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I need help with begin and post ledger P3-8A Big Sky Drive-In Theater Inc. was recently formed. It began operations in April Jou 2007. On

I need help with begin and post ledger
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P3-8A Big Sky Drive-In Theater Inc. was recently formed. It began operations in April Jou 2007. On April 1, the ledger of Big Sky showed: Cash $31,000; Land $52,000; Buildings ane (concession stand, projection room, ticket booth, and screen) $64,000; Equipment (SO $35,000; Accounts Payable $22,000; and Common Stock $160,000. During the month of April the following events and transactions occurred. Rented movies to be shown for the first two weeks of April. The film rental was $15,000; $3,000 was paid in cash and $12,000 will be paid or April 13 Ordered movies to be shown the last two weeks of April at a cost of $7,000 per week. Received $11,400 cash from admissions. Hired R. Daggett to operate the concession stand. Daggett agrees to pay Big Sky 20% of gross receipts, payable monthly. Paid balance due on movie rentals and $7,400 on April 1 accounts payable Received the movies ordered April 2 and paid rental fee of $14,000. Paid advertising expenses $600. Received $9,800 cash from customers for admissions. Paid salaries of $5,200. Received statement from R. Daggett showing gross receipts from con- cessions of $10,400 and the balance due to Big Sky of $2,080 for April. Daggett paid half the balance due and will remit the remainder on May 8 Received $23,000 cash from customers for admissions. Apr. 1 2 8 10 13 14 15 18 30 30 30 In addition to the accounts identified above, the chart of accounts includes: Accounts Receivable, Admission Revenue, Concession Revenue, Advertising Expense, Film Rental Expense, and Salaries Expense. nstructions ) Using T accounts, enter the beginning balances to the ledger (b) Journalize the April transactions, including explanations. c) Post the April journal entries to the ledger (d) Prepare a trial balance on April 30, 2007

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