Presented below is the November 30, 2019, madjusted trial balance of XYZ Football Club, which is owned by Singh Corporation. The temporary account balances represent the results of entries recorded during the first 11 months of 2019, and the balance in XYZ's common stock and retained earnings accounts have not changed since December 31, 2018 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 CREDIT DEBIT 238,000 10,200 8,200 12 800 250.000 117 200 400,000 November 30, 2019 REF Cash 111 Concessions Inventory 112 Supplies Inventory 113 Prepaid Stadium Rental 114 Equipment 131 Accumulated Depreciation, Equipment 132 Building 135 Accumulated Depreciation, Building 136 Accounts Payable 211 Wages Payable 212 Utilities Payable 213 Interest Payable Unearned Admissions Revenue 215 Long-Term Notes Payable 231 Common Stock (S10 par value) 311 Retained Earnings 312 Dividends 313 Income Summary 314 Admissions Revenue 411 Concessions Revenue 412 Wages Expense 511 Stadium Rental Expense 512 Concessions Expense 513 Supplies Expense 514 Utilities Expense 515 Advertising Expense 516 Maintenance Expense 517 Depreciation Expense Equipment $18 Depreciation Expense, Building 519 Interest Expense 520 Totals 115,500 20,220 0 0 0 3,300 43,000 70,000 280,860 312,600 328,650 430,200 187,000 118,230 0 16,600 6,300 13.800 0 0 0 $1691,330 $1,691 330 The following transactions occurred during the month of December 2019: The following transactions occurred during the month of December 2019. Dec. 5 Paid accounts payable of $4,950. 6 Paid stadium rental of $8,500 in advance. 6 Purchased supplies, $720, on account. 7 Deposited $16,000 of admissions receipts. 9 Uneamed admissions revenue is for gift certificates purchased for admission into future shows. $480 more of these gift certificates were sold to a local restaurant business, for cash 10 Purchased $2,150 of concessions items on credit, 12 Acquired additional equipment worth $34,000 by paying $500 cash and giving a long-term note payable for the balance 14 Paid wages of $14,200 for the period December 1 through 14. 16 Paid for the supplies purchased on December 6, 17 Purchased $1,800 of supplies on credit 19 Sold 600 shares of S10 par value common stock for $10 a share. 21 Deposited S22,750 from concessions sales and $10,660 of admissions receipts 24 Paid $1,600 for repairs to roof for weather damage. 25 Purchased $8,200 of concessions items on account. 27 Paid for the supplies purchased on December 17. 28 Paid wages of $17,720 for the period December 15 through 28. 30 Paid $2,500 to newspaper for advertisements that appeared in December 31 Deposited $23,000 from admissions receipts and $17,850 from concessions sales. 31 Declared and paid the annual dividend. amounting to $7,600. REQUIREMENTS REQUIREMENTS 1. Prepare joumal entries to record the December transactions listed above. 2. Post the December joumal entries to the general ledger. 3. Prepare a 6-column worksheet and enter the December 31 unadjusted balances from the general ledger accounts. Also enter adjusting entries for the following items on the worksheet, and complete the worksheet. a. Unpaid wages were $1,160 as of December 31. b. The December 31 concessions inventory was $2,015. c. The supplies inventory was $3,125 on December 31. d. The unexpired portion of the prepaid stadium rental was $2 210 as of December 31. e. Depreciation for the year on the equipment was $16,750. f. Depreciation for the year on the building was $35.750. g. Unpaid utilities expense for December was $1,230. h. Interest expense on the note payable for 2019 was $1,750, to be paid when the note matures. i Admissions gift certificates still unredeemed at December 31 totaled $1,500. 4. Journalize and post the adjusting entries to the general ledger. These are the same adjustments that are recorded on the 6-column worksheet. 5. Prepare an income statement, statement of retained earnings, and a balance sheet for the year ended December 31, 2019 6. Journalize and post the closing entries to the general ledger Unpaid pose for December 31,230 h. Interest expense on the note payable for 2019 was 51,750, to be paid when the notes Admissions i certificates redeemed at December totaled 51,500 4. Journal and post the dusting entries to the general lediger. These are the adjustments that are recorded on the ocean worksheet 3. Prepare an income statement, stament of retained angs, and a balance sheet for the you ended December 31, 2019. 