iv$)$ Depreciation expense is the following for the building and the rides for the $2023$ year:

v$)$ Fantasyland received a bill from a ride maintenance contractor on June $15,2023.$ The bill

pertained to services provided to Fantasyland in the months of April and May $2023.$ This

bill is not reflected in the unadjusted trial balance.

Amount of maintenance service bill $,$$$,6,584$

vi$)$ Fantasyland's employees earned wages in May $2023$ that were not paid until the following

month:

Wages owing on May $31,2023$

$$,3,084$

vii$)$ The note payable is a $5-$year note given to the bank on May $1,2023.$ It bears interest at a

rate of $6\%$ annually. The first interest payment is scheduled to be made on June $1,2023.$

Fantasyland is not expected to make any principal payments on this note for the next $2$

years.

viii$)$ Three$-$quarters of the amount recorded in the unearned admission ticket revenue account

has been earned by May $31,2023.$

ix$)$ Dividends were declared on May $31,2023,$ to be paid to the shareholders of record on

June $3,2023.$ The dividends were paid on June $7,2023.$ No journal entry for these

dividends has been included in the unadjusted trial balance.

Amount of dividends declared

$$54,000$

x$)$ Fantasyland Adventures calculated its income taxes for the $2023$ year at the following

amount $($note that none of this amount was paid or recorded by the corporation's year

end of May $31,2023)$:

Income taxes for $2023$

$$,14,298$

Required:

Note that you can use the optional templates attached to this question in preparing and

submitting your responses:

a$)$ Using the accounts from the unadjusted trial balance, prepare adjusting journal entries for

Fantasyland Adventures Company as at May $31,2023.$ You are not required to provide an

explanation for each entry. $(13$ marks$)$

b$)$ Post each adjusting journal entry to the general ledger. $(10\mathrm{.}5$ marks$)$

c$)$ Prepare an adjusted trial balance for Fantasyland Adventures Company as at May $31,$

$(10\mathrm{.}5$ marks$).$

d$)$ Prepare the following financial statements for Fantasyland Adventures Company as at or

for the year ended May $31,2023$:

Single$-$Step Income Statement. $(5$ marks$)$

Statement of Retained Earnings $(2$ marks$)$

Classified Balance Sheet $(7$ marks$)$

HINT: See Illustration $4\mathrm{.}8$ on page $4-24$ for the format of the single$-$step income

statement $($you are not required to categorize income taxes as current or deferred$).$ See

Illustration $4\mathrm{.}13$ on page $4-31$ for a sample Statement of Retained Earnings. See

Illustration $5\mathrm{.}12$ on pages $5-24$ to $5-25$ for a sample Classified Balance Sheet $($also called

Statement of Financial Position$).$