P3 7 (Algo) Recording Journal Entries and Identifying Cash Flow Effects LO3 4, 3 7 The following information applies to the questions displayed below Pine Fair, L P (Limited Partnership), is one of the largest regional amusement park operators in the world, owning 11 amusement parks, two water parks, and four hotels The parks include Pine Point in Ohio Valleyfair near Minneapolis St Paul Dorney Park and Wildwater Kingdom near Allentown, Pennsylvania Worlds of Fun in Kansas City Great America in Santa Clara, California and Canadas Wonderland near Toronto, Canada, among several others The following are summarized transactions similar to those that occurred in a recent year Dollars are in thousands Guests at the parks paid $616,042 cash in admissions The primary operating expenses for the year were employee wages of 449,416, with $417,630 paid in cash and the rest to be paid to employees in the following year Pine Fair paid $48,300 principal on long term notes payable The parks sells merchandise in park stores The cash received during the year for sales was $381,693 The cost of the inventory sold during the year was $96,057 Pine Fair purchased and built additional rides and other equipment during the year, paying $93,790 in cash Guests may stay in the parks at accommodations owned by the company During the year, accommodations revenue was $86,194 $84,855 was paid by the guests in cash and the rest was owed on account Interest incurred and paid on long term debt was $161,326 The company purchased $153,531 in inventory for the park stores during the year, paying $124,231 in cash and owing the rest on account Advertising costs for the parks were $146,426 for the year $138,444 was paid in cash and the rest was owed on account Pine Fair paid $12,400 on accounts payable during the year P3 7 Part 2 2 For the transactions below, indicate how the transactions will affect the statement of cash flows Cash outflows should be entered as negative amounts The first transaction is provided as an example (If there is no effect on the statement of cash flows, select No effect Enter your answers in thousands, not in dollars Cash outflows should be indicated with a minus sign )

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P3-7 (Algo) Recording Journal Entries and Identifying Cash Flow Effects LO3-4, 3-7 [The following information applies to the questions displayed below.] Pine Fair, L.P. (Limited

P3-7 (Algo) Recording Journal Entries and Identifying Cash Flow Effects LO3-4, 3-7

[The following information applies to the questions displayed below.] Pine Fair, L.P. (Limited Partnership), is one of the largest regional amusement park operators in the world, owning 11 amusement parks, two water parks, and four hotels. The parks include Pine Point in Ohio; Valleyfair near Minneapolis/St. Paul; Dorney Park and Wildwater Kingdom near Allentown, Pennsylvania; Worlds of Fun in Kansas City; Great America in Santa Clara, California; and Canadas Wonderland near Toronto, Canada, among several others. The following are summarized transactions similar to those that occurred in a recent year. Dollars are in thousands.

Guests at the parks paid $616,042 cash in admissions.
The primary operating expenses for the year were employee wages of 449,416, with $417,630 paid in cash and the rest to be paid to employees in the following year.
Pine Fair paid $48,300 principal on long-term notes payable.
The parks sells merchandise in park stores. The cash received during the year for sales was $381,693. The cost of the inventory sold during the year was $96,057.
Pine Fair purchased and built additional rides and other equipment during the year, paying $93,790 in cash.
Guests may stay in the parks at accommodations owned by the company. During the year, accommodations revenue was $86,194; $84,855 was paid by the guests in cash and the rest was owed on account.
Interest incurred and paid on long-term debt was $161,326.
The company purchased $153,531 in inventory for the park stores during the year, paying $124,231 in cash and owing the rest on account.
Advertising costs for the parks were $146,426 for the year; $138,444 was paid in cash and the rest was owed on account.
Pine Fair paid $12,400 on accounts payable during the year.

P3-7 Part 2

2. For the transactions below, indicate how the transactions will affect the statement of cash flows. Cash outflows should be entered as negative amounts. The first transaction is provided as an example. (If there is no effect on the statement of cash flows, select "No effect". Enter your answers in thousands, not in dollars. Cash outflows should be indicated with a minus sign.)