Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mar. 2 3 9 10 The Bramble Theater, owned by Meg Varga, will begin operations in March. The Bramble will be unique in that it

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Mar. 2 3 9 10 The Bramble Theater, owned by Meg Varga, will begin operations in March. The Bramble will be unique in that it will show only trple features of sequential theme movies, As of March 1 the ledger of Bramble showed: Cash No. 101 52.950, No. 140 Land $24.000, No. 145 Buildings (concession stand, projection room ticket booth, and screen) $11.000, No. 157 Equipment $11.000, No. 201 Accounts Payable $7.900, and No. 301 Owner's Capital 541,050. During the month of March, the following events and transactions occurred. Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3,600,51.400 was paid in cash and $2.200 will be paid on March 10. Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $160 per night Received $4,300 cash from admissions Paid balance due on Indiana Jones movies rental and S2.100 on March 1 accounts payable. 11 Bramble Theater contracted with Adam Ledd to operate the concession stand. Ladd is to pay 15% of gross concession receipts.payable monthly. For the rental of the concession stand. Paid advertising expenses 5800, 20 Received 55,100 cash from customers for admissions, Received the Lord of the Rings movies and paid the rental fee of $1.600. Paid salaries of 52.800 Received statement from Adam Ladd showing gross receipts from concessions of $5.000 and the balance due to Bramble Theater of 5750 (55.000x1596) for March Ladd paid one-half the balance due and will remit the remainder on April 5. 31 Received $9.200 cash from customers for admissions 12 20 31 31 Post the March journal entries to the ledger (Post entries in the order of journal entries presented in the previous question NA Cash Balance Debit Credit Date Explanation Ref Mat. 1 Balance V 11 J1 31 31 31 33 Prepare a trial balancs on March 31, 2022. BRAMBLE THEATER Trial Balance Debit Credit Totes

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE Business Accounting Volume 1

Authors: Frank Wood, Alan Sangster

8th Edition

0273638394, 9780273638391

More Books

Students also viewed these Accounting questions