Sundries Cinema Shown on the "wrksht" tab are the November 30,2021 , account balances of Sundries Cinema, which is own 4 by Theater Incorporated. The temporary account balances represent the results of entries recorded during the 5 first 11 months of 2021, and the balance in Theater's common stock and retained earnings accounts have not changed since December 31,2020 . Currently, 5,000 shares of stock are outstanding and 20,000 shares have been authorized. All income tax effects are to be ignored for this case. 8 have been authorized. Allincometax effects areto be ignored for this case. 10 December Transactions 11 Dec 5 Paid accounts payable of $5,950. 12 Dec 6 Paid movie rental of $7,500. 3 Dec 6 Deposited and earned $17,000 of admission receipts 4 Dec 7 Purchased supplies, $920, on account. 5 Dec 9 Earned and deposited more admission receipts, $580. 6 Dec 10 Purchased $3,150 of concessions items on credit. 7 Dec 12 Acquired additional equipment worth $24,000 by paying $500 cash and giving a long-term note payable for the balance. Dec 14 Paid wages of $15,200 for the period December 1 through 14. Dec 16 Paid for the supplies purchased on December 7. 1 Dec 17 Purchased $1,900 of supplies on credit. 2. Dec 19 Sold 500 shares of $10 par value common stock for $10 a share. 3 Dec 21 Earned and deposited $21,750 from concessions sales and $11,660 of admissions receipts. problem wrksht S,RE,BS ( 23 Dec 21 Earmed and deposited \$21,750 from concessions sales and $11,660 of admissions receipts. 24. Dec 24 Paid $1,500 for repairs to roof and marquee for weather damage. 25 Dec 25 Purchased $9,200 of concessions items on account. 26 Dec 27 Paid for the supplies purchased Dec. 17. 27 Dec 28 Paid wages of $16,720 for the period December 15 through 28. 28 Dec 30 Paid $2,400 to newspaper for advertisements that appeared in December. 29 Dec 31 Earned and deposited $22,000 from admissions receipts and $18,850 from concessions sales. 30 Dec 31 Declared and paid the annual dividend, amounting to $6,600. 31 Dec 31 Utilities for December were $2,900, paid in cash. 32 Dec 31 Movie rental expense for December was $8,700, paid in cash. 33 Dec 31 The cost of the concessions sold was $12,600 for December. Decrease Concessions inventory and 34 record as Concessions expense. 35 36 37 Instructions: 381 Record each of the above transactions into the worksheet provided. 392 Total each of the accounts in the worksheet. Make sure the worksheet balances. 403 Link revenues and expenses to the income statement. Finish the income statement, arriving at 41 net income or net loss. 424 Complete the statement of retained earnings. First enter the beginning balance of retained earnings. 43 Second, link net income from the income statement to net income on the statement 44 of retained earnings. Third, link dividends from the worksheet to the statement of retained earnings. 455 Prepare the balance sheet. Link each of the assets. liabilities. and cabital stock from the worksheet problem wrksht IS,RE,BS 455 Prepare the balance sheet. Link each of the assets, liabilities, and capital stock from the worksheet to the balance sheet. Link retained earnings from the statement of retained earnings to balance sheet. Remember, the balance sheet must balance, A=L+SE. 6 I have already formatted your worksheets, but please be sure that: a) Worksheet: (1) center the account names, (2) center all numbers for transactions recorded, (3) prepare column borders around all cells in the transactions area such that numbers can easily be traced to dates, (4) format the numbers properly, using comma separators (I suggest using "number" format to -0-decimal places. Also, make sure the worksheet either is fitted to one page, or if it crosses a page, it must be referenced from one page to the other appropriately. In the case of this problem, I suggest landscaping the worksheet and fitting it to one page, as long as the result is not too small to read in printed form. b) Financial statements: (1) format the numbers properly, be sure they have comma separators. I suggest using "Accounting" format to -0-decimal places, (2) place appropriate cell borders above and below subtotals and totals. 1 ALL TOTALS AND SUBTOTALS, AND ANYTHING ELSE INVOLVING A MATH OPERATION, MUST BE 2 IN THE FORM OF A FORMULA. 