Stupid Accounting Project Theater

Trial Balance

1-Nov-20

This company runs a movie theater.Film rental is the cost of the movies shown in the theater. Record the transactions in a journal form.

Prepare the financial statements for the month:

• Record the transactions in a journal form
• Post the transactions to a ledger (Taccounts)
• Prepare a trial balance
• Record the adjusting entries in the journal
• Post the adjusting entries to the Ledger

Net Income = 59

Cash 2,135

Supplies 200

Sound Equip 2,950

Projection Equip 12,050

Accumulated Depreciation 2,000

Accounts Payable 385

Salaries Payable 150

Common Stock 12,500

Retained Earnings 2,300

17,335 17,335

Date Journal Explanation

1-Nov Paid $120 for film rental

2-Nov Received $300 from admissions

3-Nov Received $230 from admissions

5-Nov Paid $80 to Price Optical Company on account

5-Nov Paid $25 for advertising

6-Nov Paid $100 to Dempsey Sound Service on account (work done for us previously)

6-Nov Paid $300 for rent of November

8-Nov Paid $135 for film rental

9-Nov Received $185 from admissions

10-Nov Paid $7 for repairs

10-Nov Received $150 from admissions

12-Nov Paid $20 for advertising

13-Nov Paid $60 for repairs

15-Nov Paid $50 for new sound equipment

15-Nov Paid $74 for film rental

15-Nov Paid salaries of $300

16-Nov Received $175 from admissions

17-Nov Received $193 from admissions

19-Nov Paid $18 for advertising

20-Nov Paid $13 for repairs

23-Nov Received $165 from admissions

24-Nov Paid $85 for film rental

24-Nov Received $143 from admissions

26-Nov Sold old projection equipment for $25

Original cost was $600

Acc Dep at sale $580

27-Nov Paid $25 for advertising

29-Nov Paid $115 for film rental

30-Nov Paid $65 for electricity for November

30-Nov Paid $15 for water service for November

30-Nov Received $135 from admissions

During the month,$45 of supplies were used.

The depreciation expense for the month was $150.

At the end of the month the company owed $200 of salaries to employees.