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Transactions during June at Water World include the following: 1 . During June, seasonal plants and paint costs $ 1 , 5 0 0 ,
Transactions during June at Water World include the following: During June, seasonal plants and paint costs $ paid in cash. Hint: use maintenance expense. Season passes are sold for $ cash. All season passes provide free admission for the summer, June through August The medical team, fulltime staff members, spent of their time during June treating otters for minor injuries and inoculations. The animals in the other exhibits required the rest of their time. General sanitizing chemicals from the water chemicals inventory were used to treat the water in the water park rides and the animal tanks, $ Some animal tanks required salinization, so $ in water saline inventory was used as well. Cash admissions for the month totaled $ Concession sales totaled $ in cash for goods costing $ The following cash salaries paid for the month. You may ignore withholding and taxes. Use expense salary operating andor expense salary administration as needed. Medical team: $ Dolphin trainers: $ Otter Handlers: $ Administration: $ Bought fish, squid and other food and supplements costing $ on account. $ of food was used during the month. The cost of utilities for the month totaled $ which was paid immediately. Adjusting entries: At the end of the month, depreciation on the buildings and equipment is recorded. The buildings and equipment have an expected useful life of years, and a salvage value of $ Water World uses straight line depreciation techniques to depreciate the building and equipment. June interest on the note payable is accrued. The annual interest rate on the note payable is and the payment is due on January of each year. Season ticket revenue is recorded for the month. Prepaid insurance is adjusted. The balance as of June represents months of remaining coverage. Table Water Works Account Balances June x Cash $ Prepaid Insurance $ Inventories: Animal Foods $ Water chemicals $ Water saline $ Concession $ Administrative $ Land $ Buildings & Equip $ Accum Depreciation bld &equip $ Season Passes $ Notes Payable $ Stock $ Retained Earnings $ a Create a postclosing trial balance.
Transactions during June at Water World include the following:
During June, seasonal plants and paint costs $ paid in cash. Hint: use maintenance expense.
Season passes are sold for $ cash. All season passes provide free admission for the summer, June through August
The medical team, fulltime staff members, spent of their time during June treating otters for minor injuries and inoculations. The animals in the other exhibits required the rest of their time.
General sanitizing chemicals from the water chemicals inventory were used to treat the water in the water park rides and the animal tanks, $ Some animal tanks required salinization, so $ in water saline inventory was used as well.
Cash admissions for the month totaled $
Concession sales totaled $ in cash for goods costing $
The following cash salaries paid for the month. You may ignore withholding and taxes. Use expense salary operating andor expense salary administration as needed.
Medical team: $ Dolphin trainers: $ Otter Handlers: $ Administration: $
Bought fish, squid and other food and supplements costing $ on account.
$ of food was used during the month.
The cost of utilities for the month totaled $ which was paid immediately.
Adjusting entries:
At the end of the month, depreciation on the buildings and equipment is recorded. The buildings and equipment have an expected useful life of years, and a salvage value of $ Water World uses straight line depreciation techniques to depreciate the building and equipment.
June interest on the note payable is accrued. The annual interest rate on the note payable is and the payment is due on January of each year.
Season ticket revenue is recorded for the month.
Prepaid insurance is adjusted. The balance as of June represents months of remaining coverage.
Table
Water Works Account Balances June x
Cash $
Prepaid Insurance $
Inventories:
Animal Foods $
Water chemicals $
Water saline $
Concession $
Administrative $
Land $
Buildings & Equip $
Accum Depreciation bld &equip $
Season Passes $
Notes Payable $
Stock $
Retained Earnings $ a Create a postclosing trial balance.
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