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Question No: 02 (Marks: 6+6+4+4=24) Fantasy Kingdom Park was started on April 1 by H. Himel. The following selected events and transactions occurred during April.
Question No: 02 (Marks: 6+6+4+4=24) Fantasy Kingdom Park was started on April 1 by H. Himel. The following selected events and transactions occurred during April. 4 8 11 12 13 Apr. 1 Himel invested Tk.35,000 cash in the business. Purchased land costing Tk.27,000 for cash. Incurred advertising expense of Tk.1,800 on account. Paid salaries to employees Tk.1,500. Hired park manager at a salary of Tk.4,000 per month, effective May 1. Paid Tk.1,650 cash for a one-year insurance policy. 17 Withdrew Tk.1,000 cash for personal use. 20 Received Tk.6,800 in cash for admission fees. Sold 100 coupon books for Tk.25 each. Each book contains 10 coupons that entitle the holder to one admission to the park. Received Tk.8,900 in cash admission fees. 30 Paid Tk.900 on balance owed for advertising incurred on April 8. 25 30 Instructions (a) (b) (c) (d) Prepare a tabular analysis of the transactions, using the following column headings: Cash, Prepaid Insurance, Land, Accounts Payable, Unearned Service Revenue, Owner's Capital, Owner's Drawings, Service Revenue, Advertising Expense, and Salaries and Wages Expense. Journalize the transactions. Post to the ledger accounts. Prepare a trial balance on April 30, 2021
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