3 MAKE SURE ANSWERS TO NOT CROSS PAGE BREAKS, UNLESS REFERENCED APPROPRIATELY. Sundries Cinema Shown on the "wrksht" tab are the November 30,2021 , account balances of Sundries Cinema, which is own 4 by Theater Incorporated. The temporary account balances represent the results of entries recorded during the 5 first 11 months of 2021, and the balance in Theater's common stock and retained earnings accounts have not changed since December 31,2020 . Currently, 5,000 shares of stock are outstanding and 20,000 shares have been authorized. All income tax effects are to be ignored for this case. 8 have been authorized. Allincometax effects areto be ignored for this case. 10 December Transactions 11 Dec 5 Paid accounts payable of $5,950. 12 Dec 6 Paid movie rental of $7,500. 3 Dec 6 Deposited and earned $17,000 of admission receipts 4 Dec 7 Purchased supplies, $920, on account. 5 Dec 9 Earned and deposited more admission receipts, $580. 6 Dec 10 Purchased $3,150 of concessions items on credit. 7 Dec 12 Acquired additional equipment worth $24,000 by paying $500 cash and giving a long-term note payable for the balance. Dec 14 Paid wages of $15,200 for the period December 1 through 14. Dec 16 Paid for the supplies purchased on December 7. 1 Dec 17 Purchased $1,900 of supplies on credit. 2. Dec 19 Sold 500 shares of $10 par value common stock for $10 a share. 3 Dec 21 Earned and deposited $21,750 from concessions sales and $11,660 of admissions receipts. problem wrksht S,RE,BS ( 23 Dec 21 Earmed and deposited \$21,750 from concessions sales and $11,660 of admissions receipts. 24. Dec 24 Paid $1,500 for repairs to roof and marquee for weather damage. 25 Dec 25 Purchased $9,200 of concessions items on account. 26 Dec 27 Paid for the supplies purchased Dec. 17. 27 Dec 28 Paid wages of $16,720 for the period December 15 through 28. 28 Dec 30 Paid $2,400 to newspaper for advertisements that appeared in December. 29 Dec 31 Earned and deposited $22,000 from admissions receipts and $18,850 from concessions sales. 30 Dec 31 Declared and paid the annual dividend, amounting to $6,600. 31 Dec 31 Utilities for December were $2,900, paid in cash. 32 Dec 31 Movie rental expense for December was $8,700, paid in cash. 33 Dec 31 The cost of the concessions sold was $12,600 for December. Decrease Concessions inventory and 34 record as Concessions expense. 35 36 37 Instructions: 381 Record each of the above transactions into the worksheet provided. 392 Total each of the accounts in the worksheet. Make sure the worksheet balances. 403 Link revenues and expenses to the income statement. Finish the income statement, arriving at 41 net income or net loss. 424 Complete the statement of retained earnings. First enter the beginning balance of retained earnings. 43 Second, link net income from the income statement to net income on the statement 44 of retained earnings. Third, link dividends from the worksheet to the statement of retained earnings. 455 Prepare the balance sheet. Link each of the assets. liabilities. and cabital stock from the worksheet problem wrksht IS,RE,BS 455 Prepare the balance sheet. Link each of the assets, liabilities, and capital stock from the worksheet to the balance sheet. Link retained earnings from the statement of retained earnings to balance sheet. Remember, the balance sheet must balance, A=L+SE. 6 I have already formatted your worksheets, but please be sure that: a) Worksheet: (1) center the account names, (2) center all numbers for transactions recorded, (3) prepare column borders around all cells in the transactions area such that numbers can easily be traced to dates, (4) format the numbers properly, using comma separators (I suggest using "number" format to -0-decimal places. Also, make sure the worksheet either is fitted to one page, or if it crosses a page, it must be referenced from one page to the other appropriately. In the case of this problem, I suggest landscaping the worksheet and fitting it to one page, as long as the result is not too small to read in printed form. b) Financial statements: (1) format the numbers properly, be sure they have comma separators. I suggest using "Accounting" format to -0-decimal places, (2) place appropriate cell borders above and below subtotals and totals. 1 ALL TOTALS AND SUBTOTALS, AND ANYTHING ELSE INVOLVING A MATH OPERATION, MUST BE 2 IN THE FORM OF A FORMULA. 3 MAKE SURE ANSWERS TO NOT CROSS PAGE BREAKS, UNLESS REFERENCED APPROPRIATELY