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Journalize the april transactions Roxy theatre Inc, was recently formed. All facilities were completed on march 31. On April 1, The ledger showed : Cash
Journalize the april transactions
Roxy theatre Inc, was recently formed. All facilities were completed on march 31. On April 1, The ledger showed : Cash $6,300; Land $10,000; Buildings (concession stand, projection room, ticket booth, and screen ) $ 58,000 ; Equipment $ 6,000; Accounts payable $2,300; Mortagage payable $38,000; and Common stock $ 40,000, During April , the following events and transactions occurred. Apt 2 Paid film rental fee of $1,800 on first movie. 3 Ordered two additional lams at ;730 each. 9 Received $5,700 cash from admissions. 10 Paid $2,000 of mortgage payable and $1,200 of accounts, payable. 11 Roxy Theater contracted with M. Gavin to operate the concession stand. Gavin agrees to pay Roxy Theater 17% of grubs receipts, payable monthly. 12 Paid advertising expenses $410. 20 Received one of the films ordered on April 3 and was billed $750. The film will he shown in April. 25 Received $3,000 cash from customers for admissions. 29 Paid salaries $1,900. 30 Received statement from M. Gavin showing gross receipts of $2,000 and the balance due to Roxy Theater of $340 ($2,000 x .17) for April. Gavin paid half of the balance due and will remit the remainder on May 5. 30 Prepaid $1,200 rental fee on special film to be run in May
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