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please can u answer this immediately On February 28, 2021, Star Theatre Inc.'s general ledger showed Cash $15,000, Land $85,000; Buildings $77,000; Equipment $20,000, Accounts
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On February 28, 2021, Star Theatre Inc.'s general ledger showed Cash $15,000, Land $85,000; Buildings $77,000; Equipment $20,000, Accounts Payable $12,000; Mortgage Payable $118,000; Common Shares $40,000; and Retained Earnings $27,000. During the month of March, the following transactions occurred: Mar. Received three movies to be shown during the first three weeks of March. The film rental was $27,000. Of that amount, $10,000 was paid in cash and the remainder was on account. (Hint: Star Theatre uses the account Rent Expense to record film rentals). 2 Hired M. Brewer to operate concession stand. Brewer agrees to pay Star Theatre 15% of gross receipts, payable on the last day of each month, for the right to operate the concession stand. (Hint: Star Theatre uses the account Concession Revenue to record concession receipts earned.) 5 Ordered three additional movies, to be hown the last 10 days of March. The film rental cost will be $300 per night. 12 Paid balance due on the movies rented on March 1. 13 Paid the accounts payable owing at the end of February 15 Received $25,500 from customers for admissions for the first half of the month. (Hint: Star Theatre uses the account Fees Earned to record revenue from admissions.) 19 Paid advertising expenses. $950. 20 Received the movies ordered on March 5 and paid rental fee of $3,000 ($300 x 10 nights). 23 Paid salaries of $4,200. Question 7 of 7 -/18 Fees Earned to record revenue from admissions.) 19 Paid advertising expenses, $950. 20 Received the movies ordered on March 5 and paid rental fee of $3,000 ($300 x 10 nights). 23 Paid salaries of $4,200. 26 Paid $1,250 of the balance due on the mortgage, as well as $750 of interest on the mortgage. 28 Paid $3,000 for the monthly income tax instalment. 30 Received statement from M. Brewer, showing gross concession receipts of $ 16,600, and the balance due to Star Theatre of $2.490 ($16,600 x 15%) for March Brewer paid half of the balance due and will remit the remainder on April 5. 31 Received $25.800 from customers for admissions for the past two weeks. fal Round answers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit ch 21C Mostly clearStep by Step Solution
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