need help figuring out this problem, I already did part 1 period 1 and had trouble with it, I need to know how to do all of it, it's a practice question

this is part one byt I already did that, and that's the whole problem, I don't know which part is missing :/

COMPREHENSIVE PROBLEM 1: mprehensive Problem 1, Period 2: The Accounting Cycle The Accounting Cycle Compre 225 CLGL During the month of May 20-, The General lowing transactions. These transactions requires as shown below. intuit O May 20-, The General's Favorite Fishing Hole engaged in the fol- . These transactions required an expansion of the chart of accounts QuickBooks. Assets 101 122 142 144 145 146 161 171 Revenues 401 Registration Fees 404 Vending Commission Revenue This comprehensive prob- lemn is intended to serve as a mini-practice set without the source documents. As such, students should plan on about three to four hours to complete this problem. Cash Accounts Receivable Office Supplies Food Supplies Prepaid Insurance Prepaid Subscriptions Land Buildings 171.1 Accum. Depr.- Buildings 181 Fishing Boats 181.1 Accum. Depr.-Fishing Boats 182 Surround Sound System 182.1 Accum. Depr.--Surround Sound Sys. 183 Big Screen TV 183.1 Accum. Depr.-Big Screen TV Expenses 511 Wages Expense 512 Advertising Expense 521 Rent Expense 523 Office Supplies Expense 524 Food Supplies Expense 525 Phone Expense 533 Utilities Expense 535 Insurance Expense 536 Postage Expense 537 Repair Expense 540 Depr. Exp.-Buildings 541 Depr. Exp.-Surround Sound Sys. 542 Depr. Exp.-Fishing Boats 543 Depr. Exp.-Big Screen TV 546 Satellite Programming Exp. 548 Subscriptions Expense Liabilities 202 Accounts Payable 219 Wages Payable Owner's Equity 311 Bob Night, Capital 312 Bob Night, Drawing 313 Income Summary May 1 2 In order to provide snacks for guests on a 24-hour basis, Night signed a contract with Snack Attack. Snack Attack will install vending machines with food and drinks and pay a 10% commission on all sales. Estimated payments are made at the beginning of each month. Night received a check for $200, the estimated commission on sales for May. Night purchased a surround sound system and big screen TV with a digital satellite system for the guest lounge. The surround sound system cost $3,600 and has an estimated useful life of five years and no salvage value. The TV cost $8,000, has an estimated useful life of eight years, and has a salvage value of $800. Night paid cash for both items. Paid for May's programming on the new digital satellite system, $125. Night's office manager returned $100 worth of office supplies to Gordon Office Supply. Night received a $100 reduction on the account. 2 3 3 Deposited registration fees, $52,700. (continued) 26 PARTI Accounting for a Service Business th of May, $40,000 Paid rent for lodge and campgrounds for the month of May. In preparation for the purchase of a nearby campground, Night invested an additional $600,000. Paid Gordon Office Supply on account, $400. boats, $9,000. 4 0.000 salvage no salvage value Purchased the assets of a competing business and paid cash for the lowing: land, $100,000; lodge, $530,000; and fishing boats, $9.0 The lodge has a remaining useful life of 50 years and a $50,000 value. The boats have remaining lives of five years and no salvas Paid May's insurance premium for the new camp, $1,000. (See ab transaction.) Purchased food supplies from Acme Super Market on account. $22,950. Purchased office supplies from Gordon Office Supplies on account $1,200. Night paid $40 each for one-year subscriptions to Fishing Illustrated Fishing Unlimited, and Fish Master. The magazines are published monthly 10 Deposited registration fees, $62,750. 13 Paid wages to fishing guides, $30,000. (Don't forget wages payable.) 14 A guest became ill and was unable to stay for the entire week. A refund was issued in the amount of $1,000. 17 Deposited registration fees, $63,000. Purchased food supplies from Acme Super Market on account, $18,400. 21 Deposited registration fees, $63,400. 23 Paid $2,500 for advertising spots on National Sports Talk Radio. 25 Paid repair fee for damaged boat, $850. 