6. Journalive and post the closing entries to the general ledger GENERAL JOURNAL-XYZ Football Club ACCOUNT REF DEBIT DATE CREDIT GENERAL JOURNAL - XYZ Football Club FR DATE GENERAL JOURNAL XYZ Football Club ACCOUNT RET DEBIT CREDIT DATE GENERAL CRNAL XYZ Fotball Club ACCOUNT REF DERIT CREDIT ACCOUNT REF DERIT DATE CREDIT GENERAL JOURNAL XYZ Football Club ACCOUNT RET DERIE DATE CREDIT GENERAL LEDGER - XYZ Football Club CASH-111 DESCRIPTION DEBIT CREDIT DATE NOV 30 BALANCE 238,000 BALANCE CONCESSIONS INVENTORY - 112 DESCRIPTION DEBIT CREDIT DATE NOV 30 BALANCE BALANCE 10.200 SUPPLIES INVENTORY-113 DESCRIPTION DEBIT CREDIT DATE NOV 30 BALANCE BALANCE 8.200 PREPAID STADIUM RENTAL 114 DESCRIPTION DEBIT CREDIT DATE NOV 30 BALANCE BALANCE 12 800 EQUIPMENT 131 DESCRIPTION DEBIT CREDIT DATE NOV 30 BALANCE BALANCE 250,000 ACCUMULATED DEPRECIATION, EQUIPMENT 132 DATE DESCRIPTION DEBIT CREDIT NOV 30 BALANCE BALANCE 117,200 BUILDING - 135 DESCRIPTION DEBIT CREDIT DATE NOV 30 BALANCE BALANCE 400,000 ACCUMULATED DEPRECLATION BUILDING 136 DATE DESCRIPTION DET CREDIT NOV 10 BALANCE BALANCE 113.500 BUILDING - 135 DESCRIPTION DEBIT DATE NOV 30 BALANCE CREDIT BALANCE 400,000 ACCUMULATED DEPRECIATION, BUTLDING - 136 DATE DESCRIPTION DEBIT CREDIT NOV 30 BALANCE BALANCE 115 500 ACCOUNTS PAYABLE-211 DESCRIPTION DEBIT CREDIT DATE NOV 30 BALANCE BALANCE 20.220 WAGES PAYABLE-212 DESCRIPTION DEBIT CREDIT BALANCE 0 DATE NOV 30 BALANCE UTILITIES PAYABLE 211 DESCRIPTION DEBIT DATE NOV 30 BALANCE CREDIT BALANCE 0 UTILITIES PAYABLE-213 DESCRIPTION DEBIT DATE NOV 30 BALANCE CREDIT BALANCE 0 INTEREST PAYABLE-214 DESCRIPTION DEBIT CREDIT DATE NOV 30 BALANCE BALANCE 0 UNEARNED ADMISSIONS REVENUE 215 DATE DESCRIPTION DEBIT CREDIT BALANCE NOV 30 BALANCE 3,300 LONG-TERM NOTES PAYAHLE-231 DESCRIPTION DEBET DATI NOV 30 BALANCE CREDIT BALANCE 49,000 COMMON STOK STO PAR VALUE) - 31 DATE NOV 30 BALANCE COMMON STOCK (510 PAR VALUE) 311 DESCRIPTION DEBIT CREDIT BALANCE 70,000 RETAINED EARNINGS - 312 DESCRIPTION DEBIT DATE NOV 30 BALANCE CREDIT BALANCE 280,860 DIVIDENDS - 313 DESCRIPTION DEBIT DATE NOV 30 | BALANCE CREDIT BALANCE 0 INCOME SUMMARY - 314 DESCRIPTION DEBIT CREDIT BALANCE DATE NOV 30 BALANCE ADMISSIONS REVENUE-411 DESCRIPTION DEBIT DATE NOV 30 BALANCE CREDIT BALANCE 512,600 2 CONCESSIONS REVENUE - 412 DESCRIPTION DEBIT DATE NOV 30 BALANCE CREDIT BALANCE 528 650 WAGES EXPENSE - SIL DESCRIPTION DEHIT CREDIT DATE NOV 30 BALANCE BALANCE 430 200 STADIUM RENTAL EXPENSE-512 DESCRIPTION DEBIT DATE NOV 30 BALANCE CREDIT BALANCE 187000 DATE NOV 30 BALANCE CONCESSIONS EXPENSE $13 DESCRIPTION DERIT CREDIT BALANCE 118.230 DATE SUPPLIES EXPENSE14 DESCRIPTION DELET CREDIT RALANCE SUPPLIES EXPENSE DESCRIPTION 514 DEBIT CREDIT DATE NOV 10 NALANCE BALANCE 0 UTILITIES EXPENSE - 515 DESCRIPTION DEBIT DATI CREDIT BALANCE 16600 NOV W BALANCE ADVERTISING EXPENSE-S16 DATE DESCRIPTION DERIT NOVO BALANCH CREDIT BALANCE 6,300 MAINTENANCE EXPENSE 17 DATE DESCRIPTION NOWLALANCE DET CHOI BALANCE 1300 DEPRECATION EXPENSE TOLIPMENT - 35 DEPRECIATION EXPENSE EQUIPMENT - 518 DATE DESCRIPTION DEBIT CREDIT BALANCE NOV 30 BALANCE o DEPRECIATION EXPENSE, BUILDING - 519 DATE DESCRIPTION DEBIT CREDIT BALANCE NOV 30 BALANCE 0 INTEREST EXPENSE - 320 DESCRIPTION DEBIT DATI NOV 10 BALANCE CREDIT BALANCE 0 DESCRIPTION WORKSHEET UNADJUSTED ADJUSTMENTS TRIAL BALANCE CREDIT DERE CRIME ADJUSTED TRIAL BALANCE DET CREDI Cal Dund Stadt Red Depreciation DESCRIPTION WORKSHEET UNADJUSTED ADJUSTMENTS TRIAL BALANCE DEBIT CREDIT DEBIT CREDIT ADJUSTED TRIAL BALANCE DERIT CREDIT Cash Concessions Inventory Supplies Laventory Prepaid Stadium Rental Equipment Accumulated Depreciation, Equipment Building Accumulated Depreciation, Building Accounts Payable Wages Payable Utilities Payable Interest Payable Unearned Admissions Revenue Long Term Notes Payable Common Stock Retained Earnings Dividends Admissions Revenue Concessions Revenge Wages Expense Stadium Rental Expense Concessions Expense Supplies Expense Utilities Expense Advertising Expense Maintenance Expense Depreciation Expense, Equipment Depreciation Expense, Building Interest Expense Total XYZ FOOTBALL CLUB INCONIE STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2019 Les Expense Athvertising Expense Mine Bupenie Depreciation Expense. Depreciation Expense B. Interest pense Totals XYZ FOOTBALL CLUB INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2019 XYZ FOOTBALL CLUB RETAINED EARNINGSSTATEMENT FOR THE YEAR ENDED DECEMBER 31, 2019 XYZ FOOTHILL CLUT BALANCE SHEET DECEMBER 2010 XYZ FOOTBALL CLUB RETAINED EARNINGS STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2019 XYZ FOOTBALL CLUB BALANCE SHEET DECEMBER 31, 2019