash from admissions. 10 Paid balance due on Star Wars movies' rental and $3,200 on March 1 accounts payable. 11 The Ivanhoe Theater contracted with R. Lazlo to operate the concession stand. Lazlo agrees to pay The Ivanhoe 15% of gross receipts, payable monthly, for the rental of the concession stand. 12 Paid advertising expenses $600. 20 Received $8,600 cash from customers for admissions. 20 Received the Star Trek movies and paid rental fee of $7,000. 31 Paid salaries of $4,000. 31 Received statement from R. Lazlo showing gross receipts from concessions of $10,400 and the balance due to The Ivanhoe of $1,560($10,400.15) for March. Lazlo paid half the balance due for rental of the concession stand and will remit the remainder on April 5. 31 Received $20,000 cash from customers for admissions