27 Paid wages to fishing guides, $30,000. Paid $1,800 for advertising spots on billboards. Purchased food supplies from Acme Super Market on account, $14,325. 30 Paid utilities bill, $3,300. 30 Paid phone bill, $1,800. 30 Paid Acme Super Market on account, $47,350. 31 Bob Night withdrew cash for personal use, $7,500. Adjustment information at the end of May is provided below. (a) Total vending machine sales were $2,300 for the month of May. A 10% commission is earned on these sales. (b) Straight-line depreciation is used for the 10 boats nuvchaped an April 2 for $60,000. The useful life for these assets is five years and there is no salvas, value. A full month's depreciation was taken in April on these boats. Strals line depreciation is also used for the two boats purchased in May. Make adjusting entry for all depreciation on the boats. COMPREHENSIVE PROBLEM 1: The Accounting Cycle 227 (c) Straight-line depreciation is used to depre (d) Straight-line depreciation is used to depreciate the big s sed to depreciate the big screen TV. line depreciation is used for the building purchased in May. (f) On April 2, Night paid $9,000 for insurance a Night paid $9,000 for insurance during the six-month camping season. May's portion of this premium was used up during this month. received his May issues of Fishing Illustrated, Fishing Unlimited, and Fish Master. (h) Office supplies remaining on hand, $150. (i) Food supplies remaining on hand, $5,925. 6) Wages earned, but not yet paid, at the end of May, $6,000. REQUIRED 1. Enter the transactions in a general journal. Enter transactions from May 1-4 on page 5, May 5-28 on page 6, and the remaining entries on page 7. To save time and space, don't enter descriptions for the journal entries. 2. Post the entries to the general ledger. (If you are not using the working papers that accompany this text, you will need to enter the account titles, account num- bers, and balances from April 30 in the general ledger accounts.) 3. Prepare a trial balance on a work sheet. 4. Complete the work sheet. 5. Journalize the adjusting entries on page 8 of the general journal. 6. Post the adjusting entries to the general ledger. 7. Prepare the income statement. 8. Prepare the statement of owner's equity. 9. Prepare the balance sheet. 10. Journalize the closing entries on page 9 of the general journal. 11. Post the closing entries to the general ledger. 12. Prepare a post-closing trial balance. COMPREHENSIVE PROBLEM 1: The Accounting Cycle 223 Comprehensive Problem 1: The Accounting Cycle CLGL als intuit CD QuickBooks. This comprehensive prob- lem is intended to serve as a mini-practice set without the source documents. As such, students should plan on about three to four hours to complete this problem. 523 Bob Night opened "The General's Favorite Fishing Hole." The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and returning home the following Saturday afternoon. The registration fee includes room and board, the use of fishing boats, and professional instruction in fish- ing techniques. The chart of accounts for the camping operations is provided below. The General's Favorite Fishing Hole Chart of Accounts Assets Revenues 101 Cash 401 Registration Fees 142 Office Supplies 144 Food Supplies Expenses 145 Prepaid Insurance 511 Wages Expense 181 Fishing Boats 521 Rent Expense 181.1 Accum. Depr.Fishing Boats Office Supplies Expense 524 Food Supplies Expense Liabilities 525 Phone Expense 202 Accounts Payable 533 Utilities Expense 219 Wages Payable 535 Insurance Expense 536 Postage Expense Owner's Equity 542 Depr. Exp.Fishing Boats 311 Bob Night, Capital 312 Bob Night, Drawing 313 Income Summary The following transactions took place during April 20--. Apr. 1 Night invested cash in business, $90,000. Paid insurance premium for six-month camping season, $9,000. 2 Paid rent for lodge and campgrounds for the month of April, $40,000. 2 Deposited registration fees, $35,000. 2 Purchased 10 fishing boats on account for $60,000. The boats have estimated useful lives of five years, at which time they will be donated to a local day camp. Arrangements were made to pay for the boats in July. 3 Purchased food supplies from Acme Super Market on account, $7,000. Purchased office supplies from Gordon Office Supplies on account, $500. 