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During the month of September, the Texas Go-Kart Company had the following business activities: a. On September 1, paid rent on the track facility for
During the month of September, the Texas Go-Kart Company had the following business activities: a. On September 1, paid rent on the track facility for six months at a total cost of $13,800. b. On September 1, received $40,800 for season tickets for 12-month admission to the race track. c. On September 1, booked the race track for a private organization that will use the track one day per month for $2,300 each time, to be paid in the following month. The organization uses the track on September 30. d. On September 1, hired a new manager at a monthly salary of $1,900, to be paid the first Monday following the end of the month. Required: 1. Prepare the journal entry, if any, required to record each of the initial business activities on September 1. 2. Prepare the adjusting journal entries, if any, required on September 30. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry, if any, required to record each of the initial business activities on September 1. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the payment of rent on the track facility for six months at a total cost of $13,800. Note: Enter debits before credits. Date General Journal Debit Credit September 01 Record entry Clear entry View general journal ! Required information [The following information applies to the questions displayed below.) Mobo, a wireless phone carrier, completed its first year of operations on October 31. All of the year's entries have been recorded, except for the following: a. At year-end, employees earned wages of $7,500, which will be paid on the next payroll date, November 6. b. At year-end, the company had earned interest revenue of $4,500. It will be collected December 1. 3. Show the accounting equation effects of each required adjustment. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Transaction Assets Liabilities Stockholders' Equity a. b
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