Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question #3 I only need the answer for b,c,i ASAP REQUIREMENTS Please follow these instructions carefully! 1. Prepare journal entries to record the December transactions

Question #3

I only need the answer for b,c,i "ASAP"

image text in transcribed

REQUIREMENTS Please follow these instructions carefully! 1. Prepare journal entries to record the December transactions listed above. 2. Post the December journal entries to the general ledger. 3. Prepare a 6 column work sheet and enter the December 31 unadjusted balances from the general ledger accounts. Also enter adjusting entries for the following items on the work sheet, and complete the work sheet. a. Unpaid wages were $2.160 as of December 31. b. The December 31 concessions inventory was $3,015. c. The supplies inventory was $4,125 on December 31. d. The unexpired portion of the prepaid movie rental was $2,510 as of December 31. Depreciation for the year on the equipment was $17,750. 1. Depreciation for the year on the building was $32,750. g. Unpaid utilities expense for December was $1,330. h. Interest expense on the note payable for 2019 was $1,550, to be paid when the note matures. i. Admissions gift certificates still unredeemed at December 31 totaled $1,100. 4. Journalize and post the adjusting entries to the general ledger. These are the same adjustments that are recorded on the 6 column work sheet. 5. Prepare an income statement, statement of retained earnings, and a balance sheet for the year ended December 31, 2019. 6. Journalize and post the closing entries to the general ledger. REQUIREMENTS Please follow these instructions carefully! 1. Prepare journal entries to record the December transactions listed above. 2. Post the December journal entries to the general ledger. 3. Prepare a 6 column work sheet and enter the December 31 unadjusted balances from the general ledger accounts. Also enter adjusting entries for the following items on the work sheet, and complete the work sheet. a. Unpaid wages were $2.160 as of December 31. b. The December 31 concessions inventory was $3,015. c. The supplies inventory was $4,125 on December 31. d. The unexpired portion of the prepaid movie rental was $2,510 as of December 31. Depreciation for the year on the equipment was $17,750. 1. Depreciation for the year on the building was $32,750. g. Unpaid utilities expense for December was $1,330. h. Interest expense on the note payable for 2019 was $1,550, to be paid when the note matures. i. Admissions gift certificates still unredeemed at December 31 totaled $1,100. 4. Journalize and post the adjusting entries to the general ledger. These are the same adjustments that are recorded on the 6 column work sheet. 5. Prepare an income statement, statement of retained earnings, and a balance sheet for the year ended December 31, 2019. 6. Journalize and post the closing entries to the general ledger

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

Step: 3

blur-text-image

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

Auditing

Authors: David Ricchiute

8th Edition

0324226292, 978-0324226294

More Books

Students also viewed these Accounting questions