7 Deposited registration fees, $38,600. 10 Purchased food supplies from Acme Super Market on account, $8,200. 10 Paid wages to fishing guides, $10,000. 14 Deposited registration fees, $30,500. (continued) 224 PART 1 Accounting for a Service Business Apr. 16 17 18 21 24 24 28 29 30 30 30 30 30 Purchased food supplies from Acme Super Market on account, $9,000. Paid wages to fishing guides, $10,000. Paid postage, $150. Deposited registration fees, $35,600. Purchased food supplies from Acme Super Market on account, $8,500. Paid wages to fishing guides, $10,000. Deposited registration fees, $32,000. Paid wages to fishing guides, $10,000. Purchased food supplies from Acme Super Market on account, $6,000. Paid Acme Super Market on account, $32,700. Paid utilities bill, $2,000. Paid phone bill, $1,200. Bob Night withdrew cash for personal use, $6,000. Adjustment information for the end of April is provided below. (a) Office supplies remaining on hand, $100. (b) Food supplies remaining on hand, $8,000. (c) Insurance expired during the month of April, $1,500. (d) Depreciation on the fishing boats for the month of April, $1,000. (e) Wages earned, but not yet paid, at the end of April, $500. REQUIRED 1. Enter the transactions in a general journal. Enter transactions from April 1-5 on page 1, April 7-18 on page 2, April 21-29 and the first two entries for April 30 on page 3, and the remaining entries for April 30 on page 4. 2. Post the entries to the general ledger. (If you are not using the working papers that accompany this text, you will need to enter the account titles and account numbers in the general ledger accounts.) 3. Prepare a trial balance on a work sheet. 4. Complete the work sheet. 5. Journalize the adjusting entries (page 5). 6. Post the adjusting entries to the general ledger. 7. Prepare the income statement. 8. Prepare the statement of owner's equity. 9. Prepare the balance sheet. 10. Journalize the closing entries (pages 5 and 6). 11. Post the closing entries to the general ledger. 12. Prepare a post-closing trial balance. COMPREHENSIVE PROBLEM 1: mprehensive Problem 1, Period 2: The Accounting Cycle The Accounting Cycle Compre 225 CLGL During the month of May 20-, The General lowing transactions. These transactions requires as shown below. intuit O May 20-, The General's Favorite Fishing Hole engaged in the fol- . These transactions required an expansion of the chart of accounts QuickBooks. Assets 101 122 142 144 145 146 161 171 Revenues 401 Registration Fees 404 Vending Commission Revenue This comprehensive prob- lemn is intended to serve as a mini-practice set without the source documents. As such, students should plan on about three to four hours to complete this problem. Cash Accounts Receivable Office Supplies Food Supplies Prepaid Insurance Prepaid Subscriptions Land Buildings 171.1 Accum. Depr.- Buildings 181 Fishing Boats 181.1 Accum. Depr.-Fishing Boats 182 Surround Sound System 182.1 Accum. Depr.--Surround Sound Sys. 183 Big Screen TV 183.1 Accum. Depr.-Big Screen TV Expenses 511 Wages Expense 512 Advertising Expense 521 Rent Expense 523 Office Supplies Expense 524 Food Supplies Expense 525 Phone Expense 533 Utilities Expense 535 Insurance Expense 536 Postage Expense 537 Repair Expense 540 Depr. Exp.-Buildings 541 Depr. Exp.-Surround Sound Sys. 542 Depr. Exp.-Fishing Boats 543 Depr. Exp.-Big Screen TV 546 Satellite Programming Exp. 548 Subscriptions Expense Liabilities 202 Accounts Payable 219 Wages Payable Owner's Equity 311 Bob Night, Capital 312 Bob Night, Drawing 313 Income Summary May 1 2 In order to provide snacks for guests on a 24-hour basis, Night signed a contract with Snack Attack. Snack Attack will install vending machines with food and drinks and pay a 10% commission on all sales. Estimated payments are made at the beginning of each month. Night received a check for $200, the estimated commission on sales for May. Night purchased a surround sound system and big screen TV with a digital satellite system for the guest lounge. The surround sound system cost $3,600 and has an estimated useful life of five years and no salvage value. The TV cost $8,000, has an estimated useful life of eight years, and has a salvage value of $800. Night paid cash for both items. Paid for May's programming on the new digital satellite system, $125. Night's office manager returned $100 worth of office supplies to Gordon Office Supply. Night received a $100 reduction on the account. 