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moath company reports the following for the month of June P2-5A The Starr Theater, owned by Meg Vargo, will begin operations in March. The Starr

moath company reports the following for the month of June
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P2-5A The Starr Theater, owned by Meg Vargo, will begin operations in March. The Starr Jou ique in that it will show only triple features of sequential theme movies. As of and March 1, the ledger of Starr showed: No. 101 Cash $3,000, No. 140 Land $24,000, No. 145 (LO Buildings (concession stand, projection room, ticket booth, and screen) $10,000, No. 157 Equipment S10,000, No. 201 Accounts Payable $7,000, and No. 301 Owner's Capital $40,000. During the month of March, the following events and transactions occurred. Rented the three Indiana Jones movies to be shown for the first March. The film rental was $3,500; $1,500 was paid in cash and $2,000 will be paid on March 10 3 Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $200 per night. 9 Received $4,300 cash from admissions. 10 Paid balance due on Indiana Jones movies rental and $2,100 on March 1 accounts payable. Starr Theater contracted with Adam Ladd to operate the concession stand. Ladd is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand 12 Paid advertising expenses $900 20 Received $5,000 cash from customers for admissions. 20 Received the Lord of the Rings movies and paid the rental fee of $2,000 31 Paid salaries of $3,100 31 Received statement from Adam Ladd showing gross receipts from concessions of $6,000 and the balance due to Starr Theater of $900 ($6,000 15%) for March Ladd paid one-half the balance due and will remit the remainder on April 5 31 Reccived $9,000 cash from customers for admissions. Mar. 2 3 wecks of In addition to the accounts identified above, the chart of accounts includes: No. 112 Accounts Receivable, No. 400 Service Revenue, No. 429 Rent Revenue, No. 610 Advertis- ing Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Instructions (a) Enter the beginning balances in the ledger: Insert a check mark () in the reference column of the ledger for the beginning balance Journalize the March transactions. Starr records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense a Post the March journal entries to the ledger. Assume that all entries are posted from (c) page 1 of the journal. (d) Prepare a trial balance on March 31, 2017 s rent expense

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