Question 5 of 5 - /29 Current Attempt in Progress The Novak Theater opened on April 1. All facilities were completed on March 31. At this time, the ledger showed No. 101 Cash $7,500, No. 140 Land $10,500, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $6,500, No. 157 Equipment $7,500, No. 201 Accounts Payable $3,500, No 275 Mortgage Payable $8,500, and No. 311 Common Stock $20,000. During April, the following events and transactions occurred. Apr. 2 3 9 10 11 Paid film rental of $1,140 on first movie Ordered two additional films at $1.930 each Received $2,430 cash from admissions. Made $2.080 payment on mortgage and $1.300 for accounts payable due Novak Theater contracted with Dever Company to operate the concession stand, Dever is to pay 18% of gross concession receipts (payable monthly) for the rental of the concession stand Paid advertising expenses $320, Received one of the films ordered on April 3 and was billed $1,930. The film will be shown in April Received $5,700 cash from admissions Paid salaries $1.200 Received statement from Dever showing gross concession receipts of $1,100 and the balance due to the Novak Theater of $198 ($1,100 18%) for April. Dever paid one-half of the balance due and will remit the remainder on May 12 20 25 29 30 5. 30 Prepaid $910 rental on special film to be run in May. Question 5 of 5 - /29 Current Attempt in Progress The Novak Theater opened on April 1. All facilities were completed on March 31. At this time, the ledger showed No. 101 Cash $7,500, No. 140 Land $10,500, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $6,500, No. 157 Equipment $7,500, No. 201 Accounts Payable $3,500, No 275 Mortgage Payable $8,500, and No. 311 Common Stock $20,000. During April, the following events and transactions occurred. Apr. 2 3 9 10 11 Paid film rental of $1,140 on first movie Ordered two additional films at $1.930 each Received $2,430 cash from admissions. Made $2.080 payment on mortgage and $1.300 for accounts payable due Novak Theater contracted with Dever Company to operate the concession stand, Dever is to pay 18% of gross concession receipts (payable monthly) for the rental of the concession stand Paid advertising expenses $320, Received one of the films ordered on April 3 and was billed $1,930. The film will be shown in April Received $5,700 cash from admissions Paid salaries $1.200 Received statement from Dever showing gross concession receipts of $1,100 and the balance due to the Novak Theater of $198 ($1,100 18%) for April. Dever paid one-half of the balance due and will remit the remainder on May 12 20 25 29 30 5. 30 Prepaid $910 rental on special film to be run in May