The following accounts appeared in the December 31 trial balance of the Oriole Theatre:

		Debit		Credit
Equipment		$787,200
Accumulated depreciationequipment				$98,400
Notes payable				152,500
Sales revenue				615,000
Rent expense		50,800
Salaries and wages expense		65,600
Interest expense		7,400

From the account balances above and the information that follows, prepare the annual adjusting entries necessary on December 31:

1.		The equipment has an estimated life of 16 years and a residual value of $32,800. (Use the straight-line method.)
2.		The note payable is a 90-day note given to the bank on October 20 and bearing interest at 10%. (Hint: Use number of days in your calculation.)
3.		In December, 1,600 coupon admission books were sold at $24 each. They can be used for admission any time after January 1.
4.		Of the Rent Expense balance, $900 is paid in advance.
5.		Salaries accrued but unpaid are $9,700.

(Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Use 365 days for calculation.)

No.	Account Titles and Explanation	Debit	Credit
1.
2.
3.
4.
5.

List of Accounts

What amounts should be shown for each of the following on the income statement for the year?

1.		Interest expense		$
2.		Sales revenue		$
3.		Rent expense		$
4.		Salaries and wages expense		$