The Following business transactions Theatre corporation during June were completed by Widway of the current year. June 1. Deposited in a bank Capital Stock account $75.000 cash received for Purchased the Lakeview Drive-in Theatre for $250.0oo. Divided as flows land # 125.000, building & 75.000 equipment $50.000. Paid $60.000 in cash and gave a note. Payable for the remainder m a n se 4. Entering into a contract for the operation of this refreshment Stand Concession at a rental of 25% of the leap Concessionaire's Sales. With a guaranteed. Minimum of $1.000 a month. Payable in advance. Receivede Cash $1,000 as the advance Payment for the month of June. Paid for Advertising leaflets for June 250 Property and casualty insurance Paid Premiums for Policies $3.500. 8. Purchased supplies. $750 and on Account equipment. $4.150 8. advertising $11. Soo Paid for June billboard and newspaper 10. Paid Miscellaneous expense. taso. - 12. Cash received from admissions for the week, 85.600. 15. wages. $2.950. Paid Semi monthly 19. Cash received from admissions for the ween. 15.900 Paid miscellaneous expense, $210. Returned to the a portion of supplier receiving the supplics full credit purchased on for the Cost Junes & 9o. 21. Paid cash to creditiors an account. Bagso. 26. - Cash received from admissions for the week, $4,910. 26. Purchased Supplies for cash $300 29. Recorded Payment invoice is due Of $51800 on July 9. for rental of film for June 30. Paid electricity and water bills. $625 Paid Semi monthly wages $ 3.450. 30. from admissions for remainder of the Cash month received $3,100. the recorded additional amount awed by the Concessionaire for the month of June, Sales for Month design ideas totaled $6,000 Rental Charges in excess of the advance Payment of $1,000 are not duc and Payable until July 10. Instructions: (1) Open a ledger of four-column accounts for Midway Theatre Corporation, using the following account titles and numbers: Cash, 11; Accounts Receivable, 12; Prepaid Insurance, 13; Supplies, 14; Land, 17; Buildings, 18; Equipment, 19; Accounts Payable, 21; Note Payable, 24; Capital Stock, 31; Admissions Income, 41; Concession Income, 42; Wages Expense, 51; Film Rental Expense, 52; Advertising Expense, 53; Electricity and Water Expense, 54; Miscellaneous Expense, 59. (2) Record the transactions in a two-column journal. (3) Post the journal to the ledger, extending the month-end balances to the appropriate balance columns after all posting is completed. (4) Prepare a trial balance as of June 30. (5) Determine the following: (a) Amount of total revenue recorded in the ledger
