Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please fill in the empty box. The choice with the arrow facing down are March: 2,3,9,10,11,12,20,31 Thanks Problem 3-8A (Part Level Submission) el Theater Inc.

Please fill in the empty box. The choice with the arrow facing down are March: 2,3,9,10,11,12,20,31 Thanks
image text in transcribed
image text in transcribed
image text in transcribed
Problem 3-8A (Part Level Submission) el Theater Inc. was recently formed. It began operations in March 2017. The Triquel is unique in that it ill show only triple features of sequential theme movies. On March 1, the ledger of The Triquel showed Cash $19,800; Land $41,800; Buildings (concession stand, projection room, ticket booth, and screen) $22,000; ipment $16,000; Accounts Payable $15,800; and Common Stock $83,800. During the month of March, the following events and transactions occurred Mar. 2 Rented the first three Star Wars movies (Star Wary, The Empire Stnkes Back, and The Return of the Jed) to be shown for the first three weeks of March. The film rental was $9,800; $2,100 was paid in cash and $7,700 will be paid on March 10 3 Ordered the first three Star Trek movies to be shown the last 10 days of March. It will cost $500 per night 9 Received $9,300 cash from admissions. 10 Paid balance due on Star Wars movies' rental and $2,900 on March 1 accounts payable. 11 The Triquel Teater contracted with R. Lazio to operate the concession stand. Lalo agrees to pay The Triquel 15% of gross receipts, payable monthly, for the rental of the concession stand, 12 Paid advertising expenses $490. 20 Received $8,800 cash from customers for admissions 20 Received the Star Trek movies and paid rental fee of $6,000 31 Paid salaries of $3,800. 31 Received statement from R. Lazlo showing gross receipts trom concessions of $12.200 and the balance due to The Triquel of $1,830 ($12,200 x .15) for March. Lazo paid half the balance due for the rental of the concession stand and will remit the remainder on April 5 1 Received $20,200 cash from customers for admissions Journalize the March transactions. The Triquel records admission revenue as service revenue concession revenue as rent revenue, and film rental expense as rent expense. (If no entry is required when entry" for the account titles and enter O for the amounts. Credit account tities are automatically indented amount is entered. Do not indent manually. Record journat entries in the order presented in the problem.) Date Account Titles and Explanation Debit nent CALCULATO Mar. 31

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

More Books

Students also viewed these Accounting questions

Question

How is value related to consumer misbehavior?

Answered: 1 week ago

Question

I need accurate answer Question in finance 1 1 1 4 .

Answered: 1 week ago

Question

b. Where did they come from?

Answered: 1 week ago

Question

c. What were the reasons for their move? Did they come voluntarily?

Answered: 1 week ago

Question

5. How do economic situations affect intergroup relations?

Answered: 1 week ago