2 3 3 Deposited registration fees, $52,700. (continued) 26 PARTI Accounting for a Service Business th of May, $40,000 Paid rent for lodge and campgrounds for the month of May. In preparation for the purchase of a nearby campground, Night invested an additional $600,000. Paid Gordon Office Supply on account, $400. boats, $9,000. 4 0.000 salvage no salvage value Purchased the assets of a competing business and paid cash for the lowing: land, $100,000; lodge, $530,000; and fishing boats, $9.0 The lodge has a remaining useful life of 50 years and a $50,000 value. The boats have remaining lives of five years and no salvas Paid May's insurance premium for the new camp, $1,000. (See ab transaction.) Purchased food supplies from Acme Super Market on account. $22,950. Purchased office supplies from Gordon Office Supplies on account $1,200. Night paid $40 each for one-year subscriptions to Fishing Illustrated Fishing Unlimited, and Fish Master. The magazines are published monthly 10 Deposited registration fees, $62,750. 13 Paid wages to fishing guides, $30,000. (Don't forget wages payable.) 14 A guest became ill and was unable to stay for the entire week. A refund was issued in the amount of $1,000. 17 Deposited registration fees, $63,000. Purchased food supplies from Acme Super Market on account, $18,400. 21 Deposited registration fees, $63,400. 23 Paid $2,500 for advertising spots on National Sports Talk Radio. 25 Paid repair fee for damaged boat, $850. 27 Paid wages to fishing guides, $30,000. Paid $1,800 for advertising spots on billboards. Purchased food supplies from Acme Super Market on account, $14,325. 30 Paid utilities bill, $3,300. 30 Paid phone bill, $1,800. 30 Paid Acme Super Market on account, $47,350. 31 Bob Night withdrew cash for personal use, $7,500. Adjustment information at the end of May is provided below. (a) Total vending machine sales were $2,300 for the month of May. A 10% commission is earned on these sales. (b) Straight-line depreciation is used for the 10 boats nuvchaped an April 2 for $60,000. The useful life for these assets is five years and there is no salvas, value. A full month's depreciation was taken in April on these boats. Strals line depreciation is also used for the two boats purchased in May. Make adjusting entry for all depreciation on the boats. COMPREHENSIVE PROBLEM 1: The Accounting Cycle 227 (c) Straight-line depreciation is used to depre (d) Straight-line depreciation is used to depreciate the big s sed to depreciate the big screen TV. line depreciation is used for the building purchased in May. (f) On April 2, Night paid $9,000 for insurance a Night paid $9,000 for insurance during the six-month camping season. May's portion of this premium was used up during this month. received his May issues of Fishing Illustrated, Fishing Unlimited, and Fish Master. (h) Office supplies remaining on hand, $150. (i) Food supplies remaining on hand, $5,925. 6) Wages earned, but not yet paid, at the end of May, $6,000. REQUIRED 1. Enter the transactions in a general journal. Enter transactions from May 1-4 on page 5, May 5-28 on page 6, and the remaining entries on page 7. To save time and space, don't enter descriptions for the journal entries. 2. Post the entries to the general ledger. (If you are not using the working papers that accompany this text, you will need to enter the account titles, account num- bers, and balances from April 30 in the general ledger accounts.) 3. Prepare a trial balance on a work sheet. 4. Complete the work sheet. 5. Journalize the adjusting entries on page 8 of the general journal. 6. Post the adjusting entries to the general ledger. 7. Prepare the income statement. 8. Prepare the statement of owner's equity. 9. Prepare the balance sheet. 10. Journalize the closing entries on page 9 of the general journal. 11. Post the closing entries to the general ledger. 12. Prepare a post-closing trial balance. COMPREHENSIVE PROBLEM 1: The Accounting Cycle 223 Comprehensive Problem 1: The Accounting Cycle CLGL als intuit CD QuickBooks. This comprehensive prob- lem is intended to serve as a mini-practice set without the source documents. As such, students should plan on about three to four hours to complete this problem. 523 Bob Night opened "The General's Favorite Fishing Hole." The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and returning home the following Saturday afternoon. The registration fee includes room and board, the use of fishing boats, and professional instruction in fish- ing techniques. The chart of accounts for the camping operations is provided below. The General's Favorite Fishing Hole Chart of Accounts Assets Revenues 101 Cash 401 Registration Fees 142 Office Supplies 144 Food Supplies Expenses 145 Prepaid Insurance 511 Wages Expense 181 Fishing Boats 521 Rent Expense 181.1 Accum. Depr.Fishing Boats Office Supplies Expense 524 Food Supplies Expense Liabilities 525 Phone Expense 202 Accounts Payable 533 Utilities Expense 219 Wages Payable 535 Insurance Expense 536 Postage Expense Owner's Equity 542 Depr. Exp.Fishing Boats 311 Bob Night, Capital 312 Bob Night, Drawing 313 Income Summary The following transactions took place during April 20--. Apr. 1 Night invested cash in business, $90,000. Paid insurance premium for six-month camping season, $9,000. 2 Paid rent for lodge and campgrounds for the month of April, $40,000. 2 Deposited registration fees, $35,000. 2 Purchased 10 fishing boats on account for $60,000. The boats have estimated useful lives of five years, at which time they will be donated to a local day camp. Arrangements were made to pay for the boats in July. 3 Purchased food supplies from Acme Super Market on account, $7,000. Purchased office supplies from Gordon Office Supplies on account, $500. 7 Deposited registration fees, $38,600. 10 Purchased food supplies from Acme Super Market on account, $8,200. 10 Paid wages to fishing guides, $10,000. 14 Deposited registration fees, $30,500. (continued) 224 PART 1 Accounting for a Service Business Apr. 16 17 18 21 24 24 28 29 30 30 30 30 30 Purchased food supplies from Acme Super Market on account, $9,000. Paid wages to fishing guides, $10,000. Paid postage, $150. Deposited registration fees, $35,600. Purchased food supplies from Acme Super Market on account, $8,500. Paid wages to fishing guides, $10,000. Deposited registration fees, $32,000. Paid wages to fishing guides, $10,000. Purchased food supplies from Acme Super Market on account, $6,000. Paid Acme Super Market on account, $32,700. Paid utilities bill, $2,000. Paid phone bill, $1,200. Bob Night withdrew cash for personal use, $6,000. Adjustment information for the end of April is provided below. (a) Office supplies remaining on hand, $100. (b) Food supplies remaining on hand, $8,000. (c) Insurance expired during the month of April, $1,500. (d) Depreciation on the fishing boats for the month of April, $1,000. (e) Wages earned, but not yet paid, at the end of April, $500. REQUIRED 1. Enter the transactions in a general journal. Enter transactions from April 1-5 on page 1, April 7-18 on page 2, April 21-29 and the first two entries for April 30 on page 3, and the remaining entries for April 30 on page 4. 2. Post the entries to the general ledger. (If you are not using the working papers that accompany this text, you will need to enter the account titles and account numbers in the general ledger accounts.) 3. Prepare a trial balance on a work sheet. 4. Complete the work sheet. 5. Journalize the adjusting entries (page 5). 6. Post the adjusting entries to the general ledger. 7. Prepare the income statement. 8. Prepare the statement of owner's equity. 9. Prepare the balance sheet. 10. Journalize the closing entries (pages 5 and 6). 11. Post the closing entries to the general ledger. 12. Prepare a post-closing trial balance