Prepare adjusting Entries question;

9.

The King Street Zoo operates a drive-through tourist attraction in Toronto. The company adjusts its accounts at the end of each month. The selected accounts appearing below reflect balances after adjusting entries were prepared on April 30. The adjusted trial balance shows the following:

Prepaid Rent..................................................................	$12,000
Feed Shed......................................................................	40,000
Accumulated DepreciationFeed Shed.......................	6,000
Unearned Revenue........................................................	500

Other data:

Four months rent had been prepaid on April 1.

The feed shed is being depreciated at $7,200 per year.

The unearned revenue represents tickets sold for future zoo visits. The tickets were sold at $4.00 each on April 1. During April, twenty-five of the tickets were used by customers.

Instructions

Prepare the three adjusting entries that were made by the King Street Zoo on April 30