Journal Entries & Trial Balance

Icey's Skating & Hockey Academy Corp.'s general ledger at March 31, 2020, showed Cash $23,000; Equipment $2,000; Accounts Payable $500; Unearned Revenue (for advance registration fees) $17,500; Common Shares $1,000; and Retained Earnings $6,000. The following transactions occured during April:

• Apr. 2 - Paid for ice time for first two weeks of April, $5,000.
• Apr. 4 - Booked ice with the city for the April session. It will cost $10,000.
• Apr. 6 - Received and paid a bill for $500 for advertising of the April skaiting academy.
• Apr. 9 - Paid $300 of accounts payable outstanding at March 31.
• Apr. 13 - Paid coaches and assistant coaches, $1,000.
• Apr. 16 - Paid for ice time for remainder of April, $5,000.
• Apr. 18 - Received a bill for Internet service (a utility) for $100. This invoice is due on May 15.
• Apr. 19 - Pid $200 cash for supplies used immediatley.
• Apr. 24 Received advance registrants for the next four-week skating session in May, $2,200.
• Apr. 25 - Paid income tax instalment for the month, $880.
• Apr. 27 - Purchased gifts for volunteers who helped out during April session, $300. The business considers this an Advertising Expense.
• Apr. 30 - Paid coaches and assistant coaches, $1,000.
• Apr. 30 - Last day of April session. All of the advance registration fees have now been earned.

Instructions

a) Journalize the April transactions.

b) Set up T-accounts, enter the beginning balances in the general ledger at March 31, and post the April journal entries to the general ledger.

c) Prepare a trial balance at April 30.

EXAMPLE

• Sept. 1 Issued common shares for $20,000 cash.

date	account	debit	credit
01- sept	cash	20,000
	common shares